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TRUCKMAKERS NEWS * Sweden: Volvo idles Russian Kaluga plant - Volvo's slide stymies Q4 profit
* Sweden - Truck maker Volvo says idles Russian Kaluga plant
* Volvo halts production at Russian Plant, to reduce work force by 30 pct at Kaluga plant
* Volvo official says confirms halting Russian Kaluga plant output...
Stockholm,Sweden -Reuters -Feb 6, 2015
* Swedish truckmaker raised its forecast for its two biggest truck markets
-- Truck maker Volvo raised its outlook for truck markets on both sides of the North Atlantic on Thursday, after an expected fourth-quarter rise in core earnings fizzled in the face of weak demand for construction equipment... The group, locked in battle with Daimler and Volkswagen's truck brands for market leadership, is facing strong U.S.A. demand for trucks but also a deep downturn for its construction gear arm in a slowing China... Gothenburg-based Volvo raised its forecast for its two biggest truck markets, forecasting growth to 240,000 units in Europe and to 310,000 units in North America. It also said it planned to cut about 1,000 staff in its construction gear arm... A surprise profit rise for the third quarter has helped Volvo shares outpace the broader industrial index with a 27 percent gain since late October, though it has sharply underperformed the sector since Persson took the helm in 2011... Stockholm,Sweden -Reuters/CNBC, by Niklas Pollard/Johannes Hellstrom/Alistair Scrutton/David Holmes -Feb 5, 2015
Labels: truckmakers news Sweden
posted by Unknown @ 3:39 AM
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