SWEDEN: MAN/Scania/VW truck merger plan published

By just-auto.com editorial team | 13 December 2006

A plan for integrating the MAN and Scania truck businesses, written by current VW CEO Bernd Pischetsrieder, was published in Sweden on Wednesday.

According to Swedish financial newspaper, Dagens Industri, the plan outlines Pischetsrieder's proposals to merge the two businesses with Volkswagen's own heavy truck business, and create a European truck company with a number of different brands.

Volkswagen, the largest shareholder in both MAN and Scania, is supporting MAN's offer for Scania, although Scania views the takeover offer as hostile.

According to the newspaper, Pischetsrieder sent his 'private and secret' plan on 15 November to MAN CEO, Hakan Samuelsson, Scania CEO, Leif Östling and Börje Ekholm, head of Scania's second largest shareholder, after Volkswagen, Investor. The letter was sent out seven days before Pischetrsrieder resigned as CEO, a position he will step down from on 31 December.

There has been speculation that Pischetrsrieder will retain a key role in a new combined MAN/Scania, if the merger goes ahead.

Next Wednesday, 20 December, the EU is due to report on whether or not it will approve the proposed merger of two of Europe's largest truck manufacturers on competition grounds.