Volkswagen, one of Germany’s largest automobile manufacturers, looks to be set to acquire yet another auto company. They already own Audi, Bentley, Bugatti, Lamborghini, and Porsche, but it seems that the five companies are not enough. VW posses two-thirds of Scania stock and have just recently received the support of shareholders, equating to an estimated 90.7 percent share ownership. The German automaker has been trying for the last decade to incorporate a heavy-trucks unit into their operations. With this latest security to their endeavor, VW is now offer $9.2 billion for the minority shares in the Swedish car company.
They have hired Andreas Renschler, former Daimler truck chief, to take over the new acquisition. He comes with valuable experience as he spent almost a decade at Daimler running trucking operations that expanded across the globe. “Renschler is definitely the best man for this challenge with his global industry experience and a neutral approach toward the brands,” said Roman Mathyssek, an analyst at Strategy Engineers GmbH. He has restructured projects in the U.S., Japan, and Brazil as well as creating new markets in countries like China and India. Trucking has become a vital aspect of local and global trade. VW’s bid for Scania is a smart move. They already proven time and again that they know how to successfully integrate companies. Let’s see if they can do as well as they have with some of their luxury brands.
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