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EU to meet with GM execs

2009-03-11 06:46

Brussels - The European Commission will hold a meeting with executives of embattled automaker General Motors and other stakeholders on Friday, a spokesman for the EU's executive arm said.

"We have invited for next Friday the highest representatives from General Motors Europe and Detroit. We hope that the COO from Detroit will be coming," spokesman Ton van Lierop told a news briefing.

He added that the industry and economy ministers from all 27 EU countries had been invited to the informal meeting with the US car giant and expected those with affected plants and suppliers to attend.

The automaker's European affiliates and suppliers including Germany's Opel which employs about 25 000 and UK-based Vauxhall, have come under pressure as the worse recession in decades threatens the survival of the Detroit-based parent company.

GM Europe submitted a rescue plan for the units last month under which they would be partly spun off.

It said an independent unit would need 3.3 billion euros in state aid, but this has been met with a cautious response from German authorities.


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