SAO PAULO – After a severe crisis that forced Volkswagen do Brasil Ltda. to cut its payroll drastically, the auto maker is expecting to report net profits this year, marking the first time since 1997 the Brazilian unit has been in the black. “In 2004, we recorded operating profits and profits before taxes, but we did not manage to offset losses,” says Hans-Christian Maergner, president of VW operations in Brazil since 2004. Maergner, who will retire next year after 42 years with the auto ...
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