VW Unit Wants to be Full-Range Supplier

Volkswagen AG's commercial vehicle unit wants to be a full-range supplier, the unit's chief executive said Tuesday. "It makes sense to be a full-range supplier," CEO Bernd Wiedemann said just before the annual International Automobile exhibition. There have been rumors in the markets that Wolfsburg-based VW was interested in integrating its heavy trucks activities in Brazil with a merged MAN AG and Scania AB.

From AFX News Limited

HANOVER, Germany — Volkswagen AG’s commercial vehicle unit wants to be a full-range supplier, the unit’s chief executive said Tuesday.

"It makes sense to be a full-range supplier," CEO Bernd Wiedemann said just before the annual International Automobile exhibition.

There have been rumors in the markets that Wolfsburg-based VW was interested in integrating its heavy trucks activities in Brazil with a merged MAN AG and Scania AB.

Munich-based MAN is trying to acquire Scania in a $12.1 billion deal, but the Swedish truckmaker has rejected the offer, as have its major shareholders, including Investor AB and Volkswagen, which has an 18.7 percent stake in Scania.

The commercial vehicle unit could become an independent entity in the future, Wiedemann added, saying that "all is possible."

"We will enter cooperation where it makes sense," he added.

Shares of Volkswagen were up 0.14 percent to $82.36 in Frankfurt trading.