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March 21, 2003

GERMANY: VW and Siemens agree diesel deal – report

Siemens said on Thursday it had reached a joint venture agreement with Volkswagen to produce diesel injection systems, the Reuters news agency reported.

By bcusack

Siemens said on Thursday it had reached a joint venture agreement with Volkswagen to produce diesel injection systems, the Reuters news agency reported.

According to Reuters, Siemens said the venture, with a planned investment volume of around $US286.6 million, is expected to see a production launch in the fourth quarter of 2004.

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