Swedish truckmaker Scania said on Tuesday it had appealed against an 880 million euro ($1.03 billion) fine imposed by the European Commission for alleged price-fixing and attempts to dodge costs for stricter pollution rules.
Volkswagen, Europe's biggest carmaker, was set to take full control of Swedish truck manufacturer Scania on Tuesday after a small but crucial shareholder agreed to sell its shares.
Volkswagen said on Friday that it would not increase its purchase bid for truck manufacturers Scania after the Swedish group dismissed the initial offer.
German auto maker Volkswagen has promised trade unions at Scania to keep the company's assembly line in Sweden if its takeover bid is successful, newspaper Dagens Arbete reported on Wednesday.
The board of Swedish truck giant Scania has turned down a $9.2 billion takeover bid from Volkswagen telling members that their shares are worth more and not to sell up to the German manufacturer.
Two top Scania bosses made substantial shares purchases in the Swedish truck making company three weeks before majority owner Volkswagen made its take-over bid.
The independent committee looking at Volkswagen's take-over bid of Swedish truck giant Scania began its work on Tuesday, stating promises that headquarters would remain in Sweden were paramount.
The proposed sale of Swedish truck giant Scania to Volkswagen is hanging in the balance after two of the company's owners said they were unwilling to sell their shares to the German manufacturer.
Swedish truck manufacturer Scania announced on Friday that it would step up production to meet demand in Europe, after a decline in profits in the second quarter.
Swedish truck maker Scania reported on Wednesday a one-third plunge in net profit for 2012 and a cut in current production, but said that orders had risen in the fourth quarter.
Two former managers of truck maker Scania were on Wednesday indicted on charges of violating the UN sanctions against Saddam Husseins's regime in Iraq, the Swedish Ministry for Justice said Wednesday.
Swedish heavy-truck maker Scania has appointed Martin Lundstedt as new president and chief executive officer to replace Leif Östling on September 1st, the company said Saturday.
The Swedish heavy-truck maker Scania, one of the brands owned by Volkswagen, said Tuesday that its first-quarter profit fell by 28 percent owing to weaker demand and high development costs.
Two former Swedish executives with Volvo's construction equipment subsidiary were convicted on Tuesday for paying bribes to the regime of Saddam Hussein to bypass restrictions related to the United Nations’ Oil-for-Food Programme.
Swedish truckmaker Scania on Monday announced a cut in production by up to 15 percent starting next month due to lower demand caused by a global economic slowdown.
Scania CEO Leif Östling has reported Sweden's top anti-corruption prosecutor for violating confidentiality rules in connection with his investigation into the Swedish truckmaker's alleged skirting of UN sanctions in Iraq.
Scania, a major Swedish automotive manufacturer of commercial vehicles such as heavy trucks and buses, has established a sales and service company in Japan, signalling changes with their alliance to Japanese truck and bus manufacturer Hino.
Swedish truck maker Scania announced on Monday that it had signed a contract to supply 4,000 vehicles to Iraq over the next five years in a deal worth $470 million.
