![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
TRUCKMAKERS' NEWS * WORLDWIDE
* China - Sinotruk Jumps on Possible Partnership, Stake Sale
Hong Kong,China -Bloomberg, by Irene Shen & Mark Lee -Nov. 21, 2008: -- Sinotruk (Hong Kong) Ltd., China's largest heavy-truck maker, jumped the most in four days after saying it may sell a stake to a strategic partner... The company gained as much as 14 percent and was up 11 percent to HK$4.34 at the 12:30 p.m. trading break, while Hong Kong's Hang Seng Index rose 4.5 percent. Sinotruk has plunged 64 percent this year, compared with the benchmark's 54 percent decline... The unidentified potential investor may buy new and existing shares in Sinotruk and also allow the company to use its technology, the Hong Kong-based truckmaker said in a stock exchange statement last night. Sinotruk is seeking investment and planning to boost sales overseas as Chinese truck demand wanes alongside the country's cooling economy... Paccar Inc., Navistar International Corp. or Scania AB could be among the possible investors, as these truckmakers haven't got local joint ventures in China yet, she added... * Sweden - Volvo truckmaker's profit rises 24 per cent in fourth quarter
Goterborg,Sweden -AutoNews24h -24 Nov 2008: -- Volvo AB posted a 24 per cent increase in fourth-quarter profit Friday as sales growth stalled for the world's second-biggest truckmaker, missing analysts' forecasts... Goteborg-based Volvo said it earned 3.7 billion kronor (US$533 million) in the last quarter of 2006, up from three billion kronor a year earlier. Sales dipped to 65.1 billion kronor ($9.37 billion) from 65.3 billion kronor in 2005... But Volvo said order bookings grew eight per cent...
* USA - Navistar Set to Use Credits to Meet 2010 EPA Standards
USA -Transport Topics, by Frederick Kiel -Nov. 24, 2008: -- Navistar International Corp. will use federal emission credits to enable its new Class 8 engine to meet 2010 federal emission standards, although the engine could be set up to comply with the regulation without the credits, a Navistar executive said... Navistar’s proprietary big-bore engine will use exhaust gas recirculation to meet the drastically reduced nitrogen oxides emissions level mandated by 2010, rather than the selective catalytic reduction system employed by all other engine makers... Timothy Shick, director of marketing for Navistar’s Engine Group, told Transport Topics that using emission credits will enable it to run higher NOx levels for about two years and use the time to “fine-tune” its EGR system...
* Japan - Isuzu, Mazda Cut 2,700 Jobs as Vehicle Demand Falls
Tokyo,Japan -Bloomberg, by Makiko Kitamura & Tetsuya Komatsu -Nov. 20, 2008: -- Isuzu Motors Ltd. and Mazda Motor Corp. will slash at least 2,700 temporary jobs in Japan as the companies reduce vehicle output because of falling demand... Isuzu will terminate 1,400 temporary and part-time workers' contracts by the end of the year and cut one shift at a truck plant in Fujisawa, Japan from next month, said spokesman Naoki Ariizumi. Mazda will cut 500 workers at its factory in Yamaguchi prefecture, and 800 workers at its plant in Hiroshima prefecture, said spokesman Toyota Tanaka...* Japan - Honda to closes factory for two months
Tokyo,Japan -Investment Markets (Scotland,UK), by Kay Murchie -November 23, 2008: -- Honda, the Japanese carmaker, has announced it is to temporarily close its plant in Swindon for 50 days next year... During the closure, which will take place in February and March 2009, the factory’s 4,800 employees will receive basic pay, confirmed the company... Honda, which is Japan’s second-largest carmaker, recently announced a 41% fall in three-month profits, due to falling sales and the strengthening yen. The closure is as a result of slowing global demand and falling sales...
* USA - Eaton Corp. is building for the long haul
Kalamazoo,MICH,USA -Business Review Western Michigan, by Lynn Stevens -November 26, 2008: -- Eaton Corp. is adding a third floor to its 201,000-square-foot truck business division headquarters in Galesburg, near Kalamazoo... The uptick that the commercial-truck industry was expecting in the second half of 2008 in North America did not materialize, Eaton Truck Group spokesman Don Alles said... One idea driving growth is hybrid power for commercial trucks. Eaton's hybrid systems enable running specialized truck components -- such as booms or extensions -- off hydraulic or battery power with the truck engine off, saving money and reducing pollution...
* India - Tata Motors to lay off 3,000 temps at Pune unit
New Delhi,Pune,India -The Economic Times, by Mohit Bhalla & Gouri Agtey Athale -27 Nov 2008: -- Tata Motors, India’s largest commercial vehicle maker, is shedding up to 3,000 temporary jobs at its Pune factory, weeks after its decision to cut production and dismiss a similar number of temporary workers at its Jamshedpur plant. The latest cuts could take the overall layoffs to around 6,000 workers... Officials at Tata Motors’ Pune factory, who did not wish to be named, said the number of temporary staff set to lose jobs range from 1,000 to 3,000 workers. Another senior company executive said the layoff of temporary staff was routine for all automobile companies...
Labels: truckmakers news worldwide
posted by Unknown @ 10:28 AM
0 Comments:
Post a Comment
<< Home