reuters.com

GM Sets Up $4.5B Purchasing Facility to Secure Critical Parts Supply

General Motors logoGeneral Motors
Sig2.80Sen+2.30Env0.00Soc0.00Gov+0.80

General Motors entered an agreement with third-party inventory management firm Procura Auto Parts to ensure access to future supplies of critical parts. In a regulatory filing, GM said it set up a $4.5 billion purchasing facility under which Procura will buy certain parts from suppliers, helping GM free working capital.

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