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TRUCKMAKERS' NEWS * USA - Daimler says U.S. truck market has bottomed
New York,NY,USA -Reuters. by Nick Zieminski -Oct 7, 2009: -- The world's biggest truckmaker, Daimler AG, is seeing evidence the U.S. truck market has bottomed, but it remains cautious about the pace of any recovery, the head of Daimler's truck division said on Wednesday... Andreas Renschler, a member of Daimler's board, also said the company could be profitable at current sales levels, which reflected a downturn he called longer and deeper than ever before. But he does not expect demand to stay depressed at current levels, citing improved order trends in the United States... (Photo from quemotor: Daimler AG)
* Daimler execs make no promise to keep Portland plant open
Portland,OR,USA -The Oregonian, by Richard Read -October 7, 2009: -- Daimler Trucks North America executives spoke with reporters in New York Wednesday, a week after announcing they would reverse their decision to close Portland's Freightliner plant... Martin Daum, the company's new president and chief executive based in Portland, told that the decision to give the plant a "second chance" was the most difficult call he made during his first 100 days on the job... Daimler plans to continue making Freightliner military vehicles at the Swan Island plant instead of moving production to the Carolinas. Western Star truck manufacturing will also stay in Portland instead of moving to Mexico... (Photo by Olivia Bucks/The Oregonian - Recently completed Freightliner military trucks wait on a storage lot next to the Swan Island Boat Ramp parking. A new defense contract for more than 1,800 trucks has helped keep the Portland plant operating)* Truck parts maker Accuride files for bankruptcy
Wilmington,DEL,USA -Reuters, by Tom Hals & Santosh Nadgir & Dave Zimmerman -Oct 8, 2009: -- Accuride Corp filed for bankruptcy on Thursday and said it had an agreement with creditors to transfer ownership of the maker of commercial vehicle parts to bondholders... The company, which supplies parts for Freightliner, Peterbilt, International, Great Dane and Mack brands, said its reorganization plan will extend the maturity and reset the interest rate on about $300 million of existing bank loans... In addition to 98 percent of the equity, noteholders will also be given the right to purchase $140 million in new notes convertible into 60 percent of the company's equity...Labels: truckmakers' news USA
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