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News Article - Automotive
General Motors moves back into Eastern Cape
Posted on: Friday, 13 July 2001. Article source: Eastern Cape Business News
US AUTOMOTIVE giant General Motors is finalising the purchase of a controlling share of the Port Elizabeth-based Delta Motor Corporation. General Motors, which disinvested in the region during the 1980’s, currently has a 49 per cent stake in Delta, which assembles Opel, Isuzu and Fiat vehicles. Delta manager of corporate communications Denise van Huyssteen confirmed GM had expressed interest in increasing its shares in the local manufacturer. She said negotiations were expected to take several months. GM bought a 47 per cent stake in the company in December 1997, with the option to buy additional equity in the future. The purchase is expected to give Delta access to more export markets. Nissan, Ford and Toyota have already struck similar deals with their parent companies.
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