Magna Takes Over Opel

Saturday, May 30th, 2009

After the guessing on who would succeed the Opel brand, Magna of Canada is the likely successor of the General Motors line. General Motors is on the brink of filing bankruptcy but as far as their brands are concerned, successors are being wooed to take over.

But while that may sound like a big sigh of relief, it is no easy picking. The partnership is expected to encounter rough sailing similar to that of a new company being brought up and make its way into the automotive industry niche.

While Opel is a popular brand, one cannot deny that that tarnish of a bankrupt GM company looms over its head. It may take some time for the new ownership to sink in and hopefully Magna comes up with great strategies to overcome these boundaries.

A more conciliatory Merkel on Saturday said a telephone call to President Barack Obama had helped seal the deal. But she lashed out at what she called the “huge mismanagement” by GM executives.

(Source) AFP

Tags: automotive industry, Barack Obama, boundaries, filing bankruptcy, General Motors, GM, gm executives, magna, merkel, Opel, partnership, seal the deal, telephone call

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