Porsche has record year
PARIS - Porsche AG achieved record sales and production in the financial year ending 31 July.
The production of 38,000 cars included 8,000 Boxsters assembled by Valmet in Finland. Sales rose 13 percent to 36,600 units, including 18,800 Boxsters and 17,800 911s,
'Revenues will reach DM4.9 billion ($2.9 billion), after DM4.1 billion during the previous year,' said Chairman Wendelin Wiedeking at a press conference in Paris.
Net profit was not declared, but it might reach DM180 million to DM200 million, after DM139 million in 1996-97.
Ford cuts back at Dagenham
LONDON - Ford will cut two shifts a week at its Dagenham, UK, plant because of falling export demand. About 4,400 workers on the Thursday night and Friday day shifts will instead receive supplementary training and do other jobs around the factory. After seven weeks Ford will decide whether to reinstate the production shifts. Dagenham builds the Ford Fiesta, Ford Courier van and Mazda 121.
Fiat lays off 6,000
TURIN - Fiat Auto will temporarily lay off 6,000 workers at its Italian plants in October, cutting output by 8,000 units. Sales in Italy are expected to fall sharply in September. Scrapping incentives ended on 31 July.
The Termini Imerese Punto plant will lay off 2,500 workers for two weeks.
Rivalta, which makes the Lancia Delta, Dedra and Kappa, will lay off nearly 1,000 for two weeks. Workers at two engine plants will also be idle.
Nissan UK supplies CKDs
LONDON - Nissan has started shipping Primera parts from its Sunderland, UK, plant for kit assembly in South Africa. This is the first time a Nissan plant outside Japan has supplied a kit plant in another country.
James B. Treece
Second Kia sale canceled
SEOUL - The second international auction for bankrupt Kia Motors and sister firm Asia Motors has been cancelled, said Kia spokesman Kim Sam-sung last week. 'All bidders asked for additional write-offs of debts. The tender was aborted because of the additional demand.' Kia creditors are considering what to do.
Reuters News Service