NYCshopper
01-20-2006, 05:53 PM
VW to build a new model at Portugal plant for release in H1 2008
http://www.forbes.com/markets/feeds/afx/2006/01/20/afx2464136.html
WOLFSBURG, Germany (AFX) - Volkwagen AG said it is to build a new model at its Setubal plant in Portugal which is due to come onto the market in the first half of 2008.
The Setubal plant, where VW's Sharan and Cabrio Eos models are manufactued, was chosen for the lower costs there, a spokeswoman said.
She declined to give details of the new model.
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http://abcnews.go.com/Business/wireStory?id=1525328&ad=true
FRANKFURT, Germany Jan 20, 2006 — German automaker Volkswagen AG said Friday it would build a new model of car at its sprawling Autoeuropa plant in Setubal, Portugal.
"The decision to build a new model at Autoeuropa in Portugal is based on the competitive cost level at the Setubal facility as well as the positive framework which was established in cooperation with the Portuguese government and labor representatives," VW Chairman Wolfgang Bernhard said in a statement.
Autoeuropa is the biggest foreign investment project in Portugal. Volkswagen has invested more than 2 billion euros ($2.4 billion) in the plant, which opened in 1995.
The factory produced nearly 80,000 cars in 2005, including the VW Sharan and Eos models, the SEAT Alhambra and the Ford Galaxy. It employs nearly 2,800 workers.
Volkswagen didn't offer any details about the new model or under which brand it would.
Shares of VW were down 0.3 percent to 46.43 euros ($56.05) in Frankfurt trading.
http://www.forbes.com/markets/feeds/afx/2006/01/20/afx2464136.html
WOLFSBURG, Germany (AFX) - Volkwagen AG said it is to build a new model at its Setubal plant in Portugal which is due to come onto the market in the first half of 2008.
The Setubal plant, where VW's Sharan and Cabrio Eos models are manufactued, was chosen for the lower costs there, a spokeswoman said.
She declined to give details of the new model.
&
http://abcnews.go.com/Business/wireStory?id=1525328&ad=true
FRANKFURT, Germany Jan 20, 2006 — German automaker Volkswagen AG said Friday it would build a new model of car at its sprawling Autoeuropa plant in Setubal, Portugal.
"The decision to build a new model at Autoeuropa in Portugal is based on the competitive cost level at the Setubal facility as well as the positive framework which was established in cooperation with the Portuguese government and labor representatives," VW Chairman Wolfgang Bernhard said in a statement.
Autoeuropa is the biggest foreign investment project in Portugal. Volkswagen has invested more than 2 billion euros ($2.4 billion) in the plant, which opened in 1995.
The factory produced nearly 80,000 cars in 2005, including the VW Sharan and Eos models, the SEAT Alhambra and the Ford Galaxy. It employs nearly 2,800 workers.
Volkswagen didn't offer any details about the new model or under which brand it would.
Shares of VW were down 0.3 percent to 46.43 euros ($56.05) in Frankfurt trading.