The regional government of Flanders in Belgium has confirmed that it will acquiesce to Volvo’s recent appeal for help.
Volvo Cars CEO Stephen Odell met Kris Peeters, Flemish First Minister, on Monday for talks on how the government could provide requested loan guarantees to the car maker which operates a factory in Gent, The Local reports.
Both parties reported they were happy with the meeting and the Flemish government confirmed its willingness to support Volvo.
“It is important that the factory in Gent has a future. The jobs there are very important,” Peeters told the media.
“Under certain conditions we are prepared to provide guarantees of EUR 200 million to 300 million for the European Investment Bank loans.”
The deal will be finalised at more formal talks at a later date.
or it could be easier: ‘death solves all problems’ ;)
Alexander so right you are.
feels frustrating to work for a company whose cars are among the most flawless in GM.
Our factory is on the Top 5 of the most productive plants in Europe. And then to realize all that hard work counts for nothing, only thing that counts is much money politicians in other countries can roll over, in order to move my job to their little corner of Europe.
Life sucks, then you die :(
Alexander E. said: 4.
It’s one of the basic rules of “free market” – profits are private, losses are public :-) And to make it work we have a “democracy” – elected politicians who “represent” yours and mine will… indeed :-(
Darn-it, all this time I had capitalist and socialist backwards!!
A shame that decisions are based on how much and cheap politicians can loan tax-payers money to companies. Instead of looking at business related values.
Optimist. You really don’t get it! :-)
It’s one of the basic rules of “free market” – profits are private, losses are public :-) And to make it work we have a “democracy” – elected politicians who “represent” yours and mine will… indeed :-(
This reminds me Lee Iacocca and Chrysler Corporation in the 1980s. Nothing new under the Sun so far. Just new generations rediscovering the forgotten past.
WAKE UP VOLVO AND EUROPE YOU NOT GOING TO SURVIVE WITH NO ONE BUYING YOUR GAS GUZZLAR YOU PRODUCING TOO MUCH CARS IN EUROPE FIRED ALL THE EXTRA WORKERS AND GET BACK TO REALITY MAKE SIMPLE AND ECONOMY CARS FOR THE WORLD MAYBE YOU CAN ALSO EXPORT THEM TO NORTH KOREA,IRAN,ALBANIA ICELAND
Hmm, nearly 4000 ppl work at the Volvo plant in Gent.
No doubt they are terrified that new ownership in Volvo will concentrate production in Sweden, so saving those jobs is top priority, and if they can put the Gothemburg plant out of business too that would be an extra boon.
A shame that decisions are based on how much and cheap politicians can loan tax-payers money to companies. Instead of looking at business related values.