1999 was an extraordinary year and the early part of 2000 has not been less eventful. We sold the passenger car business in the first quarter of 1999, made a bid for Scania in August and withdrew the bid in March 2000. We withdrew the bid because the European Union Commission prevented us from implementing the transaction.

Although the decision is a disappointment, our strategy remains firm. Through both organic growth and acquisitions, we want to achieve greater benefits of scale and broaden the range of products.

The key objective is to expand the industrial base in terms of both volume and expertise and thereby strengthen our customer offer – not only in the form of more products but also through combinations of different types of products, services and IT solutions.