Opel mulls five-year plan

FRANKFURT // In a bid to ensure the future of Opel's European plants, labour leaders have identified $8.4 billion (Dh30.8 billion) in wage costs that could be saved over the next five years. Opel has multiple plants across Europe and these savings could return the company to profitability by 2011. Opel will be working with an investor, most likely Magna, a Canadian car parts supplier, in a bid to safeguard the company's future. Magna has offered to invest $676 billion (Dh2.56 trillion) in Opel and asked the German government for $6.2 billion (Dh22.7 billion) in loan guarantees.