Mark Ruess says Holden won't be sold 'in near term'

csv8 · 08-06-2009, 05:35 PM

Mark Ruess says Holden won't be sold 'in near term'
Article from: AAP

June 07, 2009 02:03pm

THE managing director of car maker GM Holden, Mark Reuss, says Holden will not be sold, at least in the near term.

Holden's United States parent company, General Motors, has filed for bankruptcy protection in America.

"It (Holden) will not be sold," Mr Reuss told the ABC's Inside Business program.

"I can't say forever because some day when I'm not here, and more perhaps when someone may have that idea, but we have not been approached, nor have we been offered, nor are we pursuing any sale of Holden."

Mr Reuss said it was not a case of there being no potential buyers for Holden, which made a profit last month.

"I think this is a very closely held asset," he said.

"This is one of the iconic brands in Australia, and I think it always will be as long as we take care of it and feed it with the products and the different dealer services that we do today, which are very good."

Mr Reuss said earlier in June that Holden would remain unchanged by General Motors' filing for bankruptcy protection, which was the biggest bankruptcy application in US history.

He had said that Holden would join the New GM - a more efficient company comprising GM's best brands - to be launched in the US, and would concentrate on manufacturing a four-cylinder car in Adelaide from 2010, improving technology across the popular Commodore range and launching its Cruze model.

Holden employs more than 6000 people in Australia, including 3100 in South Australia with the balance spread across other states, particularly Victoria.

mcnamg · 08-06-2009, 10:16 PM

Quote:

Originally Posted by csv8

Mark Ruess says Holden won't be sold 'in near term'
Article from: AAP

June 07, 2009 02:03pm

THE managing director of car maker GM Holden, Mark Reuss, says Holden will not be sold, at least in the near term.

Holden's United States parent company, General Motors, has filed for bankruptcy protection in America.

"It (Holden) will not be sold," Mr Reuss told the ABC's Inside Business program.

"I can't say forever because some day when I'm not here, and more perhaps when someone may have that idea, but we have not been approached, nor have we been offered, nor are we pursuing any sale of Holden."

Mr Reuss said it was not a case of there being no potential buyers for Holden, which made a profit last month.

"I think this is a very closely held asset," he said.

"This is one of the iconic brands in Australia, and I think it always will be as long as we take care of it and feed it with the products and the different dealer services that we do today, which are very good."

Mr Reuss said earlier in June that Holden would remain unchanged by General Motors' filing for bankruptcy protection, which was the biggest bankruptcy application in US history.

He had said that Holden would join the New GM - a more efficient company comprising GM's best brands - to be launched in the US, and would concentrate on manufacturing a four-cylinder car in Adelaide from 2010, improving technology across the popular Commodore range and launching its Cruze model.

Holden employs more than 6000 people in Australia, including 3100 in South Australia with the balance spread across other states, particularly Victoria.

Good thing with a comment like the one Mark has made is how long is Near Future its pretty open ended and also how long is he going to be here? If he hears any unhappy rumblings from head office I am sure he will head for the hills

HSE2 · 08-06-2009, 10:43 PM

That is good news. Bias aside, and being Australian, it’s always nice to hear positives in value of our endeavour and engineering.

Mr Brooksy · 08-06-2009, 10:48 PM

I didnt know that Holden...

Quote:

which made a profit last month

????

It will be interesting to see how GM goes with the restructuring. If it goes well than Im sure Holden will stay, but what if the restructuring doesnt go so well?

naddis01 · 08-06-2009, 11:05 PM

Quote:

Originally Posted by Mr Brooksy

I didnt know that Holden... ????

It will be interesting to see how GM goes with the restructuring. If it goes well than Im sure Holden will stay, but what if the restructuring doesnt go so well?

Big deal if they made a profit for one month. They could make a profit of a million for a month then make a loss of a million for the other 11 months of the year for example. Still a loss at the end of the day.