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TRUCKING BUSINESS AFFAIRS
* India - Vectra group leads buyout of Czech truck maker Tatra
Mumbai,India-The Hindustan Times, by Ranju Sarkar -Nov 2, 2006: -- Non-resident Indian entrepreneur Ravendrar Kumar Rishi's UK-based Vectra Group, teaming up with a clutch of private equity investors, has acquired an 80.5 per cent stake in Czech truck maker Tatra a.s. for $57.8 million in addition to Vectra's 11 percent acquired three years ago... Rishi's company has a 50-50 joint venture in India called Tatra Vectra Motors. Tatra a.s. makes heavy-duty trucks used in mining, construction and the military...
* USA - Trucking company posts record earnings
Tampa,FL,USA -Tampa Bay Business Journal -2 Nov 2006: -- Quality Distribution Inc. is rebounding from a weak 2005 in its third quarter financial statement... The Tampa-based transportation service company reported earnings of $38 million, or $1.94 a share, on revenue of $190 million compared with earnings of $50,000, or zero cents a share, on revenue of $170.6 million for the same period last year... The results were a record for any quarter, the company said in a release...
* Germany - MAN Profit Nearly Triples as Customers Replace Trucks
Germany -Bloomberg, by Chad Thomas -Nov. 2, 2006: -- MAN AG, the German truckmaker trying to take over Swedish competitor Scania AB, said third-quarter profit almost tripled as customers replaced aging vehicles and expanded their fleets... Net income increased to 321 million euros ($414 million), or 1.38 euros a share, from 114 million euros, or 62 cents, a year earlier, Chief Financial Officer Karlheinz Hornung said today during a conference call with journalists. Sales rose 18 percent to 3.3 billion euros...
* Sweden - Scania says MAN turns down place on key committee
STOCKHOLM,Sweden -Reuters -3 Nov 2006: -- Truck maker Scania said today that unwelcome suitor MAN had opted not to take the seat on Scania's nomination committee which its stake in the firm entitles it to have. The German truck maker has amassed a 14.54 percent stake in Scania, giving it the right to name a member to the nomination committee, the body that proposes candidates for Scania's board...
posted by Unknown @ 9:57 AM
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