* Sweden / India - Volvo selling up to $300 mln worth of Eicher shares
-- Truck maker Volvo is looking to sell $250 million worth of shares in Eicher Motors, with an option to increase the sale to up to $300 million, according to a term sheet seen by Reuters on Tuesday... The share sale is happening at an indicative range of between 14,636 and 15,907 rupees per share, according to the document. (1 US Dollar = 0.016068 INR - Indian Rupee) ... Volvo owns 8.4 percent of Eicher Motors, according to data from exchange BSE Ltd. The marketing term sheet seen by Reuters did not specify how many shares were being sold... Volvo and Eicher also own a 50-50 truck and bus making joint venture called VE Commercial Vehicles, but Volvo's stake may fall to 46 percent after the sale of Eicher shares, according to India auto analysts... Volvo is under pressure to demonstrate the benefits of years of cost cuts aimed at boosting its profit margin by 3 percentage points by the end of 2015 ... - (REUTERS/Yves Herman/Files - A Volvo logo is seen on a car at the Brussels International Auto Show January 22, 2015) - Stockholm, Sweden / Mumbai, India - Reuters, by Abhishek Vishnoi / Johannes Hellstrom & David Holmes - Mar 3, 2015
* Switzerland - GENEVA MOTOR SHOW: Borgward brand returns after 54 years
-- German car brand announces a commercial tie-up with Beijing/China truck and commercial vehicle maker, Foton... Old million-selling German car brand announces it's working on an all-new plug-in hybrid concept for its return... Confirming late last night at the Geneva Motor Show that work has already begun on a plug-in hybrid concept... The return of the German car maker has been linked by industry pundits with a commercial tie-up with Beijing truck and commercial vehicle maker, Foton - but Borgward has yet to confirm the partnership that could see production begin at the Beijing truck maker’s factories...That concept will now only be revealed once Borgward had moved from its temporary base in Lausanne, Switzerland, to its new home in Mercedes-Benz and Porsche’s back yard Stuttgart, Germany... In its heyday, before the premium car maker went bankrupt back in 1961, Borgward employed more than 23,000 people, and manufactured in excess of one million vehicles... Today Borgward is led by industrialist Karlheinz Knöss and Christian Borgward, grandson of the founder Carl Borgward... Stuttgart, Germany - Motoring (Australia), by John Mahoney -5 March 2015Labels: truckmakers news worldwide
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