Word: volkswagenwerk
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Dates: during 1970-1979
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...Volkswagenwerk AG finally made it official last week: the supervisory board voted to buy a plant in the U.S. to make its fast-selling Rabbit model. The move was scarcely a surprise; VW has been talking about putting up a U.S. plant for years. Nor will the giant German automaker be the first foreign company to assemble cars in America-Sweden's Volvo has already started building a $100 million plant in Chesapeake, Va. Still, the formal decision illustrates how changes in currency values can transform world business patterns...
...year ago, West Germany's Volkswagenwerk AG was fast running out of gas. In 1974 it had lost a staggering $313 million-more than any of the world's business organizations except Britain's government-owned National Coal Board (1974 loss: $316 million). There were widespread fears that world recession would compound the troubles enough to force a government takeover. Today VW is on the road back to prosperity. It will still report a loss-perhaps $100 million to $150 million-for 1975, but almost all of that was suffered in the first half. Managing Director Toni...
...Volkswagenwerk...
...years companies have been buying the loyalty of their work forces by offering bonuses for superior workmanship or exceeding production quotas. Last week Volkswagenwerk AG turned the bonus idea completely around by offering to pay employees at four of its six West German plants up to $3,600 for their immediate resignations. The company has been hit by a serious sales slump, and is trying to trim its workforce in the nicest way possible. Of the 106,000 eligible employees, only the first 2,700 to apply will be able to collect the payments, which include one month...
...charge of this transformation is Rudolf Leiding, 59, a onetime repair-shop manager who became chairman of Volkswagenwerk three years ago. Though 5,500 Beetles had continued rolling off the assembly lines each day until last week's shutdown, Leiding has been gradually shifting some of Volkswagen's eggs out of the Beetle basket. Volkswagen's subsidiary, Audi NSU Auto Union AG, formed in 1969, now offers medium-priced and expensive (up to $5,360) sedans, most notably the Audi 80, called the Fox in the U.S. Sales of these cars are rising faster than anything else...