MAN Buys ERF From Western Star
January 31, 2000
German truck maker MAN has purchased Western Star's British truck subsidiary ERF. MAN will pay 65 million pounds (approximately $108 million US) and assume ERF debts of 23 million pounds ($38 million US).
ERF sold about 3,000 heavy duty trucks in its last financial year, mostly to buyers in Britain. The sale, said Western Star, will allow ERF to benefit from increased asset utilization and cost synergies with MAN, and will give it better access to European markets.
Western Star will buy MAN's import operations in Australia and New Zealand, including a network of 42 parts and service dealers in the two countries. Products include Class 3-8 cabover trucks, bus and coach chassis, intra-city buses and inter-state coaches.