FRANKFURT, May 21 (Reuters) - Opel will finance the development of new products using wage concessions from its European workforce worth 265 million euros ($329 million) annually, a source familiar with the matter said on Friday. According to a deal worked out between labour leaders and management due to be signed next week, the savings would be administered by a trustee who would guarantee the proper use of the funds. (Reporting by Angelika Gruber)
Premium Content (PAID Subscription Required)
"Opel wage concessions to fund new models -source" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.