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TRUCKMAKERS NEWS * WORLDWIDE
* France - Renault Sells Its 6.5% Stake in Volvo
Paris,France -Bloomberg/Transport Topics -13 Dec 2012: -- French automaker Renault SA sold its remaining 6.5% stake in Volvo AB for about $1.92 billion, ending an 11-year run as Volvo’s largest owner... Renault sold its holdings at about $13.80 a share — about 3.8% below Wednesday’s closing price of about $14.40 per share. Volvo, Gothenberg, Sweden, trades it shares in Swedish kronor... Renault sold the shares to reduce its debt and invest in France, Russia and China, the company said in a statement... It had sold a 14.9% stake in Volvo in 2010 for about $4 billion...
* Russia - KAMAZ truck makers to embrace robotics
Moscow,Russia -The Voice of Russia, by Oleg Nekhai -Dec 17, 2012: -- Russia’s biggest truck-makers KAMAZ, based in Tatarstan, have announced the start of a $600mln project to equip their assembly lines with robots which would correct flaws discovered in truck parts by laser-aided build-up welding... The suppliers are laser-makers IRE-Polus, based in Fryazino near Moscow, and robotic software developers Eidos, based in Kazan. Delivery on the order is expected next year. Similar robots made in Japan tackle vehicle parts weighing under 200 grams. KAMAZ’s robots will be capable of tackling parts weighing up to 50 kilograms...
* India - Navistar Selling Stake in Indian Joint Venture
Mumbai,Maharashtra,India -Transport Topics -18 Dec 2012: -- Indian truck maker Mahindra and Mahindra Ltd. plans to purchase Navistar International Corp.’s stake in the two companies’ Indian joint venture for about $33 million... Following the proposed purchase, Mahindra Navistar Automotives Ltd. and Mahindra Navistar Engines Pvt Ltd. would become wholly owned subsidiaries of Mahindra, the two companies said in a statement... The sale, which requires regulatory approval in India, is expected to be completed in early 2013, said the two companies, which entered into a joint-venture agreement in 2005...
Labels: truckmakers news worldwide
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