Scania customers in the UK have welcomed Volkswagen's purchase of the controlling interests in the truckmaker. Upon being told the news by MT, one Scania customer said: "It's much better for us than if it had gone to Volvo or MAN. VW's a successsful company Scania will be left to be Scania."
VW bought the controlling shares held by the Wallenberg Foundations and Investor for a total of £2.2bn. Scania will remain a separately listed company and its management team will remain in place.
Scania president and CEO Leif Ostling says: "VW has been a leading shareholder in Scania since 2000.
"We see it as a logical step that VW is now becoming the majority shareholder, underlining its long-term commitment to Scania." Inevitably, media and industry speculation has turned to MAN and the possibility of a three-way merger with VW-Scania. A VW spokesman sidestepped the question, stating: "We want to grow our truck business worldwide."
A Scania spokesman notes that the company is happy to co-operate on technological developments, adding: "Our board didn't like the way MAN approached us [about the aborted takeover]. [Any merger] would have to be win-win for every party." An MAN spokesman adds: "Of course, VW is a shareholder in MAN with about 30% [of the shares]. We're open to co-operating." MAN has no plans to change its 13.5% capital share in Scania.
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