/ Industry, News, Volkswagen / VW Labor Chief Rejects Further Acquisitions

VW Labor Chief Rejects Further Acquisitions

Linked In Share
VW Labor Chief Rejects Further Acquisitions

VW labor representatives announced they will reject any future acquisitions by the company, especially of Proton.

Therefore Volkswagen will choose either a minority holding in Proton or a controlling stake to keep up with the growing demand in southeast Asian markets. Europe’s largest carmaker surpassed Toyota becoming the world’s second-largest car maker.

Over the past years Volkswagen had plans to acquire different automakers such as Porsche, MAN, Scania and Ducati in an attempt to surpass GM by 2018.

“We already have 12 brands and we first have to stabilize the group. “Even though further sales and production sites in south-east Asia are important, there is no support from the labor side for a purchase of Proton,” said Bernd Osterloh, labor chief of Volkswagen.

Earlier this month Volkswagen closed a deal with Porsche to create an integrated automotive group. According to this agreement Porsche contributes 50.1% of its business to VW for the total profit of 4.49 billion euro.

DRB-HICOM, which plans to take control over Proton, plans to include VW in this deal, so that both parties would share management and control over the company. But no official statements were given about such an agreement.

by Ana Cezara Savin (my Google+) - Monday, August 20th, 2012 - filed under Industry, News, Volkswagen. Image credit: .
Linked In Share
Related Articles
acquisitions labor representatives proton Volkswagen


Discuss: VW Labor Chief Rejects Further Acquisitions

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Porsche 911 S Martini Racing Edition unveiled
Porsche 911 S Martini Racing Edition unveiledPorsche has introduced the 911 S Martini Racing Edition which is celebrating the company’s return to Le Mans. The brand new ...
New-gen Renault Espace caught on the road
New-gen Renault Espace caught on the roadA new generation of the Renault Espace has been recently spied while it was being tested out. Renault is currently testing out ...
Alfa Romeo 4C Spider gets spied
Alfa Romeo 4C Spider gets spiedOur spy photographers have managed to capture the production version of the Alfa Romeo 4C Spider while it was being tested ...
Chrysler Group issues two separate recalls
Chrysler Group issues two separate recallsThe Chrysler Group has announced two separate recalls which are affecting the Ram ProMaster and the Dodge Durango, Jeep Cherokee, ...
[VIDEO] Lamborghini Huracan arrives in the Netherlands
[VIDEO] Lamborghini Huracan arrives in the NetherlandsThe first unit of the Lamborghini Huracan has recently made its debut in the Netherlands as the new supercar has managed to ...
Recall Roundup: Jeep Grand Cherokee in Australia
Recall Roundup: Jeep Grand Cherokee in AustraliaJeep has issued a recall in Australia for its 2014 Grand Cherokee and Grand Cherokee SRT because of a problem with the adaptive ...
[VIDEO] 2015 Dodge Challenger SRT Hellcat revving its engine once more
[VIDEO] 2015 Dodge Challenger SRT Hellcat revving its engine once moreA new video find starring the 2015 Dodge Challenger SRT Hellcat is showing the muscle car revving its engine once more. The ...
2015 Chevrolet Corvette Z06 gets detailed
2015 Chevrolet Corvette Z06 gets detailedChevrolet has released new details on the 2015 Corvette Z06, which is the most powerful road-going car ever produced by General ...
Three New General Motors Recalls Announced
Three New General Motors Recalls AnnouncedGeneral Motors has issued another three separate recalls which is contributing to the frenzy of almost 16 million units recalled ...
Three-door BMW X6 rendered
Three-door BMW X6 renderedThe new generation of the BMW X6 has been rendered in yet another body style, which is cutting down its two rear doors, making it ...
No GT 86 Hybrid, Toyota says
No GT 86 Hybrid, Toyota saysToyota will not be producing a hybrid version of the GT 86 sports car as there isn’t a market for such a model. The GT 86 ...
South Korean Spirra Electric Sports Car going to Europe, will cost EUR200k
South Korean Spirra Electric Sports Car going to Europe, will cost EUR200kThe South Korean company called Oullim Motors will be introducing an electric version of the Spirra on the Old Continent, where ...
Lotus Exige LF1 Limited Edition announced
Lotus Exige LF1 Limited Edition announcedThe new Lotus Exige LF1 has been announced for production as the model will become available in a limited edition in all markets, ...
Alfa Romeo MiTo and Giulietta Quadrifoglio Verde going to Goodwood
Alfa Romeo MiTo and Giulietta Quadrifoglio Verde going to GoodwoodAlfa Romeo will be officially presenting the MiTo and the Giulietta Quadrifoglio Verde at this month’s Goodwood Festival of ...
[Video] Popular web series featuring Seinfeld reaches fourth season
[Video] Popular web series featuring Seinfeld reaches fourth seasonIf you still mourn the end of the popular comedy show “Seinfeld”, you should know the popular comedian is still bringing joy ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

porsche 911 s martini racing edition 1
Spy-Shots of Cars
Spy-Shots of Cars
Lotus Exige LF1 Limited Edition 1
Alfa Romeo MiTo and Giulietta Quadrifoglio Verde 1
BMW Individual 6-Series Gran Coupe Bang & Olufsen Edition 1
MINI Cooper SD 1
FPV GT F Limited Edition 1
audi rs1 sportback render 1
2015 subaru outback 1
ferrari laferrari silver 1
Abarth 695 Biposto gumball 3000 2014 1

More automotive from inautonews
Porsche has introduced the 911 S Martini Racing Edition which is celebrating the company’s return to Le Mans. The brand new Porsche 911 S Martini Racing Edition has been designed to celebrate the company’s return to Le Mans, after 16 years. The sports car can be ordered with a white or black ...
read more
Inautonews Editors Section
Car investment – which are the next classics?
Car investment – which are the next classics?Some prefer the stock exchange, others buy gold and some invest in properties, but there is a small group of people who prefer to try their luck with ...
Where brand new cars go to die
Where brand new cars go to dieHundreds of millions of brand new cars are left to rust in huge parking lots all over the globe after no one wants to buy them. The 2014 world ...
Trendy cars for this summer
Trendy cars for this summerSummer is just around the corner and the inautonews.com team is presenting you with some of the hottest convertibles money can buy these ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Chrysler Group issues two separate recallsThe Chrysler Group has announced two separate recalls which are affecting the Ram ProMaster and the ... Three New General Motors Recalls AnnouncedGeneral Motors has issued another three separate recalls which is contributing to the frenzy of ...
Safety Section