Filed under: Truck, Europe, Work, Earnings/Financials, Fiat, Rumormill
Although many suspect that
Daimler wants to buy Iveco from
Fiat Industrial S.p.A., the German automaker denies it is angling to purchase the commercial division. According to
The New York Times, there were supposedly talks during the summer about Daimler purchasing the "non-car business" - we're not sure if that means the agricultural and the truck side - but apparently the two sides couldn't agree on a price.
Daimler is the largest of players in the heavy truck industry - its various brands being among the market leaders on at least three continents. Outside opinion is that the German firm wants Iveco in order to help it penetrate Asia, where its current offerings are priced out of the mass-market competition. If nothing else, it's being suggested that Daimler might try to work out some sort of partnership agreement with Iveco. Doing so could help keep integration costs way down and avert the scrutiny of anti-trust authorities. Fiat hasn't commented on the matter, but this kind of tie-up is perhaps exactly what Fiat CEO Sergio Marchionne had in mind when he
split the company in two.
[Source:
The New York Times]
Is Daimler interested in buying Fiat's Iveco truck ops? originally appeared on Autoblog on Fri, 24 Sep 2010 11:01:00 EST. Please see our terms for use of feeds.
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25-09-2010, 09:07 PM
