* Sweden / India - Volvo to sell its 3.7% stake in Eicher Motors
-- Volvo AB, Europe's leading truck maker, is exiting its seven-year-long investment in Eicher Motors, the maker of Royal Enfield motorcycle. The Swedish major on Wednesday launched a sale of its 3.7% shareholding in Eicher. In March, Volvo had sold 4.6% stake... The value for the entire block is expected to be about Rs 1,800 crore as per Wednesday's trade, in which Eicher's shares closed at Rs 18,209... Experts believe that there are two reasons for a stake sale by Volvo. One, under the IFRS account, standard indirect stake in Eicher was unlikely to get treated as a joint venture, so Volvo preferred to cash out... Secondly, profit growth for Volvo in the previous few years has been quite subdued, so unlocking value in Eicher was an attempt to boost income...
(Photo: The Eicher Pro series comes with day cabins that have been designed by Volvo exclusively for India) -- Mumbai, India - The Economic Times, by Ashutosh Shyam - 3 June 2015
* Germany / Philippines - Mercedes-Benz trucks pace a racing circuit
-- The biggest vehicle to carry the three-pointed star, however, is Mercedes-Benz’s long haul, heavy-duty truