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TRUCKMAKERS' NEWS * WORLDWIDE
* Germany - MAN Not Considering Scania Bid
Germany -Bloomberg/TrencoIrisnet -Jan. 12, 2009: -- MAN AG, Europe's third-largest truckmaker, has no plans to bid for Swedish rival Scania AB as it focuses on expanding in emerging markets including China, Chief Executive Officer Hakan Samuelsson said... MAN owns 11.3 percent of Scania's shares, according to data compiled by Bloomberg, and said on Dec. 29 it bought options allowing it to increase its voting rights in the company to 20 percent from 17 percent. MAN is 30 percent owned by German automaker Volkswagen AG, which in turn has a further 69 percent of Scania's voting rights... MAN has started operations in India and Brazil and is considering expanding into China after the worldwide recession halted a boom in heavy-truck sales fueled by growth in eastern Europe, Samuelsson said in an interview in Abu Dhabi today. Munich-based MAN agreed Dec. 15 to acquire Brazil's largest truckmaker from Volkswagen, its first major investment in South America...
Labels: truckmakers' news worldwide
posted by Unknown @ 11:08 AM
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