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CORPORATE BRIEFS

VW predicts capital investments at 230 million DEM in '99

In 1999, the total capital investments of Volkswagen Slovakia will amount to $230 million, said VW Slovakia Commercial Director Jozef Úhrik on November 5. The plant currently produces 300 units of its Polo model per day, as well as components for other VW cars exported to other VW companies. The firm's expected total 1999 output is 60 billion Slovak crowns.

Úhrik responded to recent reports concerning a moderate decrease in production at the Bratislava plant. He explained that the decrease was linked to VW Slovakia's introduction of new production lines for the assembly of the Polo cars.

VW Slovakia rolled out 125,181 automobiles and assembled 328,558 gearboxes and 8,183,464 car components in 1998. VW concern bosses are now looking to double the 1998 output at their Bratislava plant by the year 2000. Six months into 1999, Volkswagen reported a net trade surplus of 7 billion Slovak crowns, compared to a 1998 full year total of 9.3 billion Slovak crowns.

VW Bratislava currently employs 5,500 people. The VW concern has 14 direct suppliers from Slovakia. In 1998, VW Slovakia produced 125,000 cars and its turnover represented some 58 billion crowns.

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