Renault nears deal with Samsung and Volvo Trucks
PARIS - Renault Friday was near an agreement to buy the assets of Samsung Motors, the troubled Korean manufacturer. Renault is also expected, perhaps as soon as this week, to form an alliance with Volvo in the truck business.
A final range of talks took place in Paris last week between a Renault team and the representatives of Samsung's creditors.
Renault would buy Samsung Motors assets, including a state-of-the-art plant in Pusan with 1,600 employees and a production capacity of 240,000 cars a year, the commercial brand and a 50 dealers network in South Korea. Samsung had launched one model, the SM5, in 1998 based on the Nissan Maxima. Nissan Motor also engineered Samsung's Pusan plant. With Samsung, Renault targets a 10 to 15 percent of the Korean car market, which reached 1.2 million units last year. Stephane Farhi
Ford splits its marketing arm
Ford has reorganized its marketing functions across Europe into two major areas to reflect the growing importance of e-commerce. Andy Eggleston, previously vice president of marketing for Ford of Europe, will now be responsible for retail e-commerce, customer relationship marketing, consumer insight research and customer satisfaction strategy. Murat Yalman has been hired from Nissan North America to run Ford's vehicle brand management teams and product marketing communications. He will also work with product development vehicle line teams and national sales companies. Both men will report directly to Earl Hesterberg, vice president of marketing sales and service for Ford of Europe.