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GM Generali

23.27
-0.21 (-0.89%)
09:54:03 - Realtime Data
Share Name Share Symbol Market Type
Generali AQEU:GM Aquis Europe Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.21 -0.89% 23.27 23.27 23.28 23.32 23.07 23.31 78,707 09:54:03

GM: 14 Plants, 3 Parts Centers To Close By 2011

01/06/2009 3:23pm

Dow Jones News


Generali (AQEU:GM)
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General Motors Corp. (GM), fresh off a bankruptcy filling, said Monday it will shutter 17 factories and parts centers by the end of 2011.

The auto maker released a list of plants that will close as part of the company's plan to restructure under Chapter 11 protection.

The list includes seven factories in Michigan and plants in Ohio, Indiana and Tennessee. Two of the closures had been previously announced, including a castings factory in Massena, N.Y., which closed May 1. Three of the facilities to close are parts centers and three factories could reopen if market demand rebounds.

The move was expected after GM cut a deal last month with the United Auto Workers as parts of its effort to smooth the company's path through bankruptcy. Around 20,000 factory jobs - more than one-third of GM's U.S. hourly workforce - are slated to go under the auto maker's plans.

The closures also include assembly plants in Orion, Mich, and Pontiac, Mich, Spring Hill, Tenn., and Wilmington, Del. Stamping plants in Grand Rapids, Mich.; Pontiac, Mich.; Indianapolis, Ind.; and Mansfield, Ohio will close. Powertrain factories in Livonia, Michi, Flint, Mich.; Willow Run, Mich.; and Parma, Ohio will close. One idled factory will be converted to a small car plans where GM will build a subcompact.

-By Sharon Terlep, Dow Jones Newswires

 
 

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