Opel execs, labour to continue restructuring talks

FRANKFURT, March 28 Wed Mar 28, 2012 10:38am EDT

FRANKFURT, March 28 (Reuters) - Opel, the loss-making European unit of General Motors, will continue talks with labour representatives over a turnaround plan after no decisions on restructuring measures were taken by the supervisory board on Wednesday.

"All participants remain in agreement that Opel must operate profitably, and take measures to increase revenue, widen margins and reduce costs," said the company in a joint statement by GM, Opel's management and its board.

"The parties have agreed to a continuation of the dialogue in order to mutually develop the optimal strategy to improve the financial situation of the company."

Earlier Opel's supervisory board convened for a regularly scheduled meeting.

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