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Opel to unveil restructuring plan

By The Associated Press

Tuesday, February 09, 2010

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General Motors Co.'s Opel unit plans to detail its restructuring plan for the European automaker on Tuesday.

The company says Chief Executive Nick Reilly will present his plan for its future in Frankfurt.

Reilly said last month that Opel plans to close its plant in Antwerp, Belgium as the company sheds manufacturing capacity.

He so far has said that the restructuring plan will result in about 8,300 job losses across Europe.

Opel and British sister brand Vauxhall employ around 48,000 people in Europe, about half of them in Germany.

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