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GM mulls buyback of French gearbox factory

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GM mulls buyback of French gearbox factory

June 14, 2010 15:16 CET

FRANKFURT, Germany (Reuters) -- General Motors said it may buy back its French powertrain factory, in a sign that the auto maker is reversing some of the retrenchment steps it took during the downturn.

The factory, which makes automatic gear boxes and other related components, and which employs about 1,100 employees, was placed into the Motors Liquidation company, a separate unit set up to house parts of General Motors that were set to be wound down.

A spokesman for General Motors in Ruesselsheim, Germany said on Monday management was considering buying the powertrain manufacturing and engineering facility in Alsace, France.

In November, General Motors said it had appointed banks to find a buyer for the factory.

Read more: http://www.autonews.com/article/20100614/ANE/306149906/1193#ixzz0qq5Sw3Na

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