Volvo Bids $1B For Nissan Diesel
AB Volvo, the Swedish truck manufacturer, bids $1.07 billion Tuesday to acquire Japan’s Nissan Diesel to establish a solid presence in Asia.
The bid was the latest attempt of the automaker to bolster its global presence. The said attempt would vest Volvo a full ownership of Nissan Diesel from the recent 19 percent to realize Volvo’s ambitions in Asia, where the automaker is lacking a local brand. Volvo has Mack Trucks in the United States and Renault Trucks in Europe hence; short of support in Asia.
Analysts say that the Volvo Cars division is doing just fine. It has earlier launched fresh vehicles that radiate new design philosophy. They boast of EBC Greenstuff, body parts, advanced amenities and safety features.
AB Volvo is the second largest truck maker around the globe next to Daimler Chrysler AG of Germany. On the other hand, Nissan Diesel is the fourth largest truck maker in Japan. To acquire Nissan Diesel could be the key for the much-awaited dominance in the auto truck market.
Volvo said it estimates Nissan Diesel’s net interest-bearing debt at $1.07 billion, bringing the total cost of its planned acquisition of the Japanese truck maker to 15 billion kronor, or $2.14 billion. Iwao Nakamura, president of Nissan Diesel Motor Co. said the move will save costs in development and purchasing, including emission-reducing technologies, and present opportunities for efficient investments for long-term growth. “What we want the most is growth,” he told reporters at a Tokyo hotel. “This move is the most effective way to achieve growth.”
Chief Executive Leif Johansson said Volvo sped up the takeover plans to prepare for tougher emissions standards being introduced in Japan in 2010. “It’s important to do this deal now and not in few years,” Johansson told reporters in Stockholm. “We have some very important emission standards coming up and in the short term we can share R&D on that.”
Analysts also expressed positive comments regarding the deal. They said it would help Volvo gain a foothold in Asia. “By doing it now, the company can also avoid the risk of sharing strategic clean-engine technology with a possible competitor,” said Danske Bank analyst Henrik Breum. “You need to act now to be ready,” he said. “It is too dangerous to provide such research and development in shared efforts.”
The 540 yen ($4.52) cash per share offer represents the premium of 32 percent. Said amount is based on Nissan Diesel’s average share price in the past three months. According to Nissan Diesel, its shared rose 18 percent in Tokyo to a bid-only 523 yen ($4.37), up from its Monday’s close at 443 yen ($3.71). Consequently, Volvo shares were up 2 percent at 560 kronor ($79.70) in early trading after finished up 0.18 percent at 549 kronor ($59.40) in Stockholm a day earlier when news of the bid first broke.
Jorma Halonen, Executive Vice President of Volvo Group, said that Nissan Diesel would retain its name and that management will stay Japanese. Volvo is aiming for 20 percent to 25 percent market share in Asia, about the same share the group controls in the U.S. and Europe, Halonen said in Tokyo, without giving a target date.
Nissan Diesel’s strengths in Asia, including Thailand and Indonesia, are a good complement for Volvo, Halonen said. He said 100 percent ownership will help quicken decision-making, likely to prove critical in keeping abreast of upcoming more stringent emission requirements around the world. Volvo added if approved by antitrust authorities, the deal would be completed by March 29.
“During our joint synergy study, great trust grew between the companies and I believe that the merger is the best alternative for Nissan Diesel’s future,” Nakamura concluded.Anthony Fontanelle is a 35-year-old automotive buff who grew up in the Windy City. He does freelance work for an automotive magazine when he is not busy customizing cars in his shop. VisitEBC greenstufffor more info.
