[Western SMT]

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.