Purchasing shares since 2000, Volkswagen controls 89.2 percent of Sweden’s Scania shares and 62.6 percent of its capital. This is according to a Bloomberg report. Volkswagen also has controlling interest or owns three other truck makers including MAN Trucks.
The €6.7-Billion buyout proposed by Volkswagen of Scania AB has met the most resistance from the Swedes. They are concerned that Volkswagen will remove the unique qualities the Swedish truck-maker imbues in each vehicle. Scania AB has a worldwide presence and produces several mechanical goods:
“Scania AB develops, produces, and market large trucks, buses, and coaches. The Company has manufacturing facilities in Europe and Latin America. Scania operates a network of workshops and part distribution centers in many countries throughout the world. The Company also makes industrial and marine engines for boats, electrical generators, earthmoving machines, and harvesters.” – – Bloomberg
Shares of Scania AB (SCVB) have risen since the announcement.
Many sources say that the buyout of Scania AB will most likely happen, despite the resistance. Ownership of Scania AB (along with their other truck-maker conquests) will make Volkswagen one of the most influential truck-makers on the planet. That’s exactly where Volkswagen wants to be.
Speaking of European trucks: check out this video of the Ram ProMaster – a vehicle we are about to review in Colorado!
Thanks to Bloomberg and Autoblog for the lead.
