Volkswagen has bought for 230 million euros with the US-truck builder Navistar. The alliance with the truck manufacturer is also a challenge to Daimler and its subsidiary Freightliner
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. <[Endif] -> Volkswagen aims through a partnership with the American truck manufacturer Navistar goal burp the important US market, and so on the truck world leaders penetrate. “This is a significant milestone on our path to create a global champion,” said VW Truck chief Andreas Renschler on Tuesday in a conference call.
Previously, Volkswagen and US truck maker had given a wide-ranging strategic alliance. To support the partnership, takes over the VW subsidiary Truck & amp; Bus for $ 256 million 16.6 percent at Navistar. Renschler concluded an increase and a future merger not: “All options are open.”
On the stock market, the partnership was well received: The price of Navistar shares shot times of more than 50 percent up , An industry insider called Volkswagen’s alliance with the US manufacturer as engagement. The Wolfsburg would get so on the important US market a foot in the door.
Unlike Daimler stock market chart show and Volvo Volkswagen is not represented with its two truck brands MAN and Scania in the US. Until now VW concentrated in heavy trucks in Europe, South America and Asia. To catch up with the largest and most profitable truck manufacturers, they must be present in all major world markets. “Now we take the next step,” said Renschler. . Whether on the horizon is the carve-out of Volkswagen’s truck division, he left unanswered: Here, too, were “all options open”
VW supplies components to Navistar – common products from 2019
part of the agreed cooperation with Navistar is the joint development of an engine platform and a common purchase. “By working together, especially when the drive train, our synergy potential increased again significantly in the group,” said Matthias Gründler, CFO of VW Truck & amp; Bus.
Navistar will benefit from the drive technologies of Volkswagen, and Volkswagen in return of large numbers. The powertrain, among the engine, exhaust aftertreatment, transmissions and axles, represents 60 percent of the value of a truck. VW will initially supply components to Navistar, 2019 common products are planned. For details, the companies have not come forward and announced it at a later time.
Navistar provides cost benefits of $ 500 million by 2021
Navistar CEO Troy Clarke estimated the savings for his house at least 500 million dollars in the next five years. By working to further synergies would result. The majority come from the shopping, Clarke said. In addition, Navistar will “sell more trucks”.
In the past year succeeded, known for its beefy tractors traditional company headquartered in Lisle, near Chicago thanks to savings, reducing the loss. For 2016, the smallest US truck manufacturer plans a turnover of last around ten billion dollars to return to the black.
attack on Daimler and Freightliner in the US
Heavy trucks only include relatively short time for Volkswagen -Reich. In 2000, the Wolfsburg carmaker had bought the Swedish truck manufacturer Scania, six years later, the Group acquired shares in MAN first. While MAN and Scania in Europe are strong and compete against the rival Daimler, Volvo and DAF, MAN Latin America fights in Brazil with the severe economic crisis.
In the US, VW had been nothing to report on the commercial vehicle market and had the business local manufacturers as well as the rival and world leader Daimler left showing stock market chart, inter alia, the Freightliner and Western Star include. Daimler Trucks sold in the first half 2016, worldwide nearly 214,000 trucks and nearly 11,800 buses. Volkswagen Truck & amp; Bus GmbH came with their brands in the same period to 90,000 trucks and buses sold
la / reuters