News Column

Scania welcomes a clear and long-term ownership structure

May 16, 2014



ENP Newswire - 16 May 2014

Release date- 14052014 - Today Volkswagen AG has announced that its offer to Scania's shareholders has been accepted to the extent that Volkswagen will hold more than 90 percent of the shares in Scania.

In view of this, Scania's President and CEO Martin Lundstedt makes the following comments: 'Volkswagen has been our main owner since 2000 and has consistently given strong support to Scania's strategies, business model and investments. Following the clarification of the ownership structure, Scania and its management team welcomes the opportunity to accelerate our cooperation projects with Volkswagen and MAN without restrictions and thereby create a successful, global commercial vehicle alliance with strong identities for each brand.'

'With the new opportunities to use the common resources and competencies in the Volkswagen Group, our ability to deliver profitable and sustainable solutions to our customers will be improved further. This will also support our growth strategy up to 2020. 'At Scania we will continue to develop our position as a centre of excellence for commercial vehicles, services and solutions going forward. 'I am also convinced that all of our employees will benefit from becoming full members of the Volkswagen family.'

Contact:

Erik Ljungberg

Senior Vice President

Corporate Relations

Tel: +46 73 988 35 57

Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. Service-related products account for a growing proportion of the company's operations, assuring Scania customers of cost-effective transport solutions and maximum uptime Scania also offers financial services. Employing some 41,000 people, the company operates in about 100 countries.

Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2013, net sales totalled SEK 86.8 billion and net income amounted to SEK 6.2 billion. Scania press releases are available on www.scania.com (http://www.scania.com/se)


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Source: ENP Newswire


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