BMW turns its focus to Rover plant

Article Abstract:

Germany's Bayerische Motern Werke AG's (BMW) new chairman Joachim Milberg announced that he seeks to reach a deal in the next month with the British government for aid to restructure the main plant that its Rover unit has in Longbridge (UK). The proposed overhaul would be so that the factory could launch production of a new midrange sedan. He would not confirm reports that his firm is seeking up to 200 million pounds sterling (US$323.1 million) from the government. However, Milberg did say that if British do not offer attractive terms, BMW is seriously considering constructing the new car in Hungary.

Comment:

BMW's new chrmn J Milberg seeking to reach deal in next month with British govt for aid to restructure Rover's main UK plt

Financial management, Utility Vehicles, Light Truck and Utility Vehicle Manufacturing, Finance, Sport utility vehicles, Sport-utility vehicles

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BMW board bears down on Rover

Article Abstract:

Bayerische Motoren Werke AG CEO Bernd Pischetsrieder has been taken to task by BMW's supervisory board for not taking action sooner to stop the losses at Rover Group PLC. Rover CEO Walter Hasselkus, a BMW appointee, stepped down in early Dec 1998, and BMW said that its Rover unit would cut 7% of its workforce, or 2,500 jobs. Rover is expected to post a $3 million loss for 1998.

Motor vehicles and car bodies, Strategy & planning, Germany, Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Management, Abstract, Automobile industry, Rover Group PLC

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