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MarketScreener Homepage  >  Equities  >  Xetra  >  AUDI AG    NSU   DE0006757008

AUDI AG

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Audi : says plant in Mexico remains open, debt dispute denied by company

10/10/2020 | 04:34pm EST
FILE PHOTO: An Audi Q5 2.0 is seen at the German car manufacturer's plant during a media tour in San Jose Chiapa

MEXICO CITY (Reuters) - A Mexican auto plant belonging to German carmaker Audi remains open and did not close following a dispute over unpaid bills that the firm denies, as was reported by local media, an official with the company told Reuters on Saturday.

The plant is located in the central state of Puebla. Media had reported officials from the local municipality shut the facility on Friday after several hours of failed talks to resolve a dispute over an alleged 90 million pesos ($4.3 million) in outstanding debts on items including local property taxes and water bills.

"There was never any closure," said Christine Kuhlmeyer, a communications official with Audi Mexico.

"We comply on time with our obligations," she added.

Asked about the figures circulating in local media about the allegation of unpaid debts, Kuhlmeyer said she could not comment on any specific amounts, but said plant representatives would be talking with state authorities on Monday.

"There were efforts like what's been reported in the news, but they weren't able to close the plant," she said. Friday night and Saturday morning work shifts were not interrupted, she added.

Audi is the luxury car unit of Europe's biggest carmaker, Volkswagen.

($1 = 21.1370 Mexican pesos)

(Reporting by Sharay Angulo and Dave Graham; Editing by Richard Pullin and Rosalba O'Brien)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG -0.61% 1630 End-of-day quote.103.75%
VOLKSWAGEN AG -1.80% 145.92 Delayed Quote.-15.68%
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Financials
Sales 2019 55 680 M 66 553 M 66 553 M
Net income 2019 3 850 M 4 602 M 4 602 M
Net cash 2019 17 334 M 20 719 M 20 719 M
P/E ratio 2019 8,94x
Yield 2019 -
Capitalization 70 090 M 83 470 M 83 776 M
EV / Sales 2018 0,29x
EV / Sales 2019 0,31x
Nbr of Employees 89 084
Free-Float 0,36%
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Managers
NameTitle
Markus Duesmann Chairman-Management Board
Herbert Diess Chairman-Supervisory Board
Arno Antlitz Chief Financial Officer
Dirk Große-Loheide Head-Procurement & Information Technology
Hans-Michel Piëch Member-Supervisory Board
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