Scania forms holding company for emerging markets
Scania forms holding company for emerging markets Scania is to coordinate its activities in new markets through a holding company known as Scania Trade Development AB. The aim is to provide new businesses with a 'home base' in terms of ownership and organisation, providing them with specialised assistance in managing their activities during the development phase. "We aim to create better conditions for profitable development and improve our risk management by gathering our newly established businesses under this umbrella," explains Arne Karlsson, Executive Vice President of Scania and chairman of the board of the new company. Initially, Scania Trade Development will include the market companies in Russia, Estonia, Lithuania, Ukraine, Romania, Bulgaria, Slovenia and Croatia. With 260 employees at present, the group anticipates strong growth. Anders Spåre, currently head of Business Development and Establishments at Scania, has been appointed MD of the company, which will commence operations on 1 January 2000. "One of Scania Trade Development's major tasks will be to expand the level of knowhow within each company in order to exploit the development potential of the businesses," he comments. For further information, please contact Ulf Söderström, Corporate Communications, tel. +46-8-553 810 44, e-mail: ulf.soderstrom@scania.com Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. With 23,500 employees and production facilities in Europe and Latin America, Scania is one of the most profitable companies in its sector. In 1998, turnover totalled SEK 45,300 million and income after financial items SEK 3,200 million. Scania products are marketed in about 100 countries worldwide and approximately 96 percent of total production is sold outside Sweden. Scania press releases are available on the Internet, www.scania.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/28/19991228BIT00230/bit0001.doc http://www.bit.se/bitonline/1999/12/28/19991228BIT00230/bit0002.pdf