Group30_Audi - Factiva 1 of 2...

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Factiva .. 1 of 2 10/29/10 3:20 PM
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2nd UPDATE: Audi To Invest EUR900 Mln In Hungary Plant 378 words 23 September 2010 11:22 Dow Jones International News DJI English (Adds quotes, detail.) By Veronika Gulyas Of DOW JONES NEWSWIRES BUDAPEST (Dow Jones)--German carmaker Audi AG (NSU.XE) said Thursday it plans to expand its Hungarian plant in Gyor at a cost of EUR900 million, a move that the country's prime minister has welcomed. "The Audi investment is very important for the Hungarian economy. [It] will drive Hungary's gross domestic product by two percentage points from 2013 onward," said Prime Minister Viktor Orban. Hungary's GDP is expected to increase less than 1% this year and between 2.5% and 3% in 2011, according to the government's forecast. Audi, a subsidiary of Volkswagen AG (VOW.XE), decided to expand the Hungarian facility due to the infrastructure, employers' competence and the favorable wage structure, Audi Board Chairman Rupert Stadler said. As a result of the
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This note was uploaded on 01/11/2012 for the course EIN 4354 taught by Professor Tufecki during the Fall '08 term at University of Florida.

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Group30_Audi - Factiva 1 of 2...

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