On September 23, in response to media reports that the German Volkswagen Group will try to acquire truck giant German Man Group on September 23, Anton Wyman, chairman of the MAN Commercial Vehicles Co., Ltd., responded for the first time: “There is no indication that the public will acquire Mann, and Mann Incorporate into Volkswagen's brand system."
Recently, at the Frankfurt Motor Show held in Germany, Volkswagen's chairman Ferdinand Piël once again talked about the Volkswagen Truck Union, which led to speculation in the industry that Volkswagen will again open the door to acquisitions.
After the financial crisis broke out, the truck market was unpredictable and the Volkswagen Truck Alliance faded out of the media. Today, Ferdinand Piël once again signaled: "The strategic road to advance the truck business is difficult, but the brave can go faster."
Currently, Volkswagen already has 10 brands such as Scania, Audi, Bugatti, Bentley, Lamborghini, Skoda, SEAT, and Porsche . If the acquisition is successful, its global truck business will be even more powerful.
Anton Weinmann said: "As a major shareholder of the company, Volkswagen has always supported Mann's strategic plan. Mann's acquisition of a 25% stake in Sinotruck received public support. Whether or not to further acquire Mann depends on the strategic plan of the public. From the medium-term goal, Volkswagen is our partner."
At the end of last year, Mann acquired the Volkswagen Bus and Coach Department in Brazil. There was analysis at the time that this was a strategic deployment of the Volkswagen Truck Alliance. Now the company has changed its name to Mann America and it has begun producing Man's D08 engine. In addition, when Mann's CKD assembly plant in Uzbekistan achieved an annual production capacity of 1,000 trucks, Man will establish a joint venture in the country. At the same time, Mann is also considering joining hands with Russian partners to establish a CKD assembly line in the country to avoid Open Russia's current heavy import tariff pressures.
Weiman also confirmed that Man is in talks with the Federal Republic of Germany Rheinmetall Company to establish a joint venture to produce armored trucks.
When asked about Mann’s profitability this year, Wayman said: “It depends on absolute sales in the second half of the year. At present, we cannot predict future market performance. However, MAN Commercial Vehicles has saved costs by more than 5 by reducing temporary workers and other measures. Billion euros."
Weiman said that the way to save costs by reducing temporary employees has obvious effects. It is hoped that the company will continue to implement these measures in 2010 and 2011, which will reduce the break-even point of the group. “We did not take the form of forced lay-offs. When these measures were taken, we all reached an agreement with the union leaders.â€
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