TRUCKMAKERS' NEWS WORLDWIDE
* Sweden - Market body says VW can up Scania stake
Stockholm,Sweden - Reuters -Sep 28, 2007: -- Sweden's securities council said on Friday it has given German auto giant Volkswagen permission to raise its stake in truck maker Scania without needing to make a bid for the whole firm... The council said a law firm had submitted a request on behalf of Volkswagen, the biggest owner of both Scania and German rival MAN, to be allowed to buy more shares in the Swedish truck maker without triggering a compulsory bid... Volkswagen, which owns 36.4 percent of Scania's voting rights and 20 percent of its capital, already has permission to own as much as 49.99 percent of the voting rights without making a bid, the council added in a statement...
* Sweden - Volvo Trucks suffers sales fall, especially in the US
* USA - Cummins to build engines in Vietnam
Columbus,Ind,USA -AP/wlfi/News Channel 18 -September 29, 2007: -- Cummins Incorporated and a Vietnamese partner have agreed to collaborate on a joint venture to make diesel engines for highway use in the Southeast Asian nation... Cummins Chairman Tim Solso and a representative of the state-owned Vietnam Motors Industry Corporation signed the agreement Friday in New York... The company did say the venture first will assemble imported engine kits and later include locally made components as supplies become available... About half of Cummins' sales occur outside the U.S...
* Canada - Truck maker Paccar of Canada Ltd. to lay off 250 at Quebec plant
Labels: truckmakers' news