Scania boss skeptical about any MAN SE tie-up
(chinatrucks.com, Dec.28, 2009)The chief executive of Scania (SCVb.ST) is skeptical about any merger with its German truck rival MAN SE (MANG.DE), according to an interview with a German newspaper.
"It is currently unrealistic to achieve synergies of 1 billion euros ($1.4 billion) or even 500 million euros in a merger between MAN and Scania," Leif Oestling told the Sunday edition of Welt am Sonntag in comments released a day earlier.
The newspaper said he was interviewed in November before MAN reorganized its top management.
MAN named a new chief executive and other board members on December 11 barely three weeks after three of its top executives, including CEO Hakan Samuelsson, left the company.
The executives' departure has fueled speculation that Volkswagen (VOWG.DE) would make a bid for the German truckmaker.
Volkswagen Chairman Ferdinand Piech, who is also chairman of MAN, has hinted this year that MAN is on his radar screen as he tries to revive plans for a three-way truck alliance with Swedish unit Scania (SCVb.ST).
VW holds around 70 percent voting rights in Scania and 29.9 percent in MAN, which in turn owns a 17 percent stake in its Swedish rival. Oestling told Welt am Sonntag any merger with MAN would make little sense from an industrial point of view and that it could damage the MAN and Scania brands.
Commenting on the overall truck sector, he said: "I expect that we have already reached the bottom" but that "new record levels in the truck market would only be reached between 2015 and 2020."
Views:0
- Scania Year-end Report January-December 2021 2022-03-21
- Scania to Start Making Trucks in China After Acquiring Nantong Gaokai 2020-11-25
- Scania’s Production Worldwide Completes Fossil-free Transition 2020-09-01
- Scania to Deliver 75 Battery Electric Trucks to ASKO in Norway 2020-05-27
- FULONGMA, Scania Launch 3rd-generation Compression Garbage Truck in Hong Kong 2020-04-10
- Scania Year-end Report January-December 2019 2020-03-25
- Scania Suspends Truck Production in Europe Over COVID-19 2020-03-20
- Scania Dedicated to Help Chinese Users Succeed in a Challenging Market 2020-01-15
- Scania Delivers Its 7000th Trucks in Hongkong 2019-11-22
- Scania Jining Repair Factory Starts Operation 2019-09-12
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