Unite union said it was seeking assurances about what impact the proposed deal would have on Vauxhall's 35,000-strong UK workforce.Read the full story ›
American car maker General Motors has announced Marry Barra as its new chief executive, the first woman to hold the top job in the company's century-long history.
“This is an exciting time at today’s $GM. I’m honored to lead the best team in the business & to keep our momentum at full speed.” – Barra
Ms Barra, 51, is currently an executive vice president and has been with the GM for 33 years.
As the new head of General Motors, she will become the first female CEO in the global automotive industry.
US firm General Motors (GM) has closed its operations in Egypt indefinitely due to escalating violence in the country.
The vehicle manufacturing company said it has closed its plant and its offices in Cairo.
GM said in a statement that its chief concern is for the "safety and security" of its employees.
The firm currently has around 1,400 workers in Egypt.
General Motors (GM), the only major US vehicle manufacturer headquartered in Detroit, said the city's bankruptcy declaration was "a day that we and others hoped would not come".
GM, which filed and emerged from a Chapter 11 bankruptcy, said in a statement that it does not anticipate any impact to its daily operations.
The firm added, "We believe, however, that today also can mark a clean start for the city".
Katja Hall, CBI Chief Policy Director, said:
“This significant investment at Ellesmere Port helps to confirm the UK’s place in the fast lane of European car manufacturing. GM’s investment will secure existing jobs and create hundreds of new ones, directly and in the supply chain.
“Britain’s automotive industry is now a real success story – for the first time in decades our balance of trade in cars is positive, and major investments like this are a vote of confidence in the UK.”
The UK economy received a major boost today with news of a £125 million investment in Vauxhall's car plant, creating thousands of new jobs.Read the full story ›
Vauxhall chairman Duncan Aldred said it was a "historic day" for Vauxhall:
"This is great news for the Ellesmere Port plant, our employees, the local community, our suppliers, the Vauxhall brand and the UK. We have been able to develop a responsible labour agreement that secures the plant's future.
"With Ellesmere Port's proven build quality and a new agreement that ensures excellent cost competitiveness, this facility will provide additional employment and, as the lead plant for the next-generation Astra, will be one of the cornerstones of our European manufacturing footprint."
David Cameron said in a statement:
“This is excellent news for Ellesmere Port and for UK manufacturing.
“Once again we have seen the success of the UK automotive industry and the crucial role it plays in growing and rebalancing our economy.
“This has been a real team effort with the government, the company, unions and workers all focused on keeping production in the UK.
“And the workforce at Ellesmere Port should take great pride in their skill, hard work and commitment which has proved vital to ensuring this great result today.”
The decision follows the conclusion of a ground-breaking new labour agreement which was approved by the Vauxhall workforce yesterday.
The agreement comes into force in 2013 and runs through the life of the next-generation Astra, into the early 2020s.
Around 700 new jobs will be created at the site, with another 3,000 positions in firms which supply the plant with parts and services.