US: Toyota 'left with NUMMI shut-down costs'
Author: just-auto.com editorial team | 12 November 2009
Toyota may have to shoulder almost all the costs to shut the NUMMI (New United Motor Manufacturing, Inc) California joint-venture plant, as the owner of the former GM's 50% stake doesn't plan to help out, according to a Bloomberg report.
Motors Liquidation Corp., which took over General Motors' assets ('Old GM') says it doesn't plan to fund worker severance pay or other expenses. GM was a partner with Toyota in the Fremont facility.
"Motors Liquidation is not contributing at all to NUMMI's closure costs," said Tim Yost, a spokesman for Detroit-based Motors Liquidation.
"We don't believe there will be a requirement for us to do so."
Toyota said Aug. 27 it would stop using NUMMI in March, after GM decided in June to abandon the plant.
See also: US/JAPAN: Widely expected axe finally falls on Toyota NUMMI plant
Sectors: Financial, Vehicle manufacturers, Vehicle manufacturing
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US: Toyota 'left with NUMMI shut-down costs'
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