VW South Africa gets $640 mln a year export deal

Newswire

By Lucia Mutikani JOHANNESBURG, June 30 (Reuters) - Volkswagen South Africa (VWSA) has been given a vehicle export deal by its German parent Volkswagen AG which could bring it 4.0 billion rand ($638 million) in annual revenues, the company said on Wednesday. This is the latest in a series of export contracts awarded by foreign auto makers to South African subsidiaries to benefit from the government's motor industry development programme (MIDP). The MIDP, introduced in 1995 and since ...

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