Article Source: http://www.simplysearch4it.com/article/52029.html
|
|
4 Tickets Kathy Griffin 6/2/12 Hard Rock Live At The Seminole Hard Rock Hotel & $742.00 |
|
|
2 Tickets Joe Bonamassa 12/13/12 Hard Rock Live At The Seminole Hard Rock Hotel $636.00 |
|
|
2 Tickets Joe Bonamassa 12/13/12 Hard Rock Live At The Seminole Hard Rock Hotel $633.88 |
|
|
4 TIX Joe Bonamassa 12/13 Hard Rock Live At The Seminole Hard Rock Hotel & $477.00 |
|
|
2 Tickets Beach Boys 5/4/12 Hard Rock Live At The Seminole Hard Rock Hotel & Cas $447.32 |
|
|
2 Tickets Kathy Griffin 6/2/12 Hard Rock Live At The Seminole Hard Rock Hotel & $402.80 |
|
|
2 Tickets Kathy Griffin 6/2/12 Hard Rock Live At The Seminole Hard Rock Hotel & $392.20 |
|
|
2 Tickets Beach Boys 5/4/12 Hard Rock Live At The Seminole Hard Rock Hotel & Cas $389.08 |
|
|
2 TIX Joe Bonamassa 12/13 Hard Rock Live At The Seminole Hard Rock Hotel & $387.00 |
|
|
2 Tickets Joe Bonamassa Hard Rock Live At The Seminole Hard Rock Hotel & Casino $372.00 |
|
|
2 Tickets Kathy Griffin 6/2/12 Hard Rock Live At The Seminole Hard Rock Hotel & $358.28 |
|
|
Hotel Living Green Stripe King Bed 1200TC Sheet Set New $126.35 |
|
|
EAGLES HITS HOTEL LIVE JAPAN REPLICA OBI SEALED CDSET $224.99 |
|
|
Hotel Living Cream King Bed 1000TC Sheet Set New $106.91 |
|
|
2 TIX Kathy Griffin 6/2 Hard Rock Live At The Seminole Hard Rock Hotel & Casino $205.00 |
|
|
Shamrock Hotel Houston Historic Live Radio Broadcasts – Dorsey, Marx Bros, More $200.00 |
|
|
1-6 TIX Kenny Loggins 5/27 Hard Rock Live At The Seminole Hard Rock Hotel & $171.50 |
|
|
Hotel Living Bazaar Blue Queen Bed Quilt Cover Set New $58.31 |
|
|
Hotel Living Fawn Coloured King Bed 250 Thread Count Sheet Set New $43.74 |
|
|
Hotel Living Light Blue King Bed 250 Thread Count Sheet Set New $43.74 |
|
|
1-6 TIX Joe Bonamassa 12/13 Hard Rock Live At The Seminole Hard Rock Hotel & $122.50 |
|
|
Hotel Living Blue Stripe Queen Bed 250 Thread Count Sheet Set New $38.88 |
|
|
Hotel Living Faux Fur Wolf Skin Print Throw Rug New $38.88 |
|
|
Hotel Living Cream King Single Bed 250 Thread Count Sheet Set New $34.02 |
|
|
Hotel Living Olive King Single Bed 250 Thread Count Sheet Set New $34.02 |
|
|
1-8 TIX Boston 6/28 Hard Rock Live At The Seminole Hard Rock Hotel & Casino - $91.00 |
|
|
S.O.S. FEVER ” LIVE AT THE WAIKIKI OUTRIGGER HOTEL” $99.99 |
|
|
Hotel Living Faux Fur Chocolate Brown Channel Throw Rug New $29.16 |
|
|
Hotel Living Faux Fur Angora Channel Throw Rug New $29.16 |
|
|
SOS FEVER live at the waikiki outrigger hotel LP Record SEALED RARE MS5001 $98.99 |
|
|
1-6 TIX Kathy Griffin 6/2 Hard Rock Live At The Seminole Hard Rock Hotel & $102.50 |
