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Negotiations are to be started “promptly” with the employee representatives. MAN, with the truck and bus business, is part of Volkswagen’s Traton SE, which is now listed on the stock exchange, in addition to the much more profitable Scania.

Negotiations are to be started “promptly” with the employee representatives. MAN, with the truck and bus business, is part of Volkswagen’s Traton SE, which is now listed on the stock exchange, in addition to the much more profitable Scania.

The remaining minority shareholders should receive an “adequate cash compensation”, the group announced in Munich. How high it will be is still open. The traditional MAN group will cease to exist as an independent company and will therefore also disappear from the stock exchange list. The Munich-based truck and bus manufacturer is to be merged into the parent company Traton, in which the Volkswagen Group has bundled its commercial vehicle business with the brands MAN, Scania and VW, Traton announced. Traton holds 94.4 percent of the shares.

The remaining shareholders are to be compulsorily compensated (squeeze-out). The Traton board of directors had decided on the squeeze-out with the approval of the supervisory board and the Volkswagen committees, the group said. With a share of more than 90 percent, Traton has the right to do so. The minority shareholders should receive an “adequate cash compensation”, explained Traton. The height has not yet been determined.

How much the small shareholders get depends on the average price on the stock exchange over the past few months. At the closing price on Friday, their shares were worth a total of almost 300 million euros. With the withdrawal of MAN from the stock exchange and the delisting of the luxury-class subsidiary Audi, VW is simplifying its structures: Volkswagen, Traton and MAN have so far been parent and subsidiary and sub-subsidiary listed on the stock exchange. “If MAN SE is no longer an intermediate holding company, Traton can design the overall group structure more efficiently and implement decisions more quickly,” the message said. “In addition, the administrative effort can be reduced.” Financial experts had already expected the move in the course of Traton’s IPO last year. Source: ntv.de, hul / rts / dpa “Good earnings prospects in the armaments business: military spending is increasing worldwide. (Photo: imago images / Rainer Weisflog) A strategic one The decision in the MDax caused a sensation on the stock exchange: The Düsseldorf-based Rheinmetall Group is expanding its military technology business and is buying MAN parts from the joint armored vehicle subsidiary RMMV. The German automotive supplier and armaments group Rheinmetall wants to strengthen its armament and that To do business with armored armored vehicles entirely on your own in the future. The Düsseldorf-based MDax Group has announced that it will acquire the shares from its previous partner MAN Truck Buying up the bus and thereby partially withdrawing from the joint venture. Military technology from Germany: Rheinmetall offers the “Boxer” armored vehicle in various versions. (Photo: @ Rheinmetall Defense) The Rheinmetall shareholders agree that the armored wheeled vehicle business is under exclusive management The company announced that Rheinmetall could develop it further.https://123helpme.me/biology-essay-writing-service/

The division in question manufactures the heavy police vehicle “Survivor” as well as the military model “Boxer” and the much older troop transporter “Fuchs”. The two military wheeled armored vehicles are used by the Bundeswehr, among others. The realignment of the “Tactical Wheeled Vehicles Business Unit” met with positive reactions on the stock exchange. Rheinmetall shares rose sharply at times in the morning and reached a new high for the year at EUR 109.65. Rheinmetall operates its own production facilities together with MAN at locations in Kassel and Flensburg to build armored vehicles. So far, Rheinmetall has controlled 51 percent and MAN 49 percent of the shares in the joint venture called Rheinmetall MAN Military Vehicles GmbH (RMMV). Rheinmetall apparently does not have to fear resistance from MAN in the takeover plans. The share buyback should be completed in the second half of 2019 and legally retroactive to January 1, 2019, it said.

How much money Rheinmetall is transferring to MAN is unclear. The companies involved did not want to comment on the purchase price. The armored car division is one of two divisions of RMMV. In addition to armored vehicles, engineers and technicians also develop and build specially protected military trucks here. In the truck sector, the two companies intend to continue their cooperation unchanged. For Rheinmetall, orders from military customers have recently proven to be an important pillar. Thanks to rising arms expenditure worldwide, the company was able to record strong growth in the military sector in the past year.

