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TRUCKMAKERS' NEWS WORLDWIDE
* Spain - Fiat's Iveco truck unit to cut 1,000 jobs in
Milan,Italy -Reuters, by Gilles Castonguay & Karen Foster -Apr 26, 2009: -- Fiat's Iveco unit plans to cut about 1,000 jobs at a plant in Spain to reduce costs in the face of a severe sales slump, a spokesman for the truck division said on Sunday... Iveco will cut the jobs at a plant in Madrid, one of three it has in the country, he said... Plant chief Piero Bordesan, was quoted in Italian business daily Il Sole 24 Ore on Sunday as saying that the number of jobs to be cut was less than half of the roughly 2,800 workers at the plant, which makes trucks for transport and construction... Bordesan said the other workers would be off work for extended periods of time throughout the rest of the year to keep operating costs down... The global economic crisis has hurt sales so much that the plant is making 28 units a day rather than the usual 110, he said... Like other industrial groups, Fiat has been cutting costs in all of its divisions... (Photo by i32.tinypic: Ibeco's plant in Madrid)
* Sweden - Scania profit slumps 93%, sees no near-term recovery - Orders tumble, with Central and Eastern Europe hardest hit
Stockholm,Sweden -MarketWatch (London,UK), by Simon Kennedy -April 27, 2009: -- Swedish truck maker Scania on Monday reported a 93% slump in its first-quarter net profit and said it doesn't expect any improvement in demand in the coming quarters as practically all its markets were hit by the economic downturn... The group said profit in the quarter tumbled to 179 million Swedish kronor ($21.8 million) from 2.51 billion kronor a year earlier. The result was below the consensus forecast of 201 million kronor, according to a Dow Jones Newswires survey... Scania said transport companies have slashed investment in new vehicles and that truck makers are now in the downturn phases of their 10-year demand cycle... Labels: truckmakers news worldwide
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