MAN Likes Navistar, Not In Talks

Posted on May 26, 2006

According to press reports in Europe, German engine and truck manufacturer MAN AG would like an even closer relationship Navistar International Corp., an interest that could MAN said could include an equity position in its U.S. partner.

The European reports said an MAN spokesman confirmed remarks to this effect by MAN Chief Executive Hakan Samuelsson in an interview with the Swedish business daily Dagens Industri, but added no talks were under way at this stage.

"We find Navistar interesting. I think that we should over time cement somehow our cooperation, including by becoming part owners," Samuelsson was quoted as saying.

"We are in preliminary talks on strengthening our engines cooperation and a joint plant will be on the agenda in 2007. We are also talking about cooperation in axles and electronic systems," Samuelsson told the Swedish paper.