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TRUCKMAKERS NEWS * WORLDWIDE
* Germany - Daimler CFO Rejects Takeover Speculation; Earnings Rise
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Frankfurt,Germany –Dow Jones Newswires/Fox Business (USA) -April 27, 2012: -- Daimler AG Chief Financial Officer, Bodo Uebber, remained tight-lipped Friday about a possible exit of the German auto maker's largest single shareholder and insisted the company isn't a takeover candidate... German monthly Manager Magazin reported last week that Daimler's largest shareholder, Abu Dhabi's sovereign-wealth fund Aabar Investments PJS, plans to sell its stake though Daimler said it hasn't held any talks with the emirate about a possible exit... Aabar holds a direct stake of 3.1% in Daimler, which rises to about 9% when including shares it lent to third parties related to financing transactions, according to Daimler's corporate website... The emirate of Kuwait is Daimler's second-largest shareholder with a 6.9% stake. Institutional investors held almost 67% and private investors another 20% of Daimler stock as of Feb. 6... A spokesman for Aaber declined to comment... 
Frankfurt,Germany -The WSJ (USA), by CHRISTOPH RAUWALD -April 27, 2012: -- German auto maker Daimler AG's first quarter net rose 26% over a year ago as higher sales, lower interest expenses and a favorable tax rate overcame rising costs of new vehicle development... Daimler reiterated it expects full-year revenue to improve compared with 2011, fueled by higher vehicle sales. It forecasts full-year earnings before interest and taxes, a closely watched measure of operating profit, to be flat with last year as costs for broadening its product lineup ...
* Germany - Daimler to complain over rules confusion
Frankfurt,Germany -Financial Times, by Chris Bryant and James Wilson -April 29, 2012: -- Daimler is poised to complain to Germany’s financial regulator about new rules on reporting of financial options that the car and truckmaker says have brought confusion among investors... Daimler was obliged to notify investors this month that Deutsche Bank held a 3.6 per cent direct stake in the carmaker but that additional financial instruments in theory granted it a total of almost 18 per cent of the voting rights... The German Securities Trading Act was amended to improve transparency following anger that in 2008 Porsche was able secretly to build a large position to acquire VW shares without informing the market...
* Sweden - Scania First-Quarter Profit Beats Estimates on Job Cuts
Soedertaelje,Sweden -Bloomberg, by Ola Kinnander -Apr 24, 2012: -- Scania AB, the Swedish truckmaker controlled by Volkswagen AG, reported first-quarter profit that beat estimates after the company eliminated jobs to prepare for slowing demand and raised prices on some models... Net income fell 29 percent to 1.79 billion kronor ($266 million) from 2.51 billion kronor a year earlier, the Soedertaelje, Sweden-based company said in a statement today. Profit was more than the 1.54 billion-krona average of 10 analyst estimates compiled by Bloomberg. Sales declined 3 percent to 20.1 billion kronor...
* Germany - MAN SE Q1 profit falls 23 percent
* Germany - MAN SE has no order cancellations in Europe -CFO
Berlin,Germany -Reuters -Apr 20, 2012: -- German truck maker MAN SE has no signs of order cancellations in Europe despite the economic slowdown in the region, Chief Financial Officer, Frank Lutz, said on Friday at the company's annual general meeting in Munich...
Oragadam,Chennai,India -AFP, by Francois Becker -Apr 18, 2012: -- Germany's Daimler AG opened its first truck manufacturing plant in India on Wednesday to grab a share of the fast-growing market and challenge top Indian vehicle makers. The plant, at Oragadam near the southern port city of Chennai, will have an initial capacity to manufacture 36,000 vehicles but will eventually nearly double capacity to 70,000... The German company, one of the world's largest manufacturers of medium- and heavy-duty trucks, will be going head-to-head against Indian companies Tata Motors and Ashok Leyland...
* Sweden - Truckmaker Volvo Posts Record Q1 Sales
Stockholm,Sweden -The Associated Press/ABC News, by LOUISE NORDSTROM -April 26, 2012: -- Swedish truck maker AB Volvo said Thursday that higher costs contributed to a 2 percent drop in profits in the first quarter even though a buoyant performance in North America helped it record its strongest-ever sales for the period... The Goteborg-headquartered group recorded a net profit of 4.01 billion kronor ($595 million) for the first three months of the year, down slightly from the 4.08 billion kronor earned in the same period a year earlier. Costs, and especially those linked to research and development, dragged the bottom-line figure down compared with last year... However, revenues jumped 10 percent to 78.84 billion kronor however — the highest Volvo has ever recorded during a first quarter. They were boosted primarily by sales in the company's key truck unit in North America. The trend in Europe stayed more or less unchanged from the previous year after a fall in demand in the fourth quarter, it said...
* India - Volvo-Eicher rolls out medium-duty truck
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New Delhi,India -The Hindu Bussines Lines -April 20, 2012: -- Volvo-Eicher Commercial Vehicles (VECV) has launched a new medium-duty truck in the 9-9.5 tonne payload segment under its Eicher brand of vehicles... VECV is an equal joint venture between Eicher and the Swedish truckmaker...
Called the ‘Eicher 11.14’, the company expects this to be a “game changer” in the segment because of better operating economics.
It sports a modern design and strong features list – power steering, bigger tyres and more power. It also claims best-in-class fuel efficiency... The new truck aims to bridge the gap between the 12/13 T and 16 T segments, thereby creating a new segment which will attract customers of the 16T market by providing them the benefit of a heavy duty truck with the savings of a medium duty truck... The Eicher 11.14 can be used as a tanker, for parcel service, machinery transport, pharma and also moving gas cylinders... 
* UK - IVECO completes MOD truck order
London,UK -RAC -17 April 2012: -- Truck maker IVECO has completed the final stages of a 206-unit order for the Ministry of Defence (MOD), according to company officials. The Trakker vehicles, will come equipped with a reinforced metal cage around the driver's cab, designed to protect the occupants from RPG and rifle fire. Like their civilian equivalents, the dumper trucks are equipped with a controllable arm for digging and lifting debris from hard-to reach surfaces. While the MOD's new vehicles are likely to be protected covering fire rather than insurance cover in warzones, commercial drivers on the UK's roads are reminded that car insurance is a vital part of vehicle ownership...
* Viet Nam - Thaco takes 51 per cent of Korean special vehicles maker
Ha Noi,VietNam -Viet Nam News –23 April, 2012: -- The country's largest truck and bus maker Thaco Truong Hai (Thaco) said it had acquired a 51 per cent share in Korean special purpose vehicle maker Soosung... The US$3.5 million deal will help Thaco to expand its production scope to special purpose vehicles like crane trucks, dump trucks and cement mixer trucks... Based in the Korean city of Incheon, Soosong employs 500 people and has an annual sales volume of $10 million... Thaco recently invested US$104 million on a diesel machine production factory using Hyundai technology in an effort to increase the local content in its products... The Quang Nam based company sold 32,000 vehicles last year, accounting for 29 per cent of the local automobile market and earning VND11 trillion ($ 527 millions) in revenue...
Labels: truckmakers news worldwide
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