Swedish Scania says looking at merger with Germany's MAN

15th November 2010, Comments 0 comments

Swedish truckmaker Scania and Germany's MAN, both of which are partly owned by Volkswagen, are considering merging, Scania said in a statement Monday.

Scania said it has investigated with MAN collaboration possibilities which has "shown that a full realisation of potential synergies requires a closer cooperation by combining the two companies," while maintaining the two separate brands.

"At this stage no decision has been taken, as there are a number of outstanding issues of commercial and legal nature. A decision can be made only when these issues have been resolved," added Scania.

Volkswagen owns 45.7 percent of Scania and nearly 30 percent of MAN. MAN also has a 13.4 percent staken in MAN.

© 2010 AFP

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