Porsche, VW might merge before 2011: Report
German carmakers Porsche <PSHG_p.DE> and Volkswagen <VOWG.DE> might merge in 2010 already instead of 2011 as currently planned, German newspaper Die Welt reported, citing VW's finance chief.
By Agencies |
FRANKFURT:German carmakers Porsche and Volkswagen mightmerge in 2010 already instead of 2011 as currently planned, German newspaper DieWelt reported, citing VW's finance chief.
In a "very optimisticscenario" and if the economy and financial markets offer particularly favourableconditions, both companies might be able to accelerate the merger, VW FinanceChief Hans Dieter Poetsch told the paper's Monday edition.
Porschewill deliver "very impressive" results for its operating business for the 2009financial year and the combined group might beat its target and become worldmarket leader before 2018, Poetsch said.
The finance chief said themerged entity will seek cost synergies through joint purchase and logistics,closer cooperation in financial services, joint development projects and the useof similar modules in both groups, die Welt reported.
While thesecost synergies will be achieved "swiftly", revenue synergies will take somethree years to achieve, Poetsch said, according to Die Welt.
Volkswagen considers itself and Porsche as "partners", Poetschreiterated.
In a "very optimisticscenario" and if the economy and financial markets offer particularly favourableconditions, both companies might be able to accelerate the merger, VW FinanceChief Hans Dieter Poetsch told the paper's Monday edition.
Porschewill deliver "very impressive" results for its operating business for the 2009financial year and the combined group might beat its target and become worldmarket leader before 2018, Poetsch said.
The finance chief said themerged entity will seek cost synergies through joint purchase and logistics,closer cooperation in financial services, joint development projects and the useof similar modules in both groups, die Welt reported.
While thesecost synergies will be achieved "swiftly", revenue synergies will take somethree years to achieve, Poetsch said, according to Die Welt.
Volkswagen considers itself and Porsche as "partners", Poetschreiterated.
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