Group29_VWMexico - Factiva...

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UPDATE: Volkswagen To Build New Engine Plant In Mexico 394 words 22 September 2010 16:07 Dow Jones Business News DJON English (Updates with information from Mexican president on job creation from the plant, other details.) DOW JONES NEWSWIRES FRANKFURT -(Dow Jones)- German auto maker Volkswagen AG (VOW.XE, VLKAY) Wednesday confirmed it will build a new engine plant in central Mexico with an investment of EUR400 million to supply its car-production plants in North America starting in 2013. "North America is and remains one of the largest and most important car markets," Jochem Heizmann, a member of the Volkswagen board for group production, said in a statement. Europe's largest auto maker by sales, Volkswagen is building a new production plant in Chattanooga, Tenn., and executives previously indicated the company plans to build a new engine plant in Mexico as part of a wider effort to turn around its North American operations and increase local production to reduce the exposure to currency
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