Renault bolsters Mack
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• Mack trucks, which suffered heavy losses in the second half of 1989, has been given a cash injection by Renault Vehicles lndustriel to stave off bankruptcy.
RVI has sent a team of executives from Paris to the US to discuss ways of cutting Mack's losses with greater cooperation between the two manufacturers. "There are ways we can help, other than just providing money," says Renault. We are looking at ways of making Mack more efficient. This may involve more co-operation in developing components."
The French manufacturer holds a 45.6% stake in Mack, and it has given the ailing corn pany six months to a year to improve its financial situation. "We are not saying it has to produce big profits within six months, but the losses must be stopped," says RVI. "It is very important to us to see that Mack remains competitive, and we are doing what is necessary to see that it does."
Mack has a 12% market share in the United States — the biggest single truck market in the world.