Those figures were converted from euros as the company officially reported that it saw sales revenues of €22.6 billion in 2020 and €30.6 billion in 2021. That growth was driven by its service and truck business, and the integration of Navistar, said Traton officials said in a statement this week.
Navistar is a major employer in Clark County and has long history in the area. It currently employs more than 1,000 people at its Springfield facility that builds medium-duty trucks as well as cutaway vans for General Motors.
In 2020, Traton said it was looking at acquiring Navistar by purchasing the remaining shares of the truck manufacturer. At the time, Volkswagen had a 16.8% stake in Navistar.
Stockholders of Navistar approved a proposal by Traton in March 2021 to acquire all of the outstanding common shares of Navistar at a price of $44.50 per share in cash or $3.7 billion in total.
Representatives of Navistar said during the acquisition process that the merger would accelerate Navistar’s growth, providing it with access to new technologies, products and services while taking advantage of Traton’s global scale.
Mike McDorman, the president and CEO of the Greater Springfield Partnership, previously said regarding the acquisition: “We want (the Springfield plant) to continue to be here and to grow here. That is what we told Navistar and that is what we will tell anyone who takes over this operation.”
In terms of Traton’s overall performance during the fiscal year 2021, it’s CEO Christian Levin said that they were able to manage challenges well related to global supply chain issues.
“Our order book has never been so full thanks to the 360,000 orders we received in 2021. However, our clear goal is to make sure all customers receive their vehicles as quickly as possible,” Levin said.
Annette Danielski, the CFO of the Traton Group, said that they are expecting truck unit sales and sale revenues to increase in 2022.
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