Big Wig to Big Rig: Pischetsrieder to oversee truck merger
The earliest reports on the "resignation" of Volkswagen group CEO Bernd Pischetsrieder indicated that while he'd be replaced as chief executive, he would be retained to take on "special assignments". What such ambiguous duties might entail was a mystery, but it's looking like he may be put in charge of managing a merger between two major European truck companies.
MAN has been maneuvering to buy out Scania with offers over $13 billion, but the Swedish company has been fighting to maintain its independence from the Germans (sound familiar?). Volkswagen AG happens to be the largest shareholder of both companies.
At the moment, Volkswagen is neither confirming nor denying the reports of Pischetsrieder's potential re-assignment. The supervisory board is due to meet on November 17, when they'll make their decision, so we'll just have to sit tight until then.
[Source: Automotive News – sub. req.]
Reader Comments (Page 1 of 1)
Barney 12:51AM (11/14/2006)
Volvo wanted to buy Scania when they sold their car division to Ford. Scania refused then. The DC group of trucks has expanded to the point of having little competion in North America. Perhaps Scania will have little choice but sell to a German conglomerate.
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Richard Warren 8:16AM (11/14/2006)
VW has wanted into the truck market for years, could this be it?
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isrltrkfn 9:56AM (11/19/2006)
vee-dub makes trucks for south america and the middle east... i think they're based on MEN i d think youd call them
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USS 10:53AM (11/14/2006)
#1
No the problem with the Volvo merge was that EU wouldn't allow it, as they (Volvo/Scania) would have a market share of about 98% of heavy trucks in the nordic countrys.
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Greg A. 7:47PM (11/14/2006)
"...the Swedish company has been fighting to maintain its independence from the Germans (sound familiar?)."
No, it doesn't. Sweden was neutral in WWII and wasn't invaded by Germany.
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adam 1:20PM (11/15/2006)
They're not talking about WWII. Opel is swallowing Saab.
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