03/24/2012 07:07 EDT | Updated 05/24/2012 05:12 EDT

Report: GM Europe chief rejects talk of plant closures soon as unit tackles losses

BERLIN - The head of General Motors Co.'s European operation is rejecting speculation that the company may be about to decide on plant closures as it tries to stem losses.

GM Europe lost $700 million in 2011 and company officials have expressed their determination to turn around the Opel and Vauxhall brands. Media reports this week suggested plants in Germany and England could be in danger.

But GM Europe chief Karl-Friedrich Stracke was quoted Saturday as telling Germany's Bild daily that the company is committed to securing its current facilities "until the end of 2014 — and that stands."

Asked about a supervisory board meeting next week, he replied: "We will of course speak about how we can shape the business more profitably. But there is no decision about plant closures on the agenda."