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TRUCKS' BUSINESS AFFAIRS
* Germany - VW plans MAN stake rise in Scania power game
Duesseldorf,Germany -Reuters/Automotive News -Oct 27, 2006: -- Volkswagen plans to raise its stake in German truck maker MAN above 25 percent, the automaker said today, upping pressure on MAN to strike a friendly takeover deal with Scania... Europe's biggest carmaker has informed Germany's Federal Cartel Office that it plans to raise its minority stake in MAN above one-quarte.r,, a Volkswagen spokesman said... The agency earlier said VW had filed plans to increase its stake as high as 30 percent from 15.1 percent now...
* USA - PACCAR Surges to Record Revenue and Profits - Strong Growth in Financial Services and European Operations
Bellevue,Wash.,USA -Business Wire -24 Oct 2006: -- “PACCAR Inc., achieved record revenues and net income for the third quarter and first nine months of 2006,” said Mark C. Pigott, chairman and chief executive officer... “PACCAR’s balanced global diversification, complemented by steady GDP growth, successful new truck model introductions and double-digit revenue increases in the company’s finance and aftermarket parts businesses, contributed to excellent operating performance”...
* Sweden - Volvo Q3 tops forecasts, sees U.S. market fall
Stockholm,SWE -Reuters -24 Oct 2006: -- Truck maker Volvo posted a smaller-than-expected drop in third-quarter pretax profit on Tuesday and said key markets would be at the top end of its forecasts this year, but predicted a sharp downturn in North America in 2007... The Sweden-based firm, the world's second-largest truck maker, said pretax earnings fell to 3.14 billion crowns ($428 million) from 4.02 billion a year ago, ahead of the mean forecast of 2.96 billion in a Reuters poll of 17 analysts...
* Germany - DaimlerChrysler Q3 beats forecasts; strong Mercedes, trucks offset weak Chrysler
Stuttgart,Germany -AFX/Forbes -25 Oct 2006: -- DaimlerChrysler AG posted third quarter profits well ahead of forecasts, as strength at the company's Mercedes and truck businesses more than offset steep losses at Chrysler. Third quarter operating profits slid to 892 mln eur from 1.838 bln for the same period last year, but the figure was well ahead of the 591.2 mln eur forecast made by analysts...
* USA - Stoneridge Reports Third-Quarter 2006 Results
Warren,OH,USA -PRNewswire-FirstCall -27 Oct 2006: -- Stoneridge, Inc., today announced net sales of $172.4 million and net income of $4.4 million, or $0.19 per diluted share, for the third quarter ended September 30, 2006... Stoneridge Inc., is a leading independent designer and manufacturer of highly engineered electrical and electronic components, modules and systems principally for the automotive, medium- and heavy-duty truck, agricultural and off-highway vehicle markets...
posted by Unknown @ 11:07 AM
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