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MAN to invade
27th October 1978, Page 6
27th October 1978
Page 6
Page 6, 27th October 1978
— MAN to invade
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MAN has taken the first step towards a toehold in the American market with the news that it has bought a 12,6 per cent stake in the White Motor Corporation.
The announcement was made in New York on Friday and it is a move similar to one that was to have been made by Daimler-Benz in 1975 when the White Corp needed money.
Under the terms of the agreement, MAN gains access to the US market for its vehicles and has the chance to build White vehicles using some MAN components.
MAN will buy 1.2 unissued shares for $15.6m and it is thought that this could pave the way for assembly of MAN vehicles in America.
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