MAN To Exceed Cost Cutting Target, Denies VW Takeover

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News: German automaker MAN's commercial vehicle division is likely to surpass its cost cutting target in 2009, its chief executive Anton Weinmann has stated. He also denied speculation over takeover of MAN by Volkswagen (VW). VW owns a 29.2% stake in MAN and is planning to form an alliance between its own light commercial vehicles unit, its Swedish truck brand Scania and MAN.