MAN Diesel & Turbo is now once again being linked to the comprehensive scandal at German industry icon Volkswagen, which is struggling with lawsuits, financial compensations and severe image issues in the wake of the Diesel-gate scandal.
German business media Handelsblatt projects that the fraudulent practice related to the CO2 emissions from Volkswagen cars could become so costly for the company that it will be forced to sell of the marine division of MAN Diesel & Turbo in order to raise the upwards of euro 4-5 billion that the unit is estimated to fetch. Volkswagen originally acquired MAN due to an interest in the truck division, and the transaction included the marine business. As such, notes Handelsblatt, a divestment of this unit in particular would make sense if the group is forced to raise additional capital while not wishing to make cuts to the core business of cars and trucks.
Already a subscriber? Log in.
Read the whole article
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.