Drivers

Scania Added To Volvo Rumor Mill

January 15, 1999

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Volvo bought a 12.85% share in rival truck maker Scania, reports the Associated Press, and wants to discuss a merger of the companies.

Such a combination would create the world’s second largest manufacturer of heavy trucks and buses. But the main owner of Scania believes the time is not right for a merger discussion, and characterized Volvo’s stock purchase as “close to hostile.”
The announcement comes amid speculation that Volvo is looking to sell or merge its car division with a larger car company in order to concentrate on its heavy vehicle business. Ford, Fiat and Volkswagen all have been rumored to be in talks with Volvo about a possible deal. Ford officials have stated that any such deal would not include heavy trucks.

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