Volkswagen steps up pace of purchasing from China


FRANKFURT, March 31 (Reuters) - Volkswagen aims to speed the pace of purchasing from Chinese suppliers as it slashes costs to sharpen its competitiveness, Europe's biggest carmaker said on Friday. "The goal is to sign by the end of 2006 contracts worth $1 billion of exports to the group," a spokeswoman said. Last June, group purchasing chief Francisco Javier Garcia Sanz told reporters VW's target was to have $1 billion in annual supplier contracts from China within three years versus ...

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