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TRUCKS' MAKERS * WORLDWIDE
* India - Mahindra & Mahindra in JV with Navistar to produce diesel engines in
Mumbai,India -AFX News Limited/Thomson Financial/Forbes (NY,USA) -2 Nov 2007: -- India's Mahindra & Mahindra Ltd said it has signed a joint venture agreement with Navistar International Corp to produce diesel engines for medium and heavy commercial trucks and buses... In a filing to the Bombay Stock Exchange, it said both the companies will together invest 90 mln usd over five years in the proposed joint venture company -- Mahindra International Engines Ltd (MIEL)... M&M said it will hold 51 pct stake in MIEL while Navistar will hold the balance...
* Russia - Volvo to Trump Scania, MAN as East Europe Sales Soar Moscow,Russia -Bloomberg, by Chad Thomas and Maria Ermakova -Nov. 1, 2007: -- Eugene Shakalida, co-owner of a logistics company in Moscow, plans to almost triple his fleet of trucks over the next four years to ship more Russian steel pipes, wood and industrial glass to customers across Europe... The construction boom in eastern Europe that's boosting Shakalida's business also represents a jackpot for Volvo AB, the world's second-biggest truckmaker, and European rivals Scania AB and MAN AG. With share prices down 19 percent since July and signs that a North American sales slump is bottoming out, Volvo's stock may be poised for the biggest gains among the three as it predicts eastern Europe truck demand will double by 2010... (Photographer: Dmitry Beliakov/Bloomberg News - Eugene Shakalida, director general of Trasko Transport & Forwarding Company, Scania's largest customer in Russia, stands near one of his Scania trucks, in Moscow on May 31, 2007)
* UK - Iveco plans heavy truck pushLondon,UK -Road Transport -2 November 2007: -- Iveco UK boss Henk van Leuven has promised he will more than double the company's share of the heavy truck sector by 2011... The Stralis currently commands just 6% of the UK tractor market, but van Leuven says this will grow to at least 15% within the next four years. He also has ambitious plans for the Eurocargo and Daily ranges, which he says will expand from 25% to 30% and from 10% to 15% respectively within the same period... (Picture thanks to biglorryblog, at the RAIW Show Amsterdam: Iveco's diesel-electric hybrid EuroCargo 120 EC22 light middleweight)
* Germany - MAN AG sees diesel engine growth rate sustainableFrankfurt,Germany -Reuters -Oct 31, 2007: -- German industrial conglomerate MAN AG expects the current growth rate in its diesel engine division to be sustainable, but expects growth in its smaller turbo machines business to slow down slightly... A jump in profit at its diesel engine division played a key role in MAN beating third-quarter earnings estimates... Chief Executive Hakan Samuelsson told analysts he had met with Scania CEO Leif Ostling in Tokyo last week as part of a conference attended by other truckmakers, but declined further comment... (Photographer: Guido Krzikowski/Bloomberg News - A MAN truck is reflected in another's grille at the MAN AG factory in Munich, Germany, on Monday, Oct. 29, 2007. MAN AG, Europe's third-largest truckmaker, said profit fell for the first time in four years following a gain in 2006 from the printing-press unit's disposal)
Labels: truckmakers news worldwide
posted by Unknown @ 11:51 AM
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