Volkswagen takes new legal status

A change in the legal status of Volkswagen Bratislava s.r.o. to a joint stock company is connected to the planned future increase of the company, said one of VW Bratislava's two leading representatives, technical manager Karl Wilhelm. The final decision must be approved by the supervisory board of the concern, which will meet at the end of November. The board must also ratify a production increase at the Bratislava company from 300 to 1,000 vehicles per day. The General Manager of Volkswagen Bratislava, Jozef Uhrík, said that the decision to transform the company into a joint stock company had been "induced by the situation around the prepared development of our company." The registered capital of the new company is still to be decided. The registered capital of the present company in Bratislava is almost two billion Sk ($54.9 million).