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Supervisory Board meeting at AUDI AG

Ingolstadt (ots)

* Most extensive capital spending programme in company history
* Dr. Jochem Heizmann appointed new Member of the Board
for Production
AUDI AG's very sound financial strength has provided the basis for
the most extensive programme of investments the company has ever
seen: at its meeting today the Supervisory Board of AUDI AG agreed on
a far-reaching capital spending programme with the focus on new
products. Within the scope of this medium-term investment plan, total
funds of DM 17 billion are earmarked for the Audi Group for the
period 2001 to 2005. This puts capital investments for the five-year
planning period at record level.
The Group's German locations play a particularly important role in
Audi's investment plans. Approximately 85 percent of the DM 17
billion will be invested in Germany. Around 70 percent of the total
capital investments planned will be channelled into the development
of new products.
At today's meeting, the Supervisory Board appointed Dr Jochem
Heizmann (48) as the new Member of the Board for Production at AUDI
AG. In doing so the Supervisory Board has followed the recommendation
put forward by the presiding committee on 4 December. Heizmann will
take up his new position on 1 February 2001. As already reported,
Heizmann is currently Technical Director and Management Spokesman at
Volkswagen Sachsen GmbH and Volkswagen Sachsen Immobilienverwaltungs
GmbH in Mosel.
Speaking on behalf of the entire Supervisory Board, its chairman Dr
Robert Büchelhofer thanked all AUDI AG employees for their hard work
in the current financial year.
Audi is an international developer and manufacturer of high-quality
cars. The company maintains production sites in Germany, Hungary,
Brazil, China and South Africa. In 1999 Audi sold around 635,000 cars
and produced more than 1.2 million engines, bringing in sales
revenues in excess of DM 29.6 billion. The Audi Group has just under
50,000 employees.
Communication Corporate and Finance
Joachim Cordshagen, Tel: +49 (0)8 41/89-3 63 40
e-mail:  joachim.cordshagen@audi.de
Jürgen De Graeve, Tel: +49 (0)8 41/89-3 40 84
e-mail:  juergen.degraeve@audi.de

Original content of: Audi AG, transmitted by news aktuell

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