Madrid  - Spanish trade unions and the Canadian-Austrian Magna consortium have reached a basic agreement guaranteeing the future of a Spanish Opel factory for the next 10 years, Spanish Industry Minister Miguel Sebastian said Thursday.

The agreement contained a "competitive" industrial plan for the factory in Figueruelas in northern Spain, according to the minister, who mediated in the talks.

Magna is preparing to take a majority stake in the struggling General Motors subsidiary, which has factories in several European countries.

It had faced opposition from Spanish trade unions, which announced four one-day work stoppages to protest Magna's plans to slash 1,300 of the total 7,500 jobs at the Figueruelas factory.

The agreement only foresees cutting 900 jobs.(dpa)