Wednesday, September 12, 2007
Union unrest over Porsche plans for VW
Porsche used the Frankfurt motor show to drop broad hints that it was likely to increase its stake in Volkswagen form 31 per cent to majority control.
In press reports, its chief finance officer, Holgar Harter indicated this would make business sense for the company, particularly with jointly developed products like the VW Toureg and Porsche Cayenne 4x4s.
However, German unions warned the move could lead to massive industrial unrest if wages and conditions were changed under the emergence of a Porsche-dominated VW.German trade unions have representatives on the board of VW, and it is understood that some members are concerned about the shape of any Porsche-owned VW board.
DATED: 12.09.07
FEED: MT
