MAN plant in Steyr: takeover plan is presented

The company headquarters of the truck manufacturer in Munich wants to sell to ex-Magna boss Siegfried Wolf. After Easter, the workforce will vote on the offer in a secret ballot.

Investor Siegfried Wolf will present his takeover plan to the workforce at the MAN plant in Steyr today, Friday afternoon. The company headquarters of the truck manufacturer in Munich wants to sell to the ex-Magna boss, otherwise the location should be closed in 2023. CEO Andreas Tostmann also takes part in the works meeting. Wolf wants to continue MAN under the Steyr brand, but only take over around 1250 of the current 1845 permanent workforce.

After Easter, the workforce will vote on the offer in a secret ballot. So far, the works council has had concerns about economic sanctions, primarily because of Wolf’s business ties with Russia. In addition, there is a maximum of 15 percent reduction in net income in the event of a takeover.

(WHAT)

Read original article here

Leave a Comment