Tata will keep Iveco’s industrial footprint, employees after acquisition, Iveco CEO says

ROME: India’s Tata Motors has committed to maintaining Iveco’s “industrial footprint and employee communities” after agreeing to buy its trucks and bus business, the Italian truck maker’s Chief Executive Olof Persson said on Thursday.

Iveco employs around 36,000 people, including 14,000 in Italy.

Persson said that given the complementarity of the two groups the integration process after the acquisition would be “smooth and successful”.

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He added that the deal with Tata, along with the sale of the IDV defence unit to Italy’s Leonardo, would “unlock superior growth opportunities and create significant value for all stakeholders”.