Motors Liquidation Co. to Continue Sales Process for Facility in Strasbourg, France

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Mon Nov 9, 2009 8:01am EST

Motors Liquidation Co. to Continue Sales Process for Facility in Strasbourg,
France
Bank of America Merrill Lynch Retained as Financial Advisor



DETROIT, Nov. 9 /PRNewswire/ -- Motors Liquidation Co. (MLC), formerly known
as General Motors Corp., announced today it intends to continue with the sale
process of its powertrain manufacturing and engineering facility in
Strasbourg, France, which operates as a subsidiary of MLC. It was also
announced that Bank of America Merrill Lynch has been retained as financial
advisor for the sale.

The potential sale of the Strasbourg facility was originally announced by
General Motors Corp. in September 2008, with the stated intention of
generating liquidity for the company and allowing the Strasbourg facility to
pursue additional growth opportunities under new ownership. 

MLC, which said its efforts to sell the facility are pursuant to its ongoing
Chapter 11 bankruptcy in the U.S., also said it intends to focus on potential
buyers that would continue the manufacturing, engineering and die-casting
operations with the facility's existing customer base, suppliers and
workforce. Established in 1967, the Strasbourg facility develops and
manufactures advanced-technology automatic transmissions for passenger
vehicles made by General Motors Co. ("New GM") and BMW AG. The facility also
operates a state-of-the-art engineering center and a world-class aluminium
die-cast foundry. 

About Motors Liquidation Co.
On June 1, 2009, Motors Liquidation Company (formerly General Motors
Corporation) and certain subsidiaries filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York. An order was entered
approving the sale of substantially all of Motors Liquidation Company's assets
to a new and independent company under Section 363 of the Bankruptcy Code on
June 5, 2009. The sale closed on July 10, 2009. 

For court documents, a list of scheduled hearings, and other information
related to Motors Liquidation Company's bankruptcy proceedings, please visit
http://www.motorsliquidationdocket.com/. 




SOURCE  Motors Liquidation Co.

Tim Yost, +1-248-204-8689, +1-248-227-1694 (mobile), or Steve Blow, Eisbrenner
Public Relations, +1-248-641-1446, +1-248-303-1067 (mobile), both for Motors
Liquidation Co.
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