09-29-2005, 12:25 PM
VW pourrait entrer dans le capital de Proton
<!--QuoteBegin--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE </td></tr><tr><td id='QUOTE'><!--QuoteEBegin--> Proton says VW interested in stake
Reuters / September 28, 2005
SHAH ALAM, Malaysia -- Volkswagen AG has expressed interest in taking an equity stake in Malaysia's biggest carmaker, Proton Holdings Bhd, state-controlled Proton said on Wednesday.
Volkswagen and Proton are hammering out a joint venture to make cars for Southeast Asia's free-trade zone from Proton's new, state-of-the-art production line, which has an annual design capacity of 1 million cars.
The partnership has triggered speculation Volkswagen wants to seal the arrangement with an equity investment in Proton, now 62 percent-owned by Malaysian state investment agencies, and exert some management control.
"The proposals go back and forth. They have expressed interest to take up equity," Proton Chairman Azlan Hashim told the annual meeting in Shah Alam, home to Proton's older production line.
"We're open to equity. But it will all depend at the end of the day on the structure. This is the key," he told reporters.
Speculation about a Volkswagen investment propelled Proton shares to a 16-month high in July, but the stock then faltered after the German firm dismissed talk of an imminent equity deal and Proton issued disappointing first-quarter results.
"We continue to hold talks with Proton on the form of our strategic partnership agreed upon at the end of last year," a spokesman for VW said in Germany, adding that various options were being examined.
He declined to provide further details while negotiations were continuing.
"Negotiations are ongoing," said Azlan, referring to the joint-venture talks with Volkswagen. "Their intention is very extensive," he added, saying the partnership would cover everything from development to manufacturing.
Proton needs to tie up with a major manufacturer to give it the production volume and management guidance needed to succeed in a fiercely competitive and over-supplied global market, industry experts say.
Proton has traditionally been heavily protected in its home market but competition is arriving as Malaysia signs up to regional and bilateral free-trade pacts. Its domestic market share has dwindled to around 40 percent from two-thirds.
In response, Proton is trying to boost exports but is handicapped by its relatively small production run and, some analysts say, a government policy that is reluctant to surrender management control.
In the year to March, Proton sold about 183,000 cars in Malaysia, up 20 percent on the year, and exported another 17,000 units, from an annual production capacity of 380,000 cars.<!--QuoteEnd--></td></tr></table><div class='postcolor'><!--QuoteEEnd-->
<!--QuoteBegin--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE </td></tr><tr><td id='QUOTE'><!--QuoteEBegin--> Proton says VW interested in stake
Reuters / September 28, 2005
SHAH ALAM, Malaysia -- Volkswagen AG has expressed interest in taking an equity stake in Malaysia's biggest carmaker, Proton Holdings Bhd, state-controlled Proton said on Wednesday.
Volkswagen and Proton are hammering out a joint venture to make cars for Southeast Asia's free-trade zone from Proton's new, state-of-the-art production line, which has an annual design capacity of 1 million cars.
The partnership has triggered speculation Volkswagen wants to seal the arrangement with an equity investment in Proton, now 62 percent-owned by Malaysian state investment agencies, and exert some management control.
"The proposals go back and forth. They have expressed interest to take up equity," Proton Chairman Azlan Hashim told the annual meeting in Shah Alam, home to Proton's older production line.
"We're open to equity. But it will all depend at the end of the day on the structure. This is the key," he told reporters.
Speculation about a Volkswagen investment propelled Proton shares to a 16-month high in July, but the stock then faltered after the German firm dismissed talk of an imminent equity deal and Proton issued disappointing first-quarter results.
"We continue to hold talks with Proton on the form of our strategic partnership agreed upon at the end of last year," a spokesman for VW said in Germany, adding that various options were being examined.
He declined to provide further details while negotiations were continuing.
"Negotiations are ongoing," said Azlan, referring to the joint-venture talks with Volkswagen. "Their intention is very extensive," he added, saying the partnership would cover everything from development to manufacturing.
Proton needs to tie up with a major manufacturer to give it the production volume and management guidance needed to succeed in a fiercely competitive and over-supplied global market, industry experts say.
Proton has traditionally been heavily protected in its home market but competition is arriving as Malaysia signs up to regional and bilateral free-trade pacts. Its domestic market share has dwindled to around 40 percent from two-thirds.
In response, Proton is trying to boost exports but is handicapped by its relatively small production run and, some analysts say, a government policy that is reluctant to surrender management control.
In the year to March, Proton sold about 183,000 cars in Malaysia, up 20 percent on the year, and exported another 17,000 units, from an annual production capacity of 380,000 cars.<!--QuoteEnd--></td></tr></table><div class='postcolor'><!--QuoteEEnd-->
Aussi vite que possible, aussi lentement que nécessaire...
