MAN SE does not expect any antitrust issues with VW

Article by Christian A., 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.

If you liked the article, share on:

Topics: man, vw

Comments

Recommended

We’re willing to bet that the Bentley Bentayga is not the first thing that comes to mind for most people who are into off-roading and outdoor activities. It just doesn’t...
by - November 23, 2017
The other day, it was confirmed that Volvo will finally bring the XC40 to US soil, where it will first make an appearance at the 2017 Los Angeles Auto Show....
by - November 23, 2017
There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries