General Motors has signed an agreement to buy back the Strasbourg transmission production unit in France from Motors Liquidation Company (MLC), the former General Motors Corporation charged with selling off GM’s unwanted assets. The deal is expected to close in the coming months.
GM first announced its intention to sell the powertrain facility in 2008. Plans changed when the OEM declared bankruptcy and the unit became part of MLC.
The Strasbourg facility employs around 1,100 people and specialises in six-speed automatic transmissions. It supplies GM’s global operations as well as other car manufacturers.