* Truck subsidiary MAN SE to seek further cost cutting
-- Germany’s MAN SE will spread the cost cutting strategy from its core trucking business to all of its other divisions as the parent company has asked the truck maker to lift profitability. Volkswagen AG has been mulling for years the formation of a global trucking powerhouse... His task is to corroborate MAN with the other trucking subsidiary – Sweden’s Scania – and the namesake VW truck division to form a worldwide unit that would be able to take on global leaders Daimler and Volvo... MAN’s truck and bus division, which makes up more than 50 percent of the overall sales of the company, said the operating profit nosedived 38 percent to 152 million euros ($162 million) in 2014 as the markets in Europe and emerging markets, such as Brazil, continued their slowdown. MAN’s newly announced cost reduction strategy will target new levels of savings through 2017 across the entire spectrum of the company’s business, including the diesel engine and turbine units. The plan should yield gains of at least 600 million euros during that period...
(Photo: MAN's headquarters in Munich) -- Munich, Baviera, Germany - Reuters/InAutoNews, by Aurel Niculescu - March 12th, 2015Labels: truckmakers news Germany
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