Daimler Trucks in no hurry to raise Kamaz stake
(chinatrucks.com, Dec.1, 2009)Daimler's (DAIGn.DE) industry leading trucks business is not in a rush to exercise an option to raise its 10 percent stake in Russia's Kamaz (KMAZ.MM) to a 25 percent and one share blocking minority.
"This could happen in two months or two years," Daimler Trucks chief Andreas Renschler said on Thursday in Stuttgart.
"We are in no hurry."
More important than the size of the stake is the access to the Russian market via the Kamaz dealer network that Daimler's Mercedes-Benz and Fuso brands get through their planned joint ventures with the Russian truckmaker.
Speculation has repeatedly surfaced that Daimler would expand its stake after it first scaled back plans to buy an interest in Kamaz.
In the second quarter of 2008, Daimler had started negotiations with the investment company Troika Dialog, which wanted to sell 42 percent of the shares in Kamaz. Daimler was then picked following a bidding process with other western truckmakers.
At the time, Russia was already Europe's largest truck market and sales of new trucks were expected to increase by about 20 percent over the next two years.
Views:0
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021 2022-03-25
- Daimler Truck Sales See 20% Increase in 2021 2022-01-24
- Volvo, Daimler And Traton Agree On JV Charging Network for Europe 2021-12-27
- Three ConMet Plants Receive 2020 Masters of Quality Supplier Award from DTNA 2021-11-17
- Daimler Truck AG and Cummins Inc.Announce Global Plan for Medium-duty CV Engines 2021-02-24
- Daimler Plans Separation into Two Pure-play Companies 2021-02-04
- Daimler to Revamp China Plant to Make Mercedes-Benz-branded Actros Truck 2020-11-18
- Daimler and Volvo Sign Binding Agreement to Form a Fuel-cell Joint Venture 2020-11-03
- Mercedes-Benz Access to New Target markets with Actros F and Edition 2 2020-09-29
- Daimler Unveils GenH2 Hydrogen Fuel-cell Concept Truck 2020-09-23
Submit Your Requirements, We Are Always At Your Service.
- BYD Stopped the Production of Fuel Vehicles
- Geely Began Test Runs of Green E-methanol Vehicles in Danmark
- 2022 SANY Global Dealer Summit Was Held Successfully Online
- BYD and Shell Partner on EV Charging across China and Europe
- Daimler Truck Significantly Increase Sales, Revenue and Net Profit in 2021
- Scania Year-end Report January-December 2021
- Hyundai Motor and Iveco Group Sign MOU to Explore Future Collaboration
- GAUSSIN Enters China, the Largest Truck Market in the World
- Over 1,200 Hydrogen-powered Vehicles Deployed for the Beijing Winter Olympics
- Chinese New Year Holiday Closure Notice
- China's Truck Exports Grew by 30% YOY to 63490 Units in January-February
- China's New Energy Heavy Trucks Grew Despite an Overall Slump
- Heavy-duty Truck sales in China Fell by 54% to 54,000 units in February
- SINOTRUK Achieves Sales of 27,725 Vehicles in January, 2022
- China’s Domestic Tractor Sales Exceed 40,000 Units in January
- 2021 JAC International Pickup Export Performance
- JAC Achieved a Great Result in 2021
- China's Truck Export in 2021 Reached a 10-year Peak
- Heavy-duty Truck Sales in China Fall 57 Percent on Year in January
- China Recorded Sales of 645000 Tractors in 2021
