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TRUCKMAKERS NEWS WORLDWIDE * USA: Navistar's - * Sweden: Volvo's - * UK: Leyland Trucks'
* Illinois / USA - Navistar International's cost cuts make it a stock worth watching
-- Navistar International significantly reduced its losses during the fourth quarter but failed to match the street expectations. As a result, the stock reported a sharp decline in prices and is currently trading near its 52-week low range. Navistar is one of the largest truck producers in the U.S.A.; however, it had been facing some challenges since 2012 on account of its new emission treatment technology. The company had been experimenting with an emissions-treatment technology, which was quite different from the ones used in the industry... But this new technology was a failure as it could not comply with the strict federal standards for diesel-engine exhaust . Things got better as it switched to exhaust-treatment components manufactured by Cummins. For the quarter, the company managed to reduce its losses to 88 cents a share from a loss of $1.91 per share last year, while its revenue rose 9.3% to $3.01 billion. The numbers were mainly driven by increase in sales along with a lower warranty cost...
Illinois, USA - Guru Focus - April 22, 2015
* Sweden - Volvo Truck maker names new CEO from rival Scania
-- Swedish truck maker AB Volvo has tapped Martin Lundstedt, the top boss at rival Scania AB, to become the new chief executive and group president later this year... Group chairman Carl-Henric Svanberg says the Goteborg-based company "is gradually" entering a new phase with "an intensified focus on growth and increased profitability" ... The managerial change comes after shareholders have been pushing the truck maker to streamline operations and boost margins... The group on Wednesday also posted first-quarter net income of 4.2 billion kronor ($483 million), up from of 1.1 billion kronor a year earlier. Revenue grew to 75 billion kronor ($8.62 billion) from 65.6 billion kronor a year earlier...
Goteborg, Sweden - AP/ABC News - 22 April 2015
* UK - New chief for Leyland Trucks
-- Bryan Sitko has been appointed Managing Director of Leyland Trucks Ltd, the subsidiary of PACCAR Inc whose factory in Leyland, Lancashire, is the only volume truck maker in the UK... Mr Sitko has spent 16 years at PACCAR both in North America and Europe, most recently as Operations Director for PACCAR Parts Europe based in Eindhoven, The Netherlands. Bryan graduated from the University of Washington in the USA. He will relocate with his family from Eindhoven to the Leyland area...
Leyland, Lancashire, UK - UKHAULIER - 21st April 2015
posted by Unknown @ 2:39 PM
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