EIB VOLKSWAGEN
June 1st, 2001
BY MONICA DOBIETHE EUROPEAN Investment Bank (EIB) has announced that it is lending US$40 million to Volkswagen Argentina S.A., a subsidiary of Volkswagen AG, to support investment for the production of gearboxes for passenger cars in its plant located in Cordoba, Argentina.The project will create around 1,000 new jobs in the region, modernising the company's automotive parts sector and generating exports to supply other Volkswagen automobile assembly operations, particularly in Brazil. Full production is expected to be achieved by early 2002, said an EIB ...
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