MAN SE does not expect any antitrust issues with VW

Article by Christian Andrei, on July 13, 2011

MAN SE, a German manufacturer of trucks, is confident that there will be no antitrust issues arising from its acquisition by Volkswagen AG, the company’s Chief Executive Officer Georg Pachta-Reyhofen mentioned on Monday in Berlin.

Even with the leading indicators pointing to a global economic activity slowdown, Pachta-Reyhofen stated that MAN still was enjoying a continued boom. The CEO also mentioned that the “upswing is continuing undiminished," with new orders to remain excellent just as before.

Volkswagen disclosed last week that it had secured a 55.9 percent majority ownership in MAN, which is its second major industry holding after Swedish truckmaker Scania AB. The share is bigger than the 40 percent that VW originally sought when it bid in May.

The largest automaker in Europe triggered a mandatory bid for MAN by increasing its share on May 9 from 29.9 percent to 30.5 percent in order to prepare for closer cooperation between the German truckmaker and its Swedish rival Scania.

This endeavor is part of the VW chairman Ferdinand Piech's intention to produce Europe's largest truck maker by merging MAN and Scania in order to outperform the world’s two biggest players in the industry, Daimler AG and Volvo AB.

Volkswagen estimates that a three-way truck alliance can save around 1 billion euros ($1.45 billion) in yearly costs including purchasing and development outlays.

Topics: man, vw

If you liked the article, share on:


Login or Create new account to add a comment!


Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016
Honda has unveiled the fifth generation of its hot-selling SUV – the 2017 Honda CR-V. The latest iteration of the CR-V should help it maintain its benchmark status in the...
by - October 21, 2016
Many are already expecting BMW to launch an ultra luxurious SUV that will serve at its new flagship by late 2018. Larger than the X5 and X6, the new X7...
by - October 21, 2016
Most of you may have heard or already have one of those autonomous home appliances doing the house chores. Thus, it’s not anymore unusual to see a car going places...
by - October 20, 2016