UPDATE 1-VW Tennessee plant should open in 2011 - plant CEO

Wed May 13, 2009 10:20pm BST
[-] Text [+]

  * VW Tennessee plant to open in 2011
  * No delay in building of the plant expected
 (Adds CEO's comments)
 ATLANTA, May 13 (Reuters) - A projected Volkswagen (VOWG.DE: Quote, Profile, Research)
plant in Chattanooga, Tennessee, should be up and running by
2011 and there are no plans to delay building because of adverse
conditions facing U.S. automakers, the plant's CEO said on
Wednesday.
 "It's the best time to do it now and not to postpone it,"
Frank Fischer, chairman and chief executive of the company's
Chattanooga operation, said in an interview.
 Demand for U.S. cars should pick up by 2010, in time for
the launch of the plant, so any delay in building would mean
that VW was too late to satisfy that projected increase in
demand, Fischer said.
 A planned merger between VW and Porsche (PSHG_p.DE: Quote, Profile, Research) would
not affect building plans, he said, adding: "After everything
has been settled the company as a whole will be stronger than
before."
 Fischer is due to participate on Thursday in a
wall-building ceremony at the plant with other VW executives
including Stefan Jacoby, president and CEO of Volkswagen Group
of America.
 (Writing by Matthew Bigg, editing by Tom Brown and Matthew
Lewis)


 
 
VOWG.DE
Last:
Change:
Up/Down:
 
by Name by Symbol