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It's a matter of Trust - GM to move European headquarters to Germany

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General Motors Co. wants to move its European headquarters to Germany from Switzerland before the end of the year, an Opel spokesman said Saturday.

By moving its headquarters from Zurich to Adam Opel GmbH's Ruesselsheim headquarters in Germany, the company wants to strengthen its subsidiary Opel, spokesman Ulrich Weber said. GM's Chevrolet brand will continue to keep its headquarters in Zurich.

Last week, GM called off the planned sale of Germany-based Opel to car parts maker Magna and Russian lender Sberbank.

German Chancellor Angela Merkel had favored that deal to save jobs. Merkel now says she wants GM to present a restructuring plan that gives Opel Europe and the German sites the chance of a good future.

Between 200 and 250 employees worked at headquarters in Zurich, according to Weber, but most have already returned to their home countries and many of whom had originally come from Ruesselsheim.

Link: http://www.businessweek.com/ap/financialnews/D9BVA8L80.htm

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