General Motors Eyeing Sale of French Plant

The plant, which employs 1,000 people, last year produced some 280,000 six-speed automatic transmissions, mostly for customers outside of Europe.

General Motors Co. (IW 500/5) on Wednesday said it has begun a detailed evaluation of its factory in the eastern French city of Strasbourg with an eye toward its possible sale.

"GM is committed to exploring internal and external options to identify potential viable alternatives and solutions to secure the future of the complex," the automaker said in a statement.

The plant, which employs 1,000 people, last year produced some 280,000 six-speed automatic transmissions, mostly for customers outside of Europe.

GM announced a pact with French carmaker PSA Peugeot Citroen (IW 1000/43) in February and has since taken a 7% stake in the company, becoming the second-largest shareholder after the Peugeot family.

The companies said they plan to join forces on purchasing and share certain car platforms but will continue to market their vehicles independently and competitively.

Copyright Agence France-Presse, 2012

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