Australian carmaker GM Holden will remain part of the new General Motors after the company emerges from bankruptcy.
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Holden chairman and managing director Mark Reuss told the Australian Broadcasting Corp that the business is not for sale. “This is a very closely held and valuable brand. We have no plans for job losses.”
Holden has around 6,300 workers at three plants in South Australia and Victoria states. Last year it cut 600 jobs at its Adelaide factory as the global recession reduced demand for larger vehicles.
Reuss said he fully expects GM to turn a profit again, adding: “We are part of the new GM and Holden could be very profitable in Australia.”
Reuss also said that Holden’s investment plans are unchanged and that company will continue reinvest in technology.
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By GlobalData
