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(SCV-A, SCV-B) --A
producer of commercial trucks and buses, industrial and marine engines for the worldwide
market. The company has operations in over 100 countries, 96% of its production is sold
outside of its home country Sweden. Volkswagen AG (VLKAY) and Scania
jointly own the importing company Volkswagen Sverige, which markets Audi, Porche, Seat and
Skoda. In April 1996, the firm was listed on the stock exchange in Stockholm, Sweden and
New York. Volkswagen acquired a 34 per cent voting stake and 18.7 per cent capital stake in
Scania during March 2000. Investor AB holds 15.3 per cent voting rights and a
9.1 per cent capital stake in Scania. Rival truck-maker AB Volvo
(VOLVY) owns 30.6 per cent voting rights and a 45.5 per cent capital stake in
Volvo agreed in January 2001 with the Commission of European Union, when it completed the acquisition of the entire commercial truck business of Renault S.A. of France--including Mack Trucks Inc. of the United States--and awarded Renault an initial 19.9 per cent equity stake in Volvo, to shed its entire stake in Scania within three years.
In 2001, Scania embarked on a program to rationalize its global bus assembly business, to offset soaring overhead costs in the wake of a world-wide market decline in demand for buses, particularly in South America. Its bus body manufacturing operations were spun off into a separate firm.