# Commercial Vehicles

## Highlights of the year

During 1999, Iveco continued to implement a strategy designed to foster its international expansion and strengthen the value chain by offering customers a comprehensive range of services.

In December 1999, it acquired a controlling interest in the Frakin Group, the unchallenged leader in the French market for long-term leasing of commercial vehicles and an established provider of rental and fleet management services.

![Image of a truck](image_of_truck.jpg)

In Scania, a recently established 50-50 joint venture with Renault, continued to grow, taking over Ikarus, a Hungarian bus manufacturer.

Capital investment programs carried out during 1999 were focused primarily on the startup of facilities that will manufacture Iveco engines and the development of a new factory for the production of Daily and Ducato commercial vehicles, which the Sector is building through a joint venture with Fiat Auto, at Sete Lagoas, in the Brazilian state of Minas Gerais.