Scania Takes Over Operations in Latvia.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--March 8, 2000 Scania Acquires Auto Skan SIA Sia (sī`ə) or Siaha (sī`əhə), in the Bible, family returned from the Exile. SIA - Serial Interface Adaptor in Riga As part of its ongoing policy of expansion in the Baltic region For other uses, see Baltic (disambiguation). The Baltic region is an ambiguous term that refers to slightly different combinations of countries in the general area surrounding the Baltic Sea. , Scania has acquired its Latvian distributor Auto Skan SIA from G. Persson Gruppen AB of Uppsala, Sweden. The company's Latvian operations are handled through recently-founded Scania Trade Development. This acquisition enhances Scania's position on the Latvian market: "The markets in the Baltic States Baltic states, the countries of Estonia, Latvia, and Lithuania, bordering on the eastern coast of the Baltic Sea. Formed in 1918, they remained independent republics until their involuntary incorporation in 1940 into the USSR. They regained their independence in Sept. are a vital part of our local operations. During the 1990s, the various distributors there gradually boosted Scania's presence by extending both the dealer network and, not least, service facilities in all three Baltic countries," says Anders Spare, Managing Director of Scania Trade Development. Last year, G. Persson Gruppen AB inaugurated an entirely new distributor facility in Riga via its subsidiary Auto Skan SIA - an investment of 28 million kronor. Apart from Auto Skan, G. Persson Gruppen AB operates dealership companies for Scania, Volkswagen, Audi, Skoda and Seat in Uppsala "By bringing operations in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. , we are emphasising Scania's firm intention to continue focusing on these markets," says Anders Spare. Ervins Arents, who stays on as Managing Director of Auto Skan, comments on the latest developments: "We are firmly convinced that our customers will appreciate Scania's increased involvement in and dedication to Latvia." Scania currently has a market share of about 20 per cent in Latvia, where the total market in 1999 amounted to about 200 heavy vehicles. Auto Skan SIA started operating in Latvia in 1993. In addition to the main facility in Riga, the company operates contract workshops in Daugavpils and Valmiera. Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. With 25,800 employees and production facilities in Europe and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , Scania is one of the most profitable companies in its sector. In 1999, turnover totalled SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 47,100 million and income after financial items SEK 4,500 million. Scania products are marketed in about 100 countries worldwide and some 95 percent of Scania's vehicles are sold outside Sweden. Scania press releases are available on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the , www.scania.com. Please visit http://www.bit.se for further information The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/03/08/20000308BIT00830/bit0001.pdf http://www.bit.se/bitonline/2000/03/08/20000308BIT00830/bit0002.doc |
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