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TRUCKMAKERS' NEWS * WORLDWIDE
* Germany - MAN SE buys 25 percent stake in China's Sinotruk
Frankfurt,Germany -Reuters, by Michael Shields -Jul 15, 2009: -- German truckmaker MAN SE will pay 560 million euros ($786.7 million) to get a 25 percent plus one share stake in Chinese peer Sinotruk... The price it is paying marks a 21 percent premium to Hong Kong-listed Sinotruk's average share price over the past 60 days... Sinotruk has around a fifth of the market for heavy trucks in China and sold more than 100,000 heavy trucks in 2008, MAN said. Its new partner generated revenue worth of around 2.5 billion euros and EBIT of 122 million euros last year... MAN will license its TGA truck, engine, chassis and axle technology to Sinotruk, which will contribute its manufacturing and sales network to the partnership... (Photo from truckswallpapers: MAN TGA xxl)
* Germany - MAN CEO says revamped Diesel unit not for sale
Frankfurt,Germany -Reuters, by Ludwig Burger & John Wallace -Jul 15, 2009: -- German truck maker MAN SE did not merge its Diesel and Turbo units to prepare for a sale of the businesses, Chief Executive, Hakan Samuelsson, said in a newspaper interview... Asked whether the units were combined to eventually separate them from the trucks division, he said a sale was not an option... MAN's Turbo business makes components used to create pressure for industrial processes, such as compressors and steam and gas turbines...
* USA - Oshkosh Corporation Announces Major Employment Increase for M-ATV Delivery Order
Oshkoch,WIS,USA -ZIBB -Jul 14, 2009: -- Oshkosh Corporation today announced a major employment buildup to supply MRAP All Terrain Vehicles (M-ATV) to the United States Armed Services... Oshkosh is hiring between 300 and 500 employees for its Defense facilities in Wisconsin and recalling 550 to 650 JLG employees, primarily in Pennsylvania for JLG Industries, Inc., an Oshkosh Corporation company. On June 30, Oshkosh received an initial delivery order from the U.S. Army Tank-automotive and Armaments Command (TACOM) Life Cycle Management Command (LCMC) for 2,244 M-ATVs valued at $1.05 billion, following months of extensive government testing on multiple production-ready vehicles... (Photo from gizmag: Oshkosh's MRAP)
Labels: truckmakers news worldwide
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