Focused on expansion
MAN, the German manufacturer of commercial vehicles and mechanical engineering equipment, has expanded into the South American market with the acquisition of VW Truck & Bus from Volkswagen.
, the German manufacturer of commercial vehicles and mechanical engineering equipment, has expanded into the South American market with the acquisition of VW Truck & Bus from
.
VW Truck & Bus has been producing trucks and buses since 1996 and employs around 5,000 staff at its Resende plant in
The company is valued at €1,175m and primarily sells vehicles in Latin America and
Both boards have agreed the sale, which is due to take place on 1 January 2009.
Håkan Samuelsson, chief executive of MAN, said: ‘Having concentrated on our core business units, MAN is now focusing on expansion in all business areas.
'The acquisition of VW Truck & Bus in
'The new business area with its strong market position will provide MAN with access to the Latin American market.
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