Navistar Announcement: TRATON and Navistar Reach Definitive Agreement for Acquisition of Navistar
We wanted to provide you with some additional information as well as links to the official press release as the news unfolds.
View the full announcement: https://news.navistar.com/Traton_and_Navistar_Reach_Definitive_Agreement
The combination of our companies will create a global champion in vehicles with enhanced scale, a strong portfolio of best-in-class brands, and a clear leader in cutting-edge products, technologies, and services. Combining TRATON’s strong position in Europe and substantial presence in South America with Navistar’s complementary presence in North America will create a global company with increased reach and enhanced capabilities.
Over the past almost four years, TRATON and Navistar have benefited from a highly collaborative and productive strategic alliance focused on procurement and technology development. We view the proposed acquisition as the logical next step in our relationship with TRATON. Building on the success of the alliance, it will allow us to become an even better company.
The strategic rationale for combining our companies is the opportunity for significantly enhanced product development and synergy opportunities.
Operationally, it is business as usual until closing of the transaction. Supporting you is of the utmost importance, and we remain committed to delivering the best quality and service. Over the coming days, please do not hesitate to reach out to us with any questions.
We appreciate your business and continued partnership and look forward to building our relationship into the future.
About the Volkswagen Group:
Based in Wolfsburg, Germany, the Volkswagen Group is one of the world’s leading automotive manufacturers, and the largest car maker in Europe. The Group comprises twelve brands from seven European countries: Volkswagen Passenger Cars, Audi, SEAT, ŠKODA, Bentley, Bugatti, Lamborghini, Porsche, Ducati, Volkswagen Commercial Vehicles, Scania and MAN. The passenger car portfolio ranges from small cars all the way to luxury-class vehicles. Ducati offers motorcycles. In the light and heavy commercial vehicles sector, the products range from pick-ups to buses and heavy trucks. Every weekday, 671,205 employees around the globe produce on average 44,567 vehicles, are involved in vehicle-related services or work in other areas of business. The Volkswagen Group sells its vehicles in 153 countries. In 2019, the total number of vehicles delivered to customers by the Group globally was 10.97 million (2018: 10.83 million). The passenger car global market share was 12.9 percent. Group sales revenue in 2019 totalled EUR 252.6 billion (2018: EUR 236 billion). Earnings after tax in the fiscal year now ended amounted to EUR 14.0 billion (2018: EUR 12.2 billion).
About TRATON SE:
TRATON SE is a subsidiary of Volkswagen AG and a leading commercial vehicle manufacturer worldwide with its brands MAN, Scania, Volkswagen Caminhões e Ônibus, and RIO. In 2019, TRATON GROUP’s brands sold around 242,000 vehicles in total. Its offering comprises light-duty commercial vehicles, trucks, and buses at 29 production and assembly sites in 17 countries. The Company had a workforce of around 82,700 employees worldwide across its commercial vehicle brands as of December 31, 2019. The Group seeks to transform the transportation system through its products, its services, and as a partner for its customers.
About Navistar:
Navistar International Corporation (NYSE: NAV) is a holding company whose subsidiaries and affiliates produce International® brand commercial trucks, proprietary diesel engines, and IC Bus® brand school and commercial buses. An affiliate also provides truck and diesel engine service parts. Another affiliate offers financing services. Additional information is available at www.Navistar.com.