| "Volkswagen interested in Zastava" |
| 26 March 2008 | 15:40
| Source:
FoNet |
FRANKFURT --
German financial daily Handelsblatt writes that Volkswagen is interested in the privatization of Zastava Motors.
The daily says that a definite decision has not yet been made, however.
Handelsblatt states that Volkswagen officials want to look into the matter further before taking a decision.
The daily writes that part of Zastava’s production equipment is very old, and that large investment would be needed, adding that officials at Europe’s largest automotive company visited Kragujevac over the Easter holidays.
VW is already present on the Serbian market with Volkswagen, Skoda, Audi and SEAT, with annual sales of about 52,000 vehicles, which approximately represents a 15 percent share of the market, Handelsblatt stated, adding that older generation Punto and Astra cars were already being manufactured at the Zastava factory.
However, General Motors, which owns Opel, does not have any interest in Zastava, according to its European headquarters.
Handelsblatt stated that Fiat, Ford, Tata and Chinese FAW were all interested in purchasing the company.
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