News

MAN Truck & Bus takes over the joint venture named «MAN Force Trucks Pvt. Ltd.» established in 2006 which produces MAN CLA heavy trucks both for realization at the Indian market and for export to Asia and Africa. It is assumed, that the agreement concluded between MAN and the joint venture will come into effect by the end of the year upon being approved in a respective manner. By the way, the Bavarians increased their interest in MAN Force Trucks Pvt. Ltd. from 30% to 50% yet in 2008. There were times when MAN bosses privately had expressed their discontent with slow paces of industrial organization at the joint venture and low quality production. It’s been obvious that this state of thing finally disappointed the Munich corporate partners so they decided to take over the joint venture and to handle it themselves. That means that Munich takes the full responsibility for production and sales of MAN CLA in India and abroad as well.

In turn Volkswagen has acquired the control stake of MAN SE and now owns 55,9% of the votes and 53,71% of share capital of the MAN corporation.