|
|
Hotel Living Faux Fur Teal Channel Throw Rug New $29.16 |
|
|
Hotel Living Faux Fur Steel Grey Channel Throw Rug New $29.16 |
|
|
Hotel Living Faux Fur Berry Red Channel Throw Rug New $29.16 |
|
|
Hotel Living Faux Fur Black Channel Throw Rug New $29.16 |
|
|
Hotel Living Faux Fur Deep Purple Channel Throw Rug New $29.16 |
|
|
Hotel Suwanee Supper Menu Live Oak Florida 1928 $100.00 |
|
|
Hotel Living Pink Rosette Throw Rug & Cushion Set New $38.88 |
|
|
Hotel Living Acorn Rosette Throw Rug & Cushion Set New $38.88 |
|
|
Hotel Living Faux Fur Walnut Channel Throw Rug New $24.30 |
|
|
Hipsley, Benny At The Desert Hotel Live LP Gateway GLP9 $74.65 |
|
|
EAGLES – FOUR 8 Track Tapes HOTEL CALIF LONG RUN ONE OF THESE NIGHTS & LIVE Fans $80.00 |
|
|
Hotel Living White Faux Fur Shaggy Throw Rug New $29.16 |
|
|
Hotel Living Steel Grey Faux Fur Shaggy Throw Rug New $29.16 |
|
|
Hotel Living Moscatto Red Faux Fur Shaggy Throw Rug New $29.16 |
|
|
Vinyl Record LP Eagles Live Double Hotel California $79.99 |
|
|
Hotel Living Grape Ribbed Microfibre Throw Rug New $29.16 |
|
|
Hotel Living Walnut Ribbed Microfibre Warm Throw Rug New $29.16 |
|
|
Hotel Living Brown Biscuit Faux Fur Shaggy Throw Rug New $24.30 |
|
|
Hotel Living Latte Faux Fur Shaggy Pile Throw Rug New $24.30 |
|
|
Get off the ground opening gifts home hotel living room Decorations horse $69.99 |
|
|
Ethel Merman In Vegas Reprise Record 1961 R-6062 Live Flamingo Hotel NM/NM $59.00 |
|
|
Hotel Living Green Stripe Jacquard Tablecloth 8-10 Seat New $19.43 |
|
|
Hotel Living Floral Jacquard Tablecloth 10-12 Seat New $19.43 |
|
|
Hotel Living Green Stripe Jacquard Tablecloth 4-6 Seat New $19.43 |
|
|
THE PRETTY THINGS – RARE ‘LIVE AT THE HEARTBREAK HOTEL’ LP BIG BEAT 1984 $51.86 |
|
|
NEW HOTEL LIVING 5 STAR LUXURY HOME 2 STANDARD EMBROIDERED SHAMS 300 TC COTTON $59.99 |
|
|
Hard Rock Cafe Live & Hotel ORLANDO 2008 HALLOWEEN 3 PINS Dracula Wolfman Zombie $59.99 |
|
|
Hard Rock Cafe Live & Hotel ORLANDO 2009 HALLOWEEN 3 PINS Scary Series! $59.99 |
|
|
Hotel Living Light Blue Jacquard Tablecloth 8-10 Seat New $19.43 |
|
|
Hotel Living Floral Jacquard Tablecloth 6-8 Seat New $19.43 |
|
|
Hotel Living Burgundy Jacquard Tablecloth 6-8 Seat New $19.43 |
|
|
Hotel Living Floral Jacquard Tablecloth 8-10 Seat New $19.43 |
|
|
Hotel Living Wine Jacquard Tablecloth 6-8 Seat New $19.43 |
|
|
MATT BARRANTI BAND LIVE AT THE BAY COUNTY HOTEL CD $55.00 |
|
|
Long live the Intl. Hotel (SF) orig. 1977 political poster for March and Rally $56.00 |
|
|
Hotel Living White Jacquard Tablecloth 4-6 Seat Marked $14.58 |
