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VOLKSWAGEN OF NIGERIA LTD (VWON)



VOLKSWAGEN OF NIGERIA LTD (VWON) KM 17 Badagry Highway,  Volkswagen Estate, Ojo Lagos State. BACKGROUND AND CORPORATE STATUS Volkswagen of Nigeria (VWON) was incorporated on 4th April 1973 as a Private Limited Liability Company on the basis of an investment agreement negotiated between the Federal Government of Nigeria (FGN) and Volkswagen AG of Germany. In line with the terms of agreement, the company was established primarily to assemble and market Volkswagen passenger and light commercial vehicles in Nigeria. The company began production on March 21ST 1975 with an output of 60 cars a day of mostly the Volkswagen beetle models. Production output expanded in 1985 to 20,829 representing 53.4% of capacity utilization. The installed capacity of the plant is 39,000 units of vehicles per annum. New models like Igala, Audi, Golf, Passat, Kombi and Danfo Commercial buses as well as ambulances were produced. LEGAL STATUS VWON was incorporated as a limited liability Company on 4th 1973 with RC No 11,301. The company was established pursuant to an investment agreement negotiated in Sept 1972 between Federal Government of Nigeria (FGN)  and Volkswagen AG of Germany. On Jan 8th 2001, the technical partner Volkswagen AG of Germany terminated the various agreements with VWON. The consequence of the agreement is the repudiation of the right to use the word "Volkswagen" in its company name as well as to use the trademark. DESCRIPTION OF VWON PRODUCTS The company was established primarily to assemble and market Volkswagen passenger and light commercial vehicles in Nigeria. Production started with Beetle models but as facilities expanded other models were added namely, Igala, Audi, Golf, Santana and Jetta. The commercial vehicles produced are Kombi bus and Danfo delivery van and ambulance. The company began production on March 21st 1975 with an output of 60 cars a day of mostly the Volkswagen beetle models. Production o ...
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