Volkswagen Truck division open to a takeover of Navistar
Volkswagen’s heavy-vehicle division is open to a takeover of U.S. affiliate Navistar International Corp. as the German company seeks scale to compete with global leaders Daimler and Volvo AB, Matthias Gruendler, finance chief of VW Truck and Bus, told reporters.
The company might consider boosting its existing stake of just under 17% of the Illinois-based heavy truck manufacturer, though that could trigger a mandatory takeover offer, Gruendler said, outlining a potential price tag of about “3 billion to 4 billion,” without specifying dollars or euros.
Navistar biggest plant worldwide is located in Escobedo, Nuevo Leon, where the company builds ProStar and LT series of its International Class 8 trucks, which are exported to the U.S., Central and South America, Saudi Arabia, Australia and even China.
Volkswagen already controls trucks and buses companies Scania and MAN, both of them with assembly plants in El Marques, Queretaro.