 News of January 25, 1999
(the
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Page 2 of 3
| Volvo has
acquired 13,613,148 A-shares and 12,089,330 B-shares, representing 13.47 percent of
Scania’s voting interest and 12.85 percent of its capital interest as of January 15,
1999. The commercial vehicles industry today is faced with unprecedented consolidation
pressures. Volvo is already among the leading players in the world in this industry. To
further strengthen this position and Volvo´s possibilities to compete globally, Volvo is
committed to taking an active part in the consolidation process.
"Our analyses of different alternatives show that Scania is a very good
alternative for Volvo", says Volvo’s chief executive officer, Leif Johansson. A
combination of Volvo and Scania would create Europe’s largest and the world’s
second largest manufacturer of heavy trucks and buses. A manufacturer with strong brands,
significant development resources and large volumes, particularly in the critical diesel
engine area. In addition, Scania and Volvo are similar in terms of company culture and
business values. Volvo believes that these strengths would enhance the combined
entity’s ability to compete globally and to create significant shareholder value. |
Top of the line at Volvo
The Topline at Scania |
| Mercedes-Benz
to open a new sales center in Berlin, the Mercedes-Benz experience
(Jan. 7, 1999). The new subsidiary of Mercedes-Benz in
Berlin, Germany, presents itself as car factory of the future.
The investment into the new subsidiary in Berlin will be about DM 75
mill. and represents a complete new sales concept. Buying a car should become a brand
event and a shopping highlight. Grand opening will be before year 2.000.
In the interior the modern architecture with its
steel-glass-construction offers a 22 m high waterfall flowing into an artificial
lake, a free-climbing-wall with water curtain and huge video projections. On the
screen promotion videos will be shown. And beside an info center and the sales area,
a small bistro, a small market store with food and flowers is planned. The 14.000 qm big
showroom which goes over 4 levels is connected with glass elevators, ramps and escalators.
Main target of Mercedes-Benz is to animate younger and new customers to visit the new
communication center Mercedes-Benz. |
| Continued
Negotiations Between DaimlerChrysler and Nissan Motor
Stuttgart/Tokyo -- DaimlerChrysler and Nissan confirmed that the President of Nissan
Motor, Yoshikazu Hanawa, and the Chairmen of DaimlerChrysler, Robert J. Eaton and Juergen
E. Schrempp, have met in Tokyo on January 21, 1999. They had constructive discussions
regarding Nissan Diesel and also explored possible cooperation projects with Nissan
Motor. The companies will continue the discussions on these topics, but have not made any
decision yet.
|
Visteon
1998 earnings increase 37 percent to record $712
million
DEARBORN, Michigan, January 21, 1999 – Visteon Automotive Systems is
reporting a second straight year of strong financial performance as net
income was $712 million, up 37 percent from 1997. Revenue for the year was
$17.8 billion, up 3 percent from 1997, with after-tax return on sales of 4.0
percent, up a point.
|
 Ford to
acquire engineering company with aluminum stamping expertise |
| DETROIT, Mich., Jan. 19, 1999 - Stressing its commitment to
environmental technology leadership, Ford Motor Company plans to acquire an engineering
company with unique experience in aluminum stamping. Ford has signed a letter of intent
to acquire 100 percent ownership of Troy Design and Manufacturing (TDM), based in Redford,
Mich. TDM has extensive experience designing dies and other manufacturing tooling, and has
particular expertise, developed over twenty years of cooperation with Ford Motor Company,
in designing dies to stamp aluminum. |
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Copyright Automotive Intelligence, www.autointell.com
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