Last autumn, for example, a major order from Australia brought in an order volume of around 2.1 billion euros. In this context, Rheinmetall was talking about one of the “largest individual orders in the company’s history”. Source: ntv.de, mmo / rts “MAN employs around 40,000 people worldwide. (Photo: picture alliance / dpa) MAN is restructuring in order to become more profitable The Volkswagen subsidiary is putting forward plans with deep cuts in the workforce. Up to 9,500 jobs are on the brink, entire plants could close. The low-margin commercial vehicle manufacturer MAN wants to become more profitable with drastic measures.

The traditional Munich group that belongs to Traton is planning to cut up to 9,500 jobs in Germany, Austria and worldwide. In some cases, development and production processes are to be relocated to other locations. The production site in Steyr and the plants in Plauen and Wittlich are up for grabs. “The intended realignment will be a fundamental restructuring of the MAN truck Bus business in all areas, including a reorganization of the development and production network as well as a significant downsizing, “says the press release. MAN sees the restructuring costs for the personnel measures in the mid to upper three-digit million range.

Negotiations are to be started “promptly” with the employee representatives. MAN, with the truck and bus business, is part of Volkswagen’s Traton SE, which is now listed on the stock exchange, in addition to the much more profitable Scania. MAN employs around 40,000 people worldwide. With the newly announced realignment, an operating return on sales of 8 percent should be achieved in 2023. Last year, the margin was just 2.9 percent. The package of measures is planned to improve earnings by around 1.8 billion euros. Source: ntv.de, mli / DJ “MAN Nutzfahrzeuge and Scania belong to the VW truck division. (Photo: REUTERS) Investors were disappointed when VW got his Truck subsidiary Traton did not take to the floor as announced.

Now the car company is steering. Traton could go public before the summer break. There is also news about the production of battery cells. The Volkswagen Group plans to list the Traton truck division on the stock exchange before the summer break this year. The management board decided, with the approval of the supervisory board, to go public and, subject to further capital market developments, to strive for it before the summer break of 2019, the company announced after a supervisory board meeting in Berlin.

 Volkswagen only put the plans on hold around two months ago because the conditions on the markets were not right. In March, investors reacted with disappointment to the abandoned corridor on the floor. Traton consists of the VW subsidiaries MAN and Scania as well as the Brazilian commercial vehicle subsidiary.

According to previous media reports, VW could bring up to a quarter of Traton to the stock exchange and thus raise around 6 billion euros. In addition, the Volkswagen Group is the first German car manufacturer to start manufacturing battery cells for electric cars. At the Salzgitter site in Lower Saxony, VW wants to manufacture battery cells together with a partner, the company said. In Salzgitter, the group is already researching cell production on a pilot line.

VW wants to invest just under a billion euros for this. VW did not want to say who the partner for the project is. Battery cell production is an expensive undertaking that involves investment costs in the billions. The entry into cell production has also been a demand on the part of the employees at Volkswagen for some time, which also wants to compensate for the loss of importance of conventional combustion engine production.

VW is currently building engines in Salzgitter. Lower Saxony’s Prime Minister Stephan Weil had described battery cell production for electric cars as “absolutely indispensable” in Germany. The great need for such a production is clear. It is also clear that thousands of jobs could be created with it.

Lower Saxony is a large shareholder in VW and has great voting power. SPD politician Weil called for “attractive location conditions” in Germany and a clear commitment to the production of battery cells. VW recently announced that it would advance research on battery cells together with the Swedish battery manufacturer Northvolt. The consortium led by Volkswagen and Northvolt also wants to participate in the promotion of the industrial production of batteries announced by Federal Minister of Economics Peter Altmaier. Source: mau / dpa / rts “In April car dealerships were closed in many places. (Photo: picture alliance / Julian Strate) In As a result of the Corona crisis, assembly lines have come to a standstill in many countries. Car dealerships are temporarily closed. Volkswagen is feeling this.

The German carmaker’s sales collapse massively. However, there is a ray of hope: As expected, the Volkswagen Group has come under heavy pressure due to the Corona sales restrictions. Worldwide, the group brands delivered 473,500 vehicles in April, 45.4 percent less than in the same month last year, as VW announced in Wolfsburg. All major brands saw clear double-digit percentage declines as dealerships in most countries were closed for most of the month, with China being a bright spot.

