UK gov't gives GM loan guarantee for Vauxhall

Posted In: Manufacturing

By The Associated Press

Friday, March 12, 2010


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The British government says it's giving a 270 million pound ($410 million) loan guarantee to General Motors Co. to help keep its Vauxhall operations going in Britain.

UK Business Secretary Peter Mandelson says the deal announced Friday follows "highly complex" talks between the government and the U.S.-based car maker.

Union leaders representing workers at the two Vauxhall plants in Britain have welcomed the announcement, saying it would safeguard jobs.

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