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TRUCKMAKERS' NEWS WORLDWIDE
* Russia - Putin gives auto and trucks makers state loan guarantees
Togliatti,Russia, -Reuters, by Anton Doroshev, Simon Shuster, & Dmitry Zhdannikov -Mar 30, 2009: -- Russian Prime Minister, Vladimir Putin, pledged on Monday 13.6 billion roubles ($407.1 million) in state guarantees on loans to local car firms and ordered another 25 billion disbursed to AvtoVAZ... Truckmaker Kamaz will get 4.6 billion roubles in state loan guarantees, while carmakers GAZ Group and Sollers will get 4 billion and 5 billion respectively, Putin said on Monday... * Germany - Daimler to Cut Hours, Pay in Europe
Stuttgart,Germany -Bloomberg/Transport Topics -1 April 2009: -- Daimler AG plans to cut its labor costs by 2 billion euros, or about $2.7 billion, by trimming hours and wages for 73,000 non-production workers in Germany and by delaying a pay increase... Daimler, also plans to delay a 2.1% percent wage increase for union workers from May to December and aims to reduce year-end bonuses... Workers in the company’s administration, sales, and research and development will be asked to work 30 rather than 35 hours a week and accept 14% lower wages... Employees want a profit-sharing payment that totals 280 million euros (about $370 million) to be converted into a stake that could be in stock or options, a Daimler labor leader said, Bloomberg reported...
* USA - Navistar shares tumble on Pentagon protest
Chicago,ILL;USA -Reuters, by James B. Kelleher -Apr 2, 2009: -- Shares of Navistar International Corp. tumbled on Thursday after the truckmaker, which is competing to supply the next generation of mine-resistant ambush-protected vehicles to the U.S. military, filed a complaint with the Pentagon over the evaluation process, suggesting its bid might be in trouble... The Warrenville, Illinois-based company said it was "in discussions" with the government over what it characterized as a "technicality" in the program's evaluation criteria. But it provided no additional specifics... The company said it was forced to escalate the discussions into a full-blown formal protest because of Pentagon regulations...
Labels: truckmakers news worldwide
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