Sweden--August 28, 2013: Regulatory News:
The Board of Directors of Scania (STO:SCVA)(STO:SCVB) adopted on 25 July 2008 a policy pertaining to the cooperation within the Volkswagen Group to ensure that all corporate benefit issues with related parties are handled in accordance with the arms-length principle. The Board of Directors is continuously reviewing this policy.
The Board of Directors has taken note of the Management Information letter on 26 August 2013 where the President and CEO of Scania reminded the Scania organisation of this policy. The Board of Directors expresses its support of the content of the letter.
As stated at Scania's 2013 Annual General Meeting (AGM), the handling of any conflict of interest, related to decisions by the Board of Directors of Scania concerning the cooperation within the VW Group during the 2013 financial year, will be commented at the AGM 2014.
Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. Service-related products account for a growing proportion of the company's operations, assuring Scania customers of cost-effective transport solutions and maximum uptime Scania also offers financial services. Employing some 38,600 people, the company operates in about 100 countries. Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2012, net sales totalled SEK 79.6 billion and net income amounted to SEK 6.6 billion.