Andreas Renschler
The head of the truck subsidiary Traton wants to drive forward the international expansion and bring the division on the stock market in the future.
(Photo: Bloomberg)
MunichAndreas Renschler is more of a relaxed person. He has been working in the automotive industry for decades, initially Daimler and now at Volkswagen, As the boss of VW-Nutzfahrzeugsparte Traton (Scania, MAN, VW Bus) he pursues the dream to bring the business to the stock market with an annual turnover of 26 billion euros.
The team for Renschler had completed the preparations for the spin-off of Volkswagen – However, a few days before going to the capital market, the parent company’s executive board temporarily blew the plan. Allegedly because the market environment is too volatile.
Since then, the frustration sits in the Munich headquarters of Traton deep. In a letter to the staff Renschler now tries to lift the mood. A core message is: Traton will stick to its strategy after the canceled IPO.
“We have grown as a company, and we are in the midst of implementing our strategy, with which we want to become a global champion,” Renschler writes. The letter is available to Handelsblatt. Traton did not comment.
Current club events
Wednesday, 13.03.19, 09:30 Berlin: Handelsblatt Annual Conference “Regional Banks”
Tuesday, 19.03.19, 09:00 Berlin: Digital Leader Camp
Wednesday, 20.03.19, 10:00 Düsseldorf: Handelsblatt Annual Conference “Future Steel”
Thursday, 21.03.19, 09:30 Frankfurt am Main: Handelsblatt Annual Meeting “Retail Banking”
Monday, 25.03.19, 18:30 Nuremberg: Investment Live
Tuesday, 02.04.19, 10:00 Berlin: Handelsblatt annual conference “Company pension scheme”
Renschler referred to the entry into the American truck manufacturer Navistar and the cooperation with the Japanese Hino Group. Traton had expanded beyond its traditional markets of Europe and Latin America.
Comment: VW is wrong with the postponement of Traton’s IPO
After an IPO Renschler wanted to increase the pace to become the world leader Daimler catch up. According to reports, a majority takeover of Navistar was planned as well as an expansion of business in China. As a standalone company, Traton could have fetched more money from the capital market.
Although this path is now closed, Renschler sticks to its expansion strategy. He referred to a meeting with analysts and potential investors in the staff letter. The response was positive. This is “proof that we are strategically on the right track,” explained Renschler.
He still considers the IPO possible. “Remember, it’s just a no for now.”
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