MAN, the German industrial conglomerate, announced Wednesday that it is interested in making a bid for Scania, the Swedish truck maker. If combined, the companies would become Europe’s leading truck business.
Scania announced Tuesday that it has “reasonable grounds to assume that MAN will make a bid for the company.”
Scania is a manufacturer of trucks and buses for heavy transport applications, as well as industrial and marine engines. It employs 30,000 people in about 100 countries. In 2005, its revenue was $8.7 billion and its net income was $645 million.
MAN is a manufacturer of vehicles, engines and engineering equipment. It employs about 50,000 people worldwide with annual sales of $16.5 billion.
An additional statement by MAN is expected next week.