Green light for D-B Ford truck buyout
19th June 1997, Page 19
19th June 1997
Page 19
Page 19, 19th June 1997
— Green light for D-B Ford truck buyout
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Keywords :
Trucking Industry In The United States, Daimler Ag, Car Manufacturers, Freightliner Trucks, Ford Motor Company, Freightliner, Ford Cargo, Truck, Freightliner Group Limited, Mercedes-benz Sprinter, Sterling Trucks, Business / Finance
• US and Canadian authorities have approved Freightliner's purchase of Ford's US heavy truck business. The Daimler-Benz subsidiary signed the contract with Ford in May. It covers the HI\180, Ford Cargo (the original, UKdeveloped model), Ford's parts business and all remaining tooling from the HN80's L-Series predecessor.
The deal, thought to be worth up to $300m, gives Freightliner 40% of the US heavy truck market. Dr Kurt Lauk, responsible for Daimler-Benz commercial vehicles, says: "By doubling the size of our dealer network in the USA we can reach a lot more customers. And with the range of products we will have on offer, market opportunities are also opening up outside the USA."
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Kurt Lauk