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VW will remain independent
29th October, 2007
Volkswagen AG, worlds automobile giant, will remain an independent carmaker, even after a possible acquisition of the company by Porsche AG , chief executive Martin Winterkorn told Sueddeutsche Zeitung
The Volkswagen Group, after assessment of CEO Martin Winterkorn even after a possible takeover by Porsche preserve its independence.
Volkswagen is one of the most famous and popular brands in the world. It represents an immense value dar. That is why they must be carefully maintained, "Winterkorn said on Saturday.VW-Chef Martin Winterkorn underscores the value of the Volkswagen brand.
He had no problems, may soon only head of a subsidiary company of Porsche Holding to be: "If it would be, I remain chief of manufacturer in the world. Furthermore: Beautiful daughters often leave their mothers look more attractive. "
Closer cooperation with Porsche
Winter grain was open to a closer cooperation with the major shareholder Porsche. It is certainly possible that the existing cooperation further. He can see opportunities especially in the area of vehicle electronics" The car electronics is also an interesting field of work with high synergy potential," said Winterkorn the newspaper The development costs for this are relatively high“ If the maximum number of vehicles to distribute will be the thing a lot cheaper. "
Porsche denied breaking
A Porsche company spokesman dismissed a report by the "Business Week" about a possible split in the VW-Konzerns into its individual brands strictly back: "That is absolute nonsense. . This information is fictitious. Anyone who knows us knows that we are not thinking, "he said of dpa. Also, the much higher than previously assumed annual profit from the magazine in which the speech was described by the spokesman as "pure speculation".
Porsche works council chief Huck said on Saturday in Stuttgart, he was a compromise with the occupation of a future operation Council prepared and confirmed with a "Focus" report. The magazine says that the designated IG-Metall-Vorsitzende Berthold Huber both in the trade union headquarters in Frankfurt invited. "Even if we in the trial win, we must work together," said Huck.
"I rich not only my hand, but my whole arm."
IG Metall: Huber imparts
'Automotive electronics are an interesting division with high potential for synergies,' he said.
'Electronics will soon account for 30 pct of a car's cost, and the development costs are relatively high,' he added, saying applying the same technology to a larger number of cars would help lower costs.
He also said Volkswagen does not need to fear its competitors after the EU Court of Justice ruled 'illegal' the 'Volkswagen law' that among other things states that a shareholder can only have a maximum of 20 pct voting rights, regardless of the number of shares it holds.
'We have two big investors, the state of Lower Saxony and Porsche, who will protect us from hostile takeovers and both of whom have great interest in a strong, healthy, future-oriented Volkswagen company,' Winterkorn said.
Commenting on the company's cars, he said Volkswagen still have 'enormous' room to expand its palette of SUVs, vans and off-road vehicles.
He said thanks to modular building blocks used to design cars, 'we have entirely new opportunities to make niche models at low cost and with very good profit margins.
Release link:
http://www.automobiledir.com/press
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