GM in talks to sell French factory to ZF Friedrichshafen, Punch
November 26, 2012
General Motors Co. is in talks to sell its vehicle-transmission factory in Strasbourg, France, to ZF Friedrichshafen and Punch International.
ZF and Punch are bidding jointly to acquire the plant, said GM spokesman Stefan Weinmann. "We continue to be in discussions, but this is not a done deal," he said, declining to specify a possible price.
Punch spokesman Marc Maes said ZF and Punch are in advanced negotiations to produce 8-speed automatic transmissions for ZF at the factory. Torsten Fiddelke, a ZF Friedrichshafen spokesman, confirmed the company was involved in talks on the plant.
About 1,000 people work at the factory, which produced roughly 280,000 six-speed automatic transmissions last year. The plant, founded in 1967, has primarily supplied non-European GM divisions.
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