|
|
Hotel Living Faux Fur Fox Skin 45cm x 45cm Cushion New $14.58 |
|
|
Hard Rock Cafe Live & Hotel ORLANDO 2011 CHRISTMAS 3 PINS Holiday Winter Parade! $49.99 |
|
|
Hard Rock Cafe Live & Hotel ORLANDO 2008 CHRISTMAS 3 PINS Holiday Parade SET! $49.99 |
|
|
Hard Rock Cafe Live & Hotel ORLANDO 2009 CHRISTMAS 3 PINS Parade Balloons Mint! $49.99 |
|
|
Hotel Living Faux Fur Black 45cm x 45cm Cushion New $14.58 |
|
|
Moby: Live – Hotel Tour 2005, DVD, , $51.01 |
|
|
TOKIO HOTEL Humanoid City Live (2010) DVD w/OBI RARE $49.79 |
|
|
Pure hand-painted oil painting home modern hotel paintings in the living room $49.35 |
|
|
JEFF MANGUM Live At Jittery Joes LP NEUTRAL MILK HOTEL $44.99 |
|
|
Hard Rock Cafe Orlando 2009 Scary Series Set from Cafe, Hotel, and Live $44.99 |
|
|
1926 Print Great Hall Feudal England Living Room Hotel des Artistes New York $44.95 |
|
|
Hard Rock Cafe Live & Hotel ORLANDO 3 Logo PINS Box Set $39.99 |
|
|
1942 Ad World War II Plan Duration Living Waldorf Astoria Hotel Park Ave WWII $41.95 |
|
|
Hard Rock Cafe Orlando Classic Logo 3 Pin Set Cafe – Hotel – Live $44.99 |
|
|
TOKIO HOTEL HUMANOID CITY LIVE (NEW DELUXE CD/DVD SET) $32.35 |
|
|
Tokio Hotel *NEW BLANKET;SHIRT;2 MAXI CDs, LIVE DVD;PHOTOS;POSTERS+MORE!!!! $25.49 |
|
|
ELVIS International Hotel LP + Obi Gatefold Japan Live $39.99 |
|
|
1933 Ad Waldorf-Astoria Hotels Living Room Apartment – ORIGINAL ADVERTISING $38.95 |
|
|
1932 Ad Hotel Pierre Lodging New York Suite Living Room – ORIGINAL ADVERTISING $38.95 |
|
|
1933 Ad Waldorf-Astoria Hotels Living Room Apartment – ORIGINAL ADVERTISING $38.95 |
|
|
1907 Print Exchange Hotel Santa Fe New Mexico Kinsell Live Stock Meat Market $38.95 |
|
|
Ayumi Hamasaki COUNTDOWN Live 2011 ~ 2012 HOTEL Love Songs DVD dvd1 $33.24 |
|
|
TOKIO HOTEL – HUMANOID CITY LIVE NEW CD $27.63 |
|
|
1900 Print Hotel Miyanoshita Ornate Living Housing Japan Japanese Asia Travel $35.95 |
|
|
TOKIO HOTEL – HUMANOID CITY LIVE NEW CD $27.30 |
|
|
TOKIO HOTEL Humanoid City Live 2010 Taiwan CD+DVD New $38.99 |
|
|
TOKIO HOTEL Humanoid City Live (2010) CD w/OBI RARE $37.79 |
|
|
Engelbert Humperdinck Live At The Riviera Hotel LP London XPAS 71051 SEALED $31.99 |
|
|
K2HD EAGLES Hell Freezes Over K2 HD Japan CD Audiophile NEW & SEALED hotel live $29.77 |
|
|
POWDERFINGER Dream Days At The Hotel Existence AUSSIE CD & LIVE DVD 2008 $24.29 |
|
|
BENNY GOODMAN Hotel Sherman Live 1941 Cootie Williams Mel Powell LP $29.97 |
|
|
Hard Rock Cafe Live & Hotel Orlando 2012 6th Pins Gone Wild – 3 PINS Sexy Girls! $29.99 |
|
|
THIRSTY MOON LUNAR ORBIT LIVE AT STAGGE’S HOTEL CD $20.74 |
