Key Developments: Volkswagen AG (VOWG_p.DE)

VOWG_p.DE on Xetra

24 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Volkswagen AG plans investment in India-Business Standard
Tuesday, 15 Jul 2014 04:02am EDT 

Volkswagen AG:Plans to spend 15.00 bln Indian Rupees ($250 million) in India over the next five to six years, a senior company executive told reporters-Business Standard.The president and managing director of Volkswagen India Pvt Ltd, also said the company could increase its India plant capacity to 200,000 cars a year from 130,000.Volkswagen is evaluating manufacturing engines in India, Kodumudi said.  Full Article

Volkswagen AG to build two new plants in China-Business Standard
Tuesday, 8 Jul 2014 03:48am EDT 

Volkswagen AG:Will build two new vehicle plants in China as it invests $2.7 billion along with its partner - FAW-Business Standard.The two firms will together spend around two billion euros to expand production capacity, VW said.  Full Article

Volkswagen AG reiterates FY 2014 revenue outlook
Monday, 28 Apr 2014 08:00pm EDT 

Volkswagen AG:Expects FY 2014 sales revenue for group and its business areas to move within range of 3 pct around prior-year figure.FY 2013 sales revenue of 197.0 billion euros.FY 2014 revenue estimate 200.86 billion euros - Thomson Reuters I/B/E/S.  Full Article

Volkswagen AG to lay off 900 autoworkers in two Brazilian states - Reuters
Friday, 25 Apr 2014 06:48am EDT 

Volkswagen AG:To lay off about 900 autoworkers at two Brazilian plants - Reuters.Layoffs at Volkswagen plants in Sao Bernardo do Campo outside of Sao Paulo, and in Sao Jose dos Pinhais in Brazil's southern state of Parana to begin May 5, according to Brazil's Metalworkers' Union.Despite layoffs, Volkswagen said it has made no changes to its plan to invest $10 billion (5 billion pounds) in Brazil by end of 2018.  Full Article

Alecta and several minority owners reject Volkswagen offer for Scania AB-Reuters
Wednesday, 23 Apr 2014 02:09am EDT 

Scania AB:Alecta has chosen not to accept the 200 per share offer for the outstanding stock in Scania made by Volkswagen-Reuters.In Alecta opinion the price does not reflect the fundamental value of the truck maker.As per March 31 Alecta's holding in Scania was about 2 percent.The decision by Alecta and several other minority owners to reject the offer leaves in doubt whether VW will secure the 90 percent acceptance it has set to complete the bid.  Full Article

Volkswagen AG invests over $1 bln in van factory in Poland-Reuters
Tuesday, 18 Mar 2014 06:24am EDT 

Volkswagen AG:Volkswagen AG will invest nearly 3.4 billion Polish zlotys ($1.12 billion) in a van factory that is to be located in the Polish city of Wrzesnia, the Polish state investment agency PAIiIZ said on March 18-Reuters.The agency added that the plant will employ more than 2300 people and will begin production in 2016.  Full Article

Independent Committee of Scania Board recommends shareholders not to accept Volkswagen offer
Tuesday, 18 Mar 2014 02:00am EDT 

Scania AB:Says Independent Committee of the Scania Board of Directors recommends Scania shareholders not to accept tender offer made by Volkswagen Group.The Committee believes the offer does not reflect the long-term fundamental value of Scania and a fair share of the expected synergy potential.Volkswagen Group announced its tender offer for shares in Scania on Feb. 21.  Full Article

Volkswagen AG gives FY 2014 revenue outlook in line with analysts' estimates and proposes FY 2013 dividend; to submit voluntary tender offer to shareholders of Scania Aktiebolag
Friday, 21 Feb 2014 12:46pm EST 

Volkswagen AG:Expects FY 2014 sales revenue to move within a range of 3 pct around the prior-year figure, depending on economic conditions.FY 2013 sales revenue of 197,007 million euro.FY 2014 revenue of 203,536 million euro - Thomson Reuters I/B/E/S.Proposes to increase dividend to 4.00 euro per ordinary share and 4.06 euro per preferred share for FY 2013.Resolved to submit voluntary tender offer to shareholders of Scania Aktiebolag (Scania) for all A and B shares in Scania.Offers for each Scania share 200 Swiss crowns (aproximately 22.26 euro).Based on this offer price, 298,910,903 shares correspond to total value of approximately 6.7 billion euro.The offer represents 57.0 pct and 53.3 pct for A and B shares in Scania, respectively.Offer will be subject to, among others, to condition that Volkswagen through the offer becomes owner of more than 90 pct of total number of shares in Scania.After exceeding threshold of 90 pct Volkswagen will perform a squeeze-out and promote delisting of Scania shares from the stock exchange.  Full Article

Volkswagen AG's subsidiary to raise Indian Rupees one bln via bonds-Reuters
Tuesday, 3 Dec 2013 06:27am EST 

Volkswagen AG:Subsidiary Volkswagen Finance Pvt Ltd plans to raise Indian Rupees one billion ($16 million) through 18-month bonds at 9.85 pct-Reuters.HSBC India is the sole arranger for this tranche of fund raising for the financing arm of the German automaker.  Full Article

Volkswagen AG Reiterates FY 2013 Guidance
Wednesday, 30 Oct 2013 03:33am EDT 

Volkswagen AG announced that its Board of Management has reiterated its forecast for the fiscal year 2013 with sales revenue to exceed the prior fiscal year's 2012 figure.  Full Article


U.S. auto sales seen rising 9 percent in July: JD Power-LMC

DETROIT - U.S. auto sales in July will be the strongest for the month since 2006, and rise 9 percent from last year, automotive industry consultants J.D. Power and LMC Automotive predicted on Thursday.

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