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GM to avail itself of another 2.8 billion dollars in aid
Nov 3, 2009, 11:48 GMT
New York - Ailing US carmaker General Motors (GM) plans to draw on another 2.8 billion dollars in aid from the US government in an effort to purchase parts of Delphi, a car parts maker spun off from GM in 1999.
The Monday night announcement means the company would once again be returning to the 50-billion-dollar pot of money set aside for the company by the US government.
Delphi only emerged from insolvency this autumn. GM, one of its biggest customers, opted to take over part of Delphi's operations as part of a restructuring deal.
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