UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) October 6, 2009
GENERAL MOTORS COMPANY
(Exact Name of Company as Specified in its Charter)
| 333-160471 | DELAWARE | 27-0383222 | ||
| (Commission File Number) | (State or other jurisdiction of incorporation) |
(I.R.S. Employer Identification No.) |
| 300 Renaissance Center, Detroit, Michigan | 48265-3000 | |
| (Address of Principal Executive Offices) | (Zip Code) |
(313) 556-5000
(Company’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the company under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17-CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 8.01 Other Events
On October 6, 2009, General Motors Company (GM) issued a news release announcing Delphi’s emergence from bankruptcy and the closing of the components and steering transactions. The news release is attached as Exhibit 99.1.
ITEM 9.01 Financial Statements and Exhibits
| Exhibit Number |
Description | |
| Exhibit 99.1 | News release dated October 6, 2009 | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GENERAL MOTORS COMPANY (Company) | ||||
| Date: October 9, 2009 | By: | /S/ NICK S. CYPRUS | ||
| Nick S. Cyprus | ||||
| Vice President, Controller and Chief Accounting Officer | ||||
Exhibit 99.1
October 6, 2009
GM Statement on Delphi’s Emergence from Bankruptcy and the
Closing of the Components and Steering Transactions
GM is pleased to close its transactions with Delphi and the Delphi debtor-in-possession (DIP) lenders, resulting in Delphi’s emergence from bankruptcy.
Under the agreement, which was announced in July, GM and the Delphi DIP lenders formed a new company which acquired substantially all of Delphi’s assets, other than the assets GM acquired directly. GM and the Delphi DIP lenders have both provided capital investment and back-up financing to the new company.
“We’re pleased to see a final resolution to the bankruptcy and wish the newly emerged Delphi success,” said GM President and CEO Fritz Henderson. “The closing transactions allow Delphi to effectively serve its customers by focusing on its core business. The agreements also enable GM to access essential components and steering technologies.”
GM created two new, wholly owned subsidiaries under the agreement – GM Components Holdings LLC, and Steering Solutions Services Corporation. GM Components Holdings LLC includes four former Delphi component manufacturing facilities in Kokomo, Indiana; Rochester, New York; Lockport, New York; and Grand Rapids, Michigan. Steering Solutions Services Corporation includes all of Delphi’s Saginaw steering operations and most of the steering manufacturing operations and engineering centers in Europe, Mexico, South America and Asia.
While final overseas approvals are still pending, the parties have been able to complete the transactions for the two subsidiaries, which provide GM with critical parts and technologies that are necessary to build its cars and trucks. In addition, the subsidiaries also have more than 60 non-GM customers in the automotive, motorcycle and heavy equipment industries. The new subsidiaries will provide all customers with reliable supplies and protect their intellectual property.
About General Motors: General Motors Company, one of the world’s largest automakers, traces its roots back to 1908. With its global headquarters in Detroit, GM employs 219,000 people in every major region of the world and does business in some 140 countries. GM and its strategic partners produce cars and trucks in 34 countries, and sell and service these vehicles through the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Opel, Vauxhall and Wuling. GM’s largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. General Motors Company acquired operations from General Motors Corporation on July 10, 2009, and references to prior periods in this and other press materials refer to operations of the old General Motors Corporation. More information on the new General Motors Company can be found at www.gm.com.
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Contacts:
Brenda Rios
(313) 665-3165 (office)
(313) 268-4710 (cell)
Brenda.rios@gm.com
Reneé Rashid-Merem
313-665-3128 (office)
313-701-8560 (cell)
renee.rashid-merem@gm.com