• Airways
  • Railway
  • Roadways
  • Shipping & Port
Transport Advancement
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports

    Shifting Sourcing strategies with Maersk, Bose & Infineon – Reuters Events

    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Projects
    Highways England unveils plans to widen A12

    Highways England unveils plans to widen A12

    African Development Bank, Africa50 in Landmark Bridge Project Linking Kinshasa and Brazzaville

    Geely Holding to Cooperate with China Aerospace Science and Industry Corporation on Developing Technologies Including Supersonic Trains

    AECOM to provide site supervision services for Malaysia’s East Coast Rail Link project

    Talgo obtains €30 million from the European Investment Bank for Innovation projects

    U.S. Department of Transportation Advances Rail Projects in Florida and Texas

    World premiere of the Mercedes-AMG Project ONE: Mercedes-AMG brings Formula 1 technology to the road

    One of the world’s longest electric car highways will be built in Australia

    CX North America Releases Next-Generation Mobile App for Drivers

  • Articles
  • Press Statements
  • Market Reports

    Shifting Sourcing strategies with Maersk, Bose & Infineon – Reuters Events

    Austal signs agreement to buy BSE Maritime Solutions

    Austal signs agreement to buy BSE Maritime Solutions

    HPC leads machine learning initiative at Hamburg container terminal

    Chinas busiest port sees growth in sea-rail transport

    IATA health checklist to help airlines implement ICAO Covid-19 guidance

    Air cargo demand helps Korean to Q3 operating profit

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Kuehne + Nagel makes acquisitions in the Netherlands and Belgium to expand its overland network

    Transoft acquired Keysoft Solutions

    Transoft Solutions Completes Acquisition of Uk-based Keysoft Solutions

    GRAHAM

    GRAHAM revenue stabilisation sets the platform for sustainable growth

    DP World Acquires Topaz in USD 1.1 Bn Deal

    DP World Acquires Topaz in USD 1.1 Bn Deal

    Siemens sells electric aircraft-propulsion business to Rolls-Royce

  • Events
  • Contact Us
No Result
View All Result
Transport Advancement
No Result
View All Result
Home Market Reports

Volkswagen Steps Into The U.S. Truck Market By Purchasing A 16.6-Percent Stake In Navistar

6th September 2016
in Market Reports, Roadways
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

Volkswagen Truck & Bus is announcing its purchase of a 16.6 percent stake in Navistar, the fourth largest U.S. truck company.                                                                                                                                                                                                                            

This not only marks Volkswagen’s entry into the U.S. commercial truck market, but also the first major glimpse of positive times for the German automaker after the dieselgate debacle with the U.S. EPA.

 

Volkswagen reportedly agreed to pay $15.76 a share, which is a premium over the $14,07 share price when the stocks closed on Friday. However, the extra price is buying Volkswagen two seats on Navistar’s board. The new comes from Market Watch, whose source is said to be someone close. The total purchase will cost VW roughly $256 million.

 

The entry into the U.S. commercial truck market is big news for Volkswagen Truck & Bus, which already runs its own successful commercial truck line, consisting of MAN and Scania. The VW subsidiary reportedly pulled in $38.5 billion in pre-tax revenue for 2015.

Navistar, on the other hand, has been floundering in economic troubles for the last several years. The company is said to be in $5 billion worth of debt and is expected to post another loss for 2016. The company even had its own version of VW’s dieselgate, having to pay $7.5 million to the U.S. Government.

 

Matthias Gründler, CFO of Volkswagen Truck & Bus, summed up the arrangement, saying: “Our collaboration, especially with regard to the powertrain, will considerably increase our synergy potential. Navistar will be able to profit from excellent powertrain technologies and we, in turn, will benefit from significantly higher volumes. Initiating this strategic alliance now will enable us to implement the requirements of Navistar into our joint component platforms from the get-go.”

 

Basically, this partnership’s short-term goals focus on VW powertrains and technology for Navistar products, while Navistar will provide more production volume for Volkswagen. A procurement joint venture will also be established that focuses on global sourcing of parts.

 

Previous Post

Austin's Capital Metro Joins Smart City Pioneers with High-Tech Trip Planning Tools from HaCon & Bytemark

Next Post

Ball Aerospace ranked as tier 1 superior supplier by the US Air force

Related Posts

News

DB Schenker to expand in the UK with new Manchester facility

28th September 2023
News

Sarens Canada Leading The Way In Crane & Transport Equipment

26th September 2023
WMATA's updated bus plan to accelerate transition to zero-emission fleet
News

TfL Achieves Largest Zero-Emission Bus Fleet in Western Europe

20th September 2023
Wrightbus Secures UK Government Funding To Innovate Hydrogen Coaches
News

Wrightbus Secures UK Government Funding To Innovate Hydrogen Coaches

20th September 2023
News

Aurrigo to deploy autonomous technology on mainland Europe

20th September 2023
UK Plans A $95mn Hydrogen Gigafactory To Create Auto Parts
News

Transport infrastructure: over EUR 352 million of EU funding to boost greener mobility

20th September 2023
Next Post

Ball Aerospace ranked as tier 1 superior supplier by the US Air force

Latest Post

Lufthansa Cargo expands A321F network in Europe
Airways

Lufthansa Cargo expands A321F network in Europe

28th September 2023
DHL Global Forwarding Meets Demand for Australia's High Value Perishables Exports
Airways

DHL Express launches its first network flight to Argentina

7th September 2023
ANA Cargo becomes first Japanese carrier to join Pharma.Aero
Airways

ANA Expands SAF Flight Initiative Services for Air Cargo

7th September 2023
Menzies Aviation extends cargo partnership with Jazeera Airways at Kuwait Airport
Airways

Menzies Aviation extends cargo partnership with Jazeera Airways at Kuwait Airport

5th September 2023
Qatar Airways to launch flights to Rabat and expand JBA with Royal Air Maroc
Airways

Qatar Airways Cargo rolls out service to protect valuable and vulnerable shipments

5th September 2023
Swissport awarded CEIV Pharma in Liege and Toronto
Airways

Swissport awarded CEIV Pharma in Liege and Toronto

3rd September 2023
Transport Advancement

About Us

Transport Advancement is a leading information centric website for latest updates within the industry. We cover Railway, Road Traffic, Airways, Shipping & Port and run with an objective to provide knowledge driven content to our readers and subscribers in various forms like news, projects, upcoming events.

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack
  • Newsletter Subscription

System

  • Search
  • Site map
  • RSS Feed
  • Airways
  • Railway
  • Roadways
  • Shipping & Port

© 2022 Copyright Value Media Services 2022 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Articles
  • Press Statements
  • Market Reports
  • Events
  • Contact Us

© 2022 Copyright Value Media Services 2022 All rights reserved.