Scania’s main union welcomes VW deal

Scania's main workers union said Monday it was pleased German car maker Volkswagen had taken control of the Swedish truck maker following an agreement announced on Monday,

“Volkswagen is a good, long-term industrial owner. We are therefore not concerned about the new ownership conditions,” the IF Metall workers’ union said in a statement.

“The important thing for us is that Scania be able to continue as an independent company, with its own technological development and its own headquarters,” it added.

Swedish Prime Minister Fredrik Reinfeldt also said he was happy the group would keep its headquarters and research and development in Sweden.

“Volkswagen has shown that it believes in Scania … They are willing to maintain the brand, the research and development, and the management here in Sweden,” he told Swedish news agency TT.

Reinfeldt also stressed that it was important for Sweden to maintain a strong climate for research and development and business development in the industrial sector.

Volkswagen announced earlier Monday that it had won control of Scania.

It owns 68.60 percent of the voting rights and 37.73 percent of the capital of the truck-maker after buying shares from the Wallenberg family for €2.9 billion ($4.4 billion).