Man AG - VW Truck & Bus
MAN AG is to acquire VW Truck & Bus, which is based in Resende (Brazil), from Volkswagen AG. The company with an enterprise value of €1,175 million is set to be transferred on January 1, 2009. The executive bodies of MAN and VW have already granted their approval. Volkswagen Truck & Bus has been producing trucks and buses in Resende since 1996. The company is Brazil’s largest truck manufacturer and leads the market for trucks with a gross vehicle weight of more than five tons. The vehicles are primarily sold in Latin America and South Africa. Around 47,000 trucks and buses were supplied in 2007. The company has a comprehensive sales and service network in Brazil and neighboring countries. Around 5,000 employees work at the Resende plant, one of the most modern truck production facilities.
|
The question is, what do they produce today, and what will they be producing in future?
Quote:
Quote:
|
You have been busy G-CPTN
Following the purchase, MAN will continue to conduct this business under the Volkswagen brand name and will cooperate closely with the management and employees in Brazil. The company’s registered office and jobs will not be affected. "This decision is a further logical step for us in the truck business and at the same time brings our Brazilian commercial vehicle activities an attractive perspective in an alliance with a leading truck maker. It is obvious that VW CO and MAN complement each others activities very well and have significant synergy potential. We are convinced that VW CO customers and employees will benefit from this step," Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen AG, commented. |
|
All times are GMT +1. The time now is 09:02. |
Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.