GM's Opel plant closure to cost $866M

|By:, SA News Editor

General Motors (GM) will close its Opel Bochum factory in Germany, in pursuit of bringing down its high operating costs in Europe. The company estimates it will cost a total of $866M to shut down.

The automaker already booked $381M of the cost in results from last year and Q1 of 2014. The other $485M will be deducted over the course of this year.

Opel's heavy losses have inhibited GM's European sales for most of the last decade, and the closure is seen as a key step towards GM's restructuring.

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