Truck manufacturers MAN and Scania are thinking of leaving Russia
Date: 15 Sep 2022 Time: 06:36:55
Izvestia: Truck manufacturers MAN and Scania are selling dealerships in Russia
Truck and bus makers Germany’s MAN and Sweden’s Scania are considering leaving Russia and selling dealerships to Russian partners, Izvestia reports.
Scania’s finance division, which rents cars in Russia, will also be sold. At the same time, the plant in St. Petersburg, owned by the Traton company, which includes both companies, remains in its ownership.
The deals await approval from the supervisory boards of Traton and Volkswagen, which control the company, as well as Russian regulators. It is expected to be completed by the first quarter of 2023.
Tratton does not expect a profit from the Russian asset sale and expects a loss of €550m.
Earlier it became known that the Finnish manufacturer of telecommunications equipment Nokia will finally leave Russia. Reuters reports that by the end of the year, the company intends to wind down most of its Russian business.
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