German auto giant Volkswagen formally signed the appointment of Automobile Central Enterprise, Inc. (ACEI), a wholly-owned subsidiary of Ayala Corporation, as its Philippine distributor.
In a simple ceremony held at Ritz Carlton Hotel, Hongkong on 27 May 2013, Weiming Soh, President for Commercial Operations in Greater China/ASEAN affixed his signature on the Importeur Agreement with Fernando Zobel de Ayala, President and Chief Operating Officer of Ayala Corporation, and John Philip S. Orbeta, Chairman and President of Ayala Automotive Holdings Corporation (Ayala Auto) and Managing Director of Ayala Corporation.
