Opel is still uncertain on whether it will receive any financial aid from the German state following yesterday’s government committee meeting on the issue.
Officials said the meeting had “made progress” but was unclear whether Germany would support the aid request.
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Any decision on state aid is likely to be made by senior members of the government, in consultation with the states affected by Opel’s restructuring. The carmaker employs 120,000 people in Germany.
The committee has been set up to first establish whether government officials find responses submitted by the company sufficient before further decisions can be made.
Opel has requested EUR1.5bn (US$1.89 bn) in state aid. Preconditions include proof that Opel fell into difficulty no earlier than the summer of 2008 as a direct result of the financial crisis, as well as finding banks willing to finance the loans.
Opel deputy chairman Klaus Franz told Reuters: “PricewaterhouseCoopers, the economics ministry’s own independent expert, certified Opel was profitable until September 2008 and moreover has a positive future thanks to its new model range.
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By GlobalData“I await the outcome with both great hope and great expectations.”
Opel is expecting a final decision by the end of this month.
