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GM Europe supplied with £270m government loan

15 March 2010
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GM Europe supplied with £270m government loanA loan totalling €300 million (£270 million) has been approved by the government for GM Europe.

Intended to secure the future of the carmaker''s operations in Britain and further afield, the financial assistance will be delivered under the UK Automotive Assistance Programme.

The Department for Business, Innovation and Skills'' loan is in addition to help for the manufacturer from the US and other governments in Europe, something that may interest those working in operations management.

Business secretary Lord Mandelson explained the funding guarantee is part of a commitment by ministers to "stand foursquare behind Vauxhall" and its workforce.

"We need Vauxhall to thrive as part of Britain''s automotive manufacturing base and following our negotiations with GM Europe I am confident it will do so," he declared.

Meanwhile, Japanese carmaker Toyota has been forced into improving manufacturing processes and reviewing its operations management after 180,000 vehicles were recalled in the UK over concerns relating to faulty accelerator pedals.ADNFCR-3058-ID-19668756-ADNFCR
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