Brazil state bank halts $232 mln Volkswagen loan

Newswire

BRASILIA, Brazil, Aug 29 (Reuters) - Brazil's state development bank said late on Monday it will halt a loan worth 497 million reais ($232.1 million) to automaker Volkswagen AG until the company concludes negotiations with local unions over layoffs, wages and a possible plant closure. The decision followed a threat by Germany's Volkswagen to shut down its oldest plant in Brazil, in Sao Bernardo do Campo, where President Luiz Inacio Lula da Silva started his career as a metalworkers union ...

Premium Content (PAID Subscription Required)

"Brazil state bank halts $232 mln Volkswagen loan" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Amber McLincha by email: amclincha@wardsauto.com or phone: (248) 799-2622
 

Current subscribers, please login or CLICK for support information.

Already registered? here.

Sponsored Introduction Continue on to (or wait seconds) ×