Volkswagen AG's truck and bus unit Traton AG said Dec. 20 that it will now operate under the name Traton SE.

Traton shareholders approved the change at the annual meeting on Dec. 14.

According to the announcement, the SE business form lets the unit gain a better global position because it offers employees from throughout Europe the possibility of co-determination and allows the company to integrate the regional companies within the Traton group.

The change will not result to structural and principle changes within Traton's production facilities and companies, Traton said.

The unit, which was originally called Volkswagen Truck & Bus GmbH, renamed itself Traton AG in August after it was converted into a German stock corporation.

The Traton group includes the vehicle brands MAN, Scania, Volkswagen Caminhões e Ônibus and RIO.