GM's British Venture with Renault to Create 900 Jobs

12/23/96

Reuters reports that GM and Renault have announced their plans to team up for a $300.9 million joint venture that will build medium-sized vans in Luton, England. The move will create 900 new jobs and preserve 1,800 existing jobs at the IBC Vehicles plant. Calling the investment a sign of confidence in the British motor industry, minister Greg Knight of the British Department of Trade and Industry said, "This is excellent news for IBC Vehicles and for Luton." Notice of the new investment follows the October announcement from Vauxhall--GM's UK unit--of a 300 million pounds investment in its Ellsemere Port plant in northwest England.

Paul Dever -- The Auto Channel