In the largest single market for VW, where the Covid 19 pandemic first broke out, economic life is returning to normal. In the country, the world’s largest automaker delivered 305,600 vehicles, one percent more than a year earlier. VW China boss Stephan Wöllenstein had already said that the group had been able to grow in the largest car market in the world. VW is the market leader in the country. In China, the lockdown began earlier due to the spread of the lung disease, and car factories are now producing at almost the same level as before the crisis – and often in three-shift operation.

Many car managers have recently been optimistic that in China buyers will also be coming back to the dealerships quickly because demand has pent-up. Elsewhere, however, things are not looking so good because the restrictions in Europe and North America did not really take effect until mid-March and possibly still have an impact well into the second quarter – even if production starts up again. For the period between April and the end of June, the three large German car groups Volkswagen, Daimler and BMW have already announced red figures, with the core brand VW Passenger Cars falling 38.3 percent to 300,500 cars in April. Brand sales boss Jürgen Stackmann had already given the first figures for the month at the beginning of the week and spoke of a “total failure” of demand due to the consequences of the pandemic. In Germany, deliveries of the brand with the blue VW logo fell by 67 percent, in Europe by as much as 83 percent. In Great Britain, France, Italy and Spain there were almost no more sales, where 99 percent had collapsed.

In China, deliveries for the core brand fell by 2.5 percent, albeit with an increasing market share. “This shows that China is almost back to pre-crisis levels,” said Stackmann. At Audi, the global decline in April was 41.3 percent to 82,400 cars. With 16,300 cars, Porsche delivered a third fewer sports cars and SUVs. The truck brands MAN and Scania, which VW bundles in the commercial vehicle holding Traton, came under the wheels even more. With around 4,400 trucks and buses, MAN delivered 62.6 percent less, while Scania’s 3,000 vehicles dropped by 66.6 percent. Source: ntv.de, fzö / dpa “” Traton is already number one in the sale of commercial vehicles in Europe and South America. (Photo: REUTERS) The car company Volkswagen takes a big step and brings its subsidiary Traton to the stock exchange. This should achieve a billion plus and a successful attack on the global commercial vehicle market. The Volkswagen Group wants to bring its truck and bus subsidiary Traton on the stock exchange in two weeks.

With the sale of a good tenth of the shares, the Wolfsburg-based company initially wants to flush up to just under 1.9 billion euros into the coffers, as the company announced. The group has long had its sights set on the proverbial walk to the parquet, now VW CEO Herbert Diess and Traton boss Andreas Renschler are setting the pace. The first trading day is planned for June 28th.

Overall, Volkswagen is aiming for an overall valuation of 13.5 to 16.5 billion euros for Traton. In March, VW had put the plans on hold for the time being due to the conditions on the financial markets, the company did not want to sell the shares in the division with the large commercial vehicles below value. The project is an important building block in Diess’ plans to increase VW’s market value.

Analysts and investors consider it easier to evaluate different businesses independently of one another. The mechanical engineering company Renk and the large engine manufacturer MAN Energy Solutions are also being scrutinized. “The IPO has the clear goal of creating added value for our stakeholders,” said VW CFO Frank Witter. In addition to employees and other interested parties, this also includes the shareholders. After the initially canceled IPO (Initial Public Offering) in March, stock market experts reacted disappointed.

For a long time, capital market analysts have been calling for a stronger separation of businesses at VW that have little to do with each other. The company achieved sales of 25.9 billion euros in 2018, and earnings before interest and taxes adjusted for one-off effects were 1.7 billion euros. In the first quarter, Traton’s sales climbed six percent year-on-year to 6.4 billion euros, and operating profit by more than a fifth to 470 million euros. Traton’s shares are to be sold to new shareholders in Frankfurt for 27 to 33 euros each go. Traton is also to be listed on the Stockholm stock exchange, after all a large part of the company is made up of MAN, the Swedish Scania brand. Volkswagen sells a total of up to 11.5 percent of the capital, including the greenshoe option.

Depending on the allocation price, VW will then collect between 1.55 and 1.9 billion euros.