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TRUCKMAKERS' NEWS * USA
* Cummins, Fiat end joint diesel engine venture
Cummins Inc. and units of Italy’s Fiat Group SpA said Friday they will end their diesel engine joint venture, European Engine Alliance, giving Fiat full control of EEA
New York,NY,USA -The Associated Press/The Trucker -21 July 2008: -- ... The European Engine Alliance was established in 1996 as a joint venture between Columbus, Ind.-based Cummins and Fiat units Iveco NV — Fiat’s buses and commercial vehicles segment — and New Holland (now CNH Global) to develop new 4-, 5- and 6-liter diesel engines... The new arrangement gives Fiat’s Fiat Powertrain Technologies unit full ownership of EEA, including manufacturing assets in Turin, Italy... (Image: Cummins will receive CNH Global’s 50 percent stake in joint venture Consolidated Diesel Corp., with the Whitakers, N.C.-based company becoming a unit of Cummins)* Paccar’s 2Q Income Gains on European Sales
USA -Transport Topics -22 July 2008: -- Heavy-duty truck maker Paccar Inc. said Tuesday its second-quarter profit rose 5%, led by higher European sales... The company’s net income rose to $313.5 million, or 86 cents a share, from $298.3 million, or 79 cents, last year. Sales rose 11% to $4.11 billion... Paccar is the parent company of U.S. truck makers Kenworth Truck Co. and Peterbilt Motors Co., and Europe-based DAF Trucks... * Caterpillar’s profit jumps 34 percent with global sales
Peoria, Ill.,USA -The Associated Press/The Trucker, by DANIEL LOVERING -22 July 2008: -- Caterpillar Inc.’s second-quarter profit jumped 34 percent as stronger international sales outpaced higher raw material and freight costs for the maker of backhoes and other heavy equipment... The Peoria, Ill.-based company on Tuesday reported profit of $1.11 billion, or $1.74 per share, for the three months ended June 30, compared with $823 million, or $1.24 per share, a year earlier... Labels: truckmakers' news USA
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