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
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