GM Sells Strasbourg Transmission Plant But Will Contract Use

General MotorsGMUnited States of America, 1998 > present8 models
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, Punch Metals International and ZF transmissions have signed an agreement that will allow GM to sell its transmission factory in Strasbourg, France, to Punch Metals as long as all of the workers are retained through at least 2014. ZF's transmissions will continue to be built at the plant for GM vehicles. 

The deal means that Punch Metals will acquire the factory, engineering center and workers at the campus. 

After 2014, the Strasbourg factory will start building a new ZF transmission that will go to other suppliers. Punch Metals says that it will make investments into the factory to make it ready for the future. 

While the principal parties have already agreed to the contract, it is still subject to legal approval. Both sides expect it to be officially signed in 2013.