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General Motors Co.

's Opel unit solidified plans to close its car plant in Bochum, Germany, at the end of 2014 after workers rejected a wage freeze. It is the first shutdown of an auto factory in the country since World War II.

The Opel supervisory board approved managers' decision on halting vehicle production at the site, the Ruesselsheim-based division said today in a statement.

GM's European operations, which also include Opel's UK sister brand Vauxhall, have accumulated $18 billion in losses since 1999.

GM has vowed to break even in Europe by 2015, including plans outlined on April 10 to invest 4 billion euros ($5.2 billion) mainly to bring out 23 new models and 13 engines in three years.

 


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How Did That Work Out For You? Workers Reject Wage Freeze So Opel Closes Plant

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