Production
Swedish Scania AB rejects German takeover bid
September 18th, 2006, 10:11pm by Ryan - 1 Comments
CNN Money reports that Swedish Truck Manufacturer Scania AB rejected a takeover bid of 12 Billion Dollars by German industrial group MAN to reach 90 percent of the European truck market.
The Swedish Wallenberg family that owns 29 percent of Scania AB said that the deal “did not reflect the fair value and potential of Scania.”
For More information visit CNN Money
I think this is good news, Scania maintains their Swedish Identity. I think that surprising news is that of the Wallenbergs where they responded that the deal did not reflect value. I think I would have liked their response to be “Scania AB is a Swedish brand, and it always will be”.
“Saab-Scania AB was the name taken when truck and bus manufacturer Scania-Vabis of Södertälje merged with car and aeroplane manufacturer SAAB of Trollhättan in 1969, under the Wallenberg group of companies. The merger led to the advance that SAAB no longer had to import the British Triumph Slant-4 engine , but could use the engine making facilities of Scania so, in 1972 they started manufacturing there for the 2.0 L B version. In 1977, Saab took advantage of Scania’s experience with turbochargers and added one to the engine, thus creating one of the earliest turbocharged engines in large production numbers. Saab cars have since become synonymous with the turbocharger.” (Source: http://en.wikipedia.org/wiki/Saab-Scania)
When the corporation was split in 1995 the name of the truck and bus division changed to Scania AB.
Here is an informational history video done in the late 1980’s for Scania. It’s interesting and is accurate at the time of production, so please keep that in mind. Enjoy!
Categories: 2000-2009, Scania Trucks & Busses, Södertalje, Sweden
1 Comments
CNN did not get the VW involvement in the deal, (not thorough research/reporting). Suspect the Wallenbergs only care about the money. david
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