Monday 17 December 2018

Traton refines portfolio for market readiness

Volkswagen Group has taken a further step towards floating its commercial vehicle arm Traton, by removing non-truck and bus enterprises from MAN’s control.

MAN’s Power Engineering businesses, which cover generation and very large diesel engines, are being transferred out of the ownership of MAN SE to the Volkswagen Group.

Traton comprises MAN, Scania and Brazil-based truck and bus manufacturer Volkswagen Caminhões e Ônibus, together with telematics brand RIO.

VW announced the formation of Traton, prior to the IAA Show this Autumn (Transport Operator 75), with the aim of floating it as a separate entity. It also has interests in other truck manufacturers including Navistar and Sinotruk.

Volkswagen’s finance and IT director Frank Witter said: “In the light of our decision to prepare Traton for a possible initial public offering (IPO), separating the Power Engineering business is a consistent step. The final decision on the IPO will be taken at the respective point in time depending on the market environment and economic conditions.”

Andreas Renschler, CEO of Traton and VW’s director of commercial vehicles, said: “With the planned sale of the business, we can focus on our core business in the future. We are refining our portfolio and taking another step towards capital market readiness.”

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