MAN quick to play down rumoured Scania link-up
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MAN HAS MOVED swiftly to dampen German media speculation that it and its sister firm Scania will be brought closer together by their parent Volkswagen.
According to German newspaper Der Spiegel, VW is planning to transfer its stake in MAN to Scan in: the latter would then purchase all the remaining shares in MAN, creating the largest truck manufacturer in Europe. ahead of Mercedes-Benz.
However, MAN has issued the following statement: "It is well known that MAN and Scania are seeking a closer industrial co-operation in order to realise considerable synergy opportunities. Both companies are in discussions in this regard. Both parties are focused on creating value for their shareholders and other stakeholders and are pursuing this with mutually friendly intentions.
"At the same time, both sides are committed to maintaining the operating businesses and the unique brand values of the respective companies. This would he the basis for any possible option pursued by MAN.
"At this early stage of the discussions, the outcome is still open and no decisions have been taken."
Earlier this year, Scania president Leif ostling told CM: "When it comes to MAN, we are looking to [identify] areas of development where we can benefit — that could be in hybrids or battery and combustion technology."
The Swedish firm's latest statement adds: "Scania will not comment on the subject while the discussion is still ongoing. Further announcements will be made when appropriate."