Are you sure?

Iveco seeking partners in Eastern Europe and North America

In a move aimed at expanding its market presence in North America and Eastern Europe, Italia's Iveco is considering establishing new joint ventures in both regions in 2008, Reuters has reported.

„We may consider a partial alliance next year in North America,” Paolo Monferino, CEO of Iveco, told Reuters, adding that he was in no hurry to ink a deal. According to Monferino, the company is also interested in forming partnerships in Russia and Central and Eastern Europe. The company is evaluating all options to form partnerships in countries such as Poland, Bulgaria, Romania and Russia. He added that the company is negotiating with other truck manufacturers for acquisitions in these countries.

Iveco is one of the market leaders for light- and medium-sized trucks in Europe. But it trails Volvo and other manufacturers in the heavy trucks segment, the newswire notes. (automotiveworld.com)