Opel's New Owner will Move Part of Production in Germany and Austria Hungary

The new owner of the Opel company will move production to sites in Hungary and Austria from the two factories in Germany, announced Friday newspaper Handelsblatt, cited by portfolio.

German newspaper said the Canadian Magna Group, a manufacturer of automotive parts, which will take control Opel with Russian bank OAO Sberbank and Russian car manufacturer GAZ, will transfer production of engines at its factory in Bochum and Russelsheim the locations of Aspern and Szentgotthard .

Magna will keep assembly operations in Bochum, Eisenach and Russelsheim and engine factory in Kaiserslautern is still operational.

Because of this transfer, approximately 3600 jobs will disappear from the German Opel division.

The new owner is optimistic but also in terms of prospects in Russia. Under the business plan disclosed by Handelsblatt, Magna wants to buy Russian division of Chevrolet brand, owned by General Motors, all with Sberbank.

Through this transaction, the production and marketing of the Chevrolet brand on Russian market will return Magna group. Chevrolet brand is the third in rank preferences Russians, with around 450,000 sold cars per year.

Magna intends to sell 350,000 models Chevrolet and Opel models 200,000 per year to the Russian market in 2014. Adding to the production of gas, the total would rise to 700,000 cars per year, almost half the production capacity of a "new Opel.

Magna will acquire a holding of 20% and Opel in Russian bank Sberbank will buy 35%, with industrial partner as Russian car manufacturer GAZ, owned by billionaire Oleg Deripaska.

This consortium will be majority shareholder, General Motors will control 35% of the company and Opel remaining 10%.