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TRUCKMAKERS' NEWS WORLDWIDE
* USA - Volvo lays off fewer than expected in Maryland, Pennsylvania
Hagerstown,Md,USA -The Hagerstown Herald Mail/The Detroit News (Detroit,Mich) -July 18, 2007: -- Swedish heavy truck maker AB Volvo says it laid off fewer people in Maryland and Pennsylvania than it previously expected when it announced the job cuts last fall... In October, Volvo announced it would cut 600 jobs in Hagerstown, or nearly one-third of the plant's work force of 1,770, because of an imminent slump in the market. On Monday, spokesman James A. McNamara told that only 340 jobs had been cut at the Hagerstown plant, which makes engines and transmissions for Volvo and Mack trucks... The company also made fewer-than-expected cuts at its truck assembly plant in Macungie, Pa. About 340 of 1,040 jobs were eliminated there instead of the 450 the company forecast, spokesman John Walsh said... Walsh said the market slump was less severe than expected...
* Germany - MAN to Exceed 2007 Sales Target?
Nuerburg,Germany -Thomson Financial/ABC Money.co (UK) -8 July 2007: -- According to this report – which quotes the head of commercial vehicles unit Anton Weinmann - MAN AG is likely to exceed its current 2007 unit sales target of 96,000 vehicles, with sales of at least 97,000 trucks and buses...
* China - MAN Seeks Chinese Companion. Again.
China -The World Trucks Blog -13 July 2007: -- MAN is actively seeking a partner in China, and Weichai Power Co Ltd has emerged as a front-runner... The report suggests that any such partnership would seek an export licence, and also alludes to the nastiness that did much to mar MAN’s previous foray into the People’s Republic – namely some alleged naughtiness on the part of previous partner Zonda and some ripping off of bus designs... What, we wonder, does Force Motors make of all of this?...
* India - MAN Trucks hits speedbreaker on localization of components
Pune,Delhi,India -Livemint, by Sudha Menon -13 July 2007: -- MAN Force Trucks Pvt. Ltd, the €150 million (Rs835.5 crore) joint venture between Man AG, Europe’s third-largest truck maker and the Pune-based commercial vehicle manufacturer Force Motors Ltd, to make premium trucks in India, is facing production glitches with trouble over the localization of a few components... The company planned to export around 12,000 vehicles from this year but chairman Abhay Firodia said the company was not making “significant” numbers of trucks. Full localization before the start of this year, was a part of the plan... This is the second vehicle maker to report trouble over localization of components recently...
* India - Volvo working on common platform for trucks for Asian market
Mumbai,India -Thomson Financial/AFX News Limited/Forbes (NY,USA)/Hindu Business Line -13 July 2007: -- Volvo AB is planning a common platform for trucks produced for the Asian market and is eyeing the Indian market as a target for its Nissan range of trucks... Volvo is also considering importing 'completely knocked down' kits of its Volvo-Nissan trucks from Japan into India, and plans to export about 1,000 trucks from India in 2008...
* India - DCX Confirms CKD Plans for India, May Divest Tata Stake
Mumbai,India -The Times of India -16 July 2007: -- DaimlerChrysler is to produce CKD trucks in India. Moreover, it also makes reference to the likely future of DCX’s stake in Tata – around six per cent or so... DCX already has a stake in Eicher – held through Mitsubishi Fuso, and, as we reported earlier, Hyundai now appears to be circling the Indian minnow. Will DCX seek to cement its relationship with Eicher – vital for its Light Duty interests in India?...
* India - Hyundai Mulls Eicher Stake - This could get very amusing
Mumbai,India -The Times of India -14 July 2007: -- Hyundai is looking to take a piece of Indian OEM Eicher. Nothing strange there – everyone wants a piece of everyone these days. However, DaimlerChrysler is believed to be exploring ways of leveraging its 3.6 per cent piece of Eicher – held through Mitsubishi Fuso – with a view to entering the Indian Light Duty market... Not so long ago, DCX and Hyundai were best of friends. Then it all went horrible. And now, it looks like they’ll be seeing each other again. And so the world turns...
* Japan - Isuzu Denies It May Combine North American Production With Hino
Tokyo,Japan -Bloomberg, by Naoko Fujimura -July 13, 2007: -- Isuzu Motors Ltd, 5.9 per cent of which is owned by Toyota, has denied a report that it may combine its truck production in North America with Hino Motors Ltd... “It's not true that we are considering building trucks with Hino,'' Tadashi Ioka, a spokesman at Tokyo-based Isuzu, said in an interview... Toyota may press its Hino unit and Isuzu to combine truck- making operations in North America, the Wall Street Journal reported on its Web site yesterday, citing unidentified senior executives... Toyota owns a 50 percent stake in Hino, Japan's biggest maker of heavy-duty trucks. Isuzu is the second biggest...
* Russia - Kamaz executive Urmanov says co mulling London IPO in second quarter of 2008
Moscow,Russia -Thomson Financial/AFX News Limited/Forbes (NY,USA) /Interfax -12 July 2007: -- Kamaz Inc may launch its initial public offering (IPO) in the second quarter of next year on the London Stock Exchange (LSE), deputy strategic general director Ildar Urmanov told... Kamaz is planning to raise 300 mln usd through the IPO... Before then, the company will publish a financial report to International Financial Reporting Standards (IFRS) for the three previous years... The Russian government owns a 34.01 pct stake in the charter capital of Kamaz, about 30 pct in Kamaz-Capital and about 19.4 pct in the consortium of investors led by Troika Dialog...
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