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TRUCKMAKERS' NEWS * WORLDWIDE
* China - Sinotruk Jumps Most in Eight Months After Selling Stake to MAN
Hong Kong,China -Bloomberg -July 16,2009: -- Sinotruk Ltd., China’s biggest heavy-truck maker, jumped the most in eight months after agreeing to sell a 25 percent stake to MAN SE... The truckmaker closed 15 percent up at HK$8.66 on Hong Kong’s stock exchange after earlier rising as much as 28 percent. MAN, Europe’s third-biggest truckmaker, will pay 560 million euros ($788 million) for new and existing shares of Sinotruk, the companies said last night... Sinotruk will get access to cleaner-engine technology and MAN’s international sales network after increasing domestic competition caused it to forecast a drop in first-half profit. The deal will also enable MAN to expand in emerging markets following a 45 percent decline in European heavy-truck sales this year through May amid an economic slowdown... * Italy - Fiat to edge back to profit in Q2, debt still weighs
Milan,Italy -Reuter, by Jo Winterbottom & Massimo Gaia -Jul 17, 2009: -- Italian automaker Fiat is forecast to have returned to profit in the second quarter when car sales benefited from tax breaks, but analysts looking under the bonnet say trucks and tractors are still troubled... Chief executive, Sergio Marchionne, has said this year will be the toughest he has faced but is still predicting a trading profit of more than 1 billion euros ($1.4 billion) and debt being cut below 5 billion euros... While Fiat sales in Europe and Brazil, its second-biggest market after Italy, are buoyed by sales incentives, analysts will want to see cost cuts and improved cash flow... (Photo from 4x4truckstrailers: Iveco trucks)Labels: truckmakers' news worldwide
posted by Unknown @ 3:08 PM
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