Volkswagen takes 49.9 percent stake in Porsche AG

Further milestone reached on the way towards the integrated automotive group with Porsche.

Wolfsburg, December 7, 2009 – Volkswagen Aktiengesellschaft has today taken a 49.9 percent stake in Porsche AG. The next important step on the way towards the integrated automotive group with Porsche has therefore been completed, as announced, before the end of the year. The price for the stake is €3.9 billion and is based on the enterprise value for Porsche AG calculated under a careful due diligence and valuation procedure.

Following the Comprehensive Agreement concluded in August, the implementation agreements signed in November and the Volkswagen Extraordinary General Meeting held last week, the stake in Porsche AG represents the next milestone on the way towards the integrated automotive group with Porsche under the leadership of Volkswagen. The acquisition of the trading business of Porsche Holding Salzburg is planned for 2011. The creation of the integrated automotive group is then to conclude with the merger of Volkswagen AG and Porsche SE during the course of the same year.

The combination of the two companies follows a compelling strategic, industrial and financial logic. For the Volkswagen Group, Porsche ideally complements the brand portfolio. The Stuttgart-based car maker will allow Volkswagen to further expand its position in the premium business, which offers particularly strong earnings. In turn, as an independent brand under the roof of the Volkswagen Group, Porsche will have the potential for significant additional growth.

The transaction will have a sustained positive effect on the earnings situation of the Volkswagen Group. With a return on sales of 10.3 percent, Porsche AG is the world’s most profitable automobile manufacturer. Volkswagen will in future participate in this business success through its stake. In addition, the planned integration of Porsche in the Volkswagen Group and the associated closer cooperation will realize significant synergies on both the income and the cost side. As a result, the annual operating profit of the Volkswagen Group is expected to increase by some €700 million in the long term.

Enjoy Golf R rivalling performance thanks to Superchip’s

Long established vehicle remapping specialist Superchips Ltd is pleased to unveil a new, warrantied performance ECU upgrade for the MkVI Golf GTi featuring the 2.0-litre, 16-valve, turbocharged TSI powerplant. Thorough analysis of the engine management parameters by Superchip’s in-house technicians pinpointed a number of performance compromises within the Golf GTi’s MED17 ECU. This enabled the Buckingham based electronics experts to create a new, optimised calibration for the GTi’s engine management system, which was validated using the firm’s in house chassis dynomometer and extensive road testing.

The result of Superchip’s work is an ECU map that improves the Golf’s response and provides a sharper, more rewarding and enjoyable drive. In outright terms, Superchip’s work increases the MkVI Golf GTI’s power by 25bhp at peak, while torque jumps 47lb.ft. However larger performance gains are realized throughout the rev range, with the Superchip’s Bluefin upgrade picking up 44bhp at 4737rpm and 53lb.ft @ 4450rpm, greatly improving the flexibility and response of the converted Golf GTi MKVI.

Volkswagen quotes 210PS (208bhp) and 206lb.ft for the standard MkVI Golf GTi (although dyno runs have proven that this is a conservative claim,) meaning that in practice a Superchip’s upgraded car will boast no less than 233bhp and 253lb.ft. For comparison, the new £28,930 Golf R boasts 267bhp and 258lb.ft, meaning the Superchip’s MKVI Golf GTi comes close to matching the ‘R’ in terms of torque output. Crucially the MKVI Golf GTi weighs in at 1271kilos, whereas the Golf R is reported to weigh 1475 kilos, equating to a power to weight ratio of 183bhp per ton for the Superchip’s upgraded car, versus 181bhp per ton for the ‘R.’ On the road this will enable the £23,015 MkVI Golf GTi to worry the four wheel drive Golf R for a mere £435.00 including VAT and what’s more, Superchip’s Volkswagen Bluefin remap is designed to deliver this performance using regular 95 octane petrol.

The new Superchips Golf MK VI GTi ECU remap is available in two formats for customers. Firstly, they have the option of visiting one of approximately 100 Superchips dealerships in the UK who will install the upgrade. Secondly, they can purchase the product and self upload it in minutes using the innovative, market leading Bluefin handset. No technical skills are required as customers simply plug in the Bluefin handset to the Golf GTi’s ECU OBDII diagnostics port, follow the on screen instructions and in a few minutes the Superchips program upload is complete.

As part of this process the original factory Golf GTi ECU map is stored on the Bluefin handset for future use and converting the car back to standard is a swift and simple ‘plug ‘n’ go’ task. Superchip’s customers can also be assured that the conversion is covered by a full Customer Service Guarantee and an industry leading warranty. Suitable for both manual and DSG gearbox equipped variants of the MKVI Golf GTi, the Bluefin ECU remap is available now directly from Superchips and its UK dealer network, priced at £435.00 including VAT.