The German company Traton, a subsidiary of Volkswagen, which combines the production and sale of trucks and buses under the MAN and Scania brands, is leaving Russia.
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It is claimed that all of the company’s assets in the Russian Federation will be sold to local entrepreneurs. The distribution companies will be transferred to Russian partners, Scania is also selling its financial assets. These agreements must be approved by the shareholders of Traton. The conclusion of the sales process is expected in the first quarter of 2023.
In early March, the company stopped truck production in Russia. Traton estimated the total damage resulting from exiting the Russian market to be € 550 million.
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