Iveco Looking for European Partner

May 19, 2000

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Iveco is reportedly looking for an alliance in Europe. Giancarlo Boschetti, CEO of Fiat's commercial vehicle unit, told an Italian business daily that they are looking for a partner in Europe to consolidate Iveco's presence in its main market.

The company's current share of the European truck market is 18.3%, second only to DaimlerChrysler. The recent Volvo/Renault and Volkswagen/Scania alliances have created strong competition, but Boschetti said they won't act hastily. "We know that a mistaken accord would be a lot worse than no accord at all," he said.
European analysts say Germany's MAN or Paccar-owned DAF are logical candidates. Navistar International has also been mentioned by Italian newspapers as a possible Iveco partner.

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