Volkswagen’s supervisory board chief Piech wants MAN and Scania trucks cooperation
By APThursday, April 1, 2010
VW’s Piech wants MAN and Scania trucks cooperation
FRANKFURT — Volkswagen AG’s supervisory board chief says he wants truck builders MAN SE and Scania AB — which both count VW as their biggest shareholder — to cooperate.
Ferdinand Piech, who spoke at MAN’s annual general meeting Thursday, is also supervisory board chairman of MAN, based in Munich.
Scania is headquartered in Sodertalje, Sweden.
Volkswagen, Europe’s biggest automotive group and based in Wolfsburg, expects synergies of between euro500 million and euro1 billion ($675 million and $1.35 billion) could be created through a tie up.
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