Scania acquires controlling interest in Italian importer
Scania has signed an agreement in principle on the acquisition of 80 per cent of the shares in Italscandia Autocarri SpA, distributor of Scania trucks on the Italian market.
"This acquisition is part of our strategy to reinforce and enhance our position on one of Europe's largest markets," says Leif Östling, President and CEO of Scania.
Owing to its size and geographical location, Italy is a market of strategic importance. Italy is Scania's seventh-largest single truck market. Scania has a 15 per cent market share of the Italian market, where totally about 14,000 trucks were registered in 1997.
Italscandia, with its headquarters in Trento in northern Italy, was founded in 1973. The company, including its wholly-owned dealers, employ about 200 people, and had a turnover of ITL 351,000 m. (approx. SEK 1,600 m.) in 1997.
For further information, please contact Thomas Skoglund, Information Manager, tel. +46-8-553 812 58, mobile +46-70-556 07 97.
Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. With 23,800 employees and production facilities in Europe and Latin America, Scania is one of the most profitable companies in its sector. In 1997, turnover totalled SEK 39,700 million and profits after depreciation SEK 2,800 million. Scania products are marketed in about 100 countries worldwide and approximately 95% of total production is sold outside Sweden.