Nissan Diesel Denies DaimlerChrysler Takeover Reports
March 1, 2000
Nissan Diesel Motor Co dismissed recent German news reports that DaimlerChrysler AG would take over the heavily indebted Japanese truck maker.
"We deny the German reports," a spokesman told Stark's News Service. Germany's VWD news service said last week that DaimlerChrysler may seek to expand its Asian presence by purchasing two Asian vehicle manufacturers, including Nissan Diesel. The news organization also said that DaimlerChrysler already has negotiated contracts for deals with either Nissan Motor or its partner, Renault S.A. No other Asian auto maker was named.
"We read the report. We do not comment on speculation," a DaimmlerChrysler spokesman told Stark's last week. Neither Nissan Motor or Renault could be reached for comment. Last month Nissan Motor received approval for a plant to restructure and reduce Nissan Diesel's massive debt load, clearing the way for expanded cooperation with Renault Vehicules Industriels.
Renault owns 36.8% of Nissan Motor and 22.5% of Nissan Diesel. Sometime soon Nissan Diesel will begin supplying diesel engines to Renault and Renault VI. It will also distribute a line of Renault-branded medium duty commercial vehicles in Japan. Renault VI and its U.S. arm, Mack Truck, will distribute two unspecified Nissan light duty trucks in Europe and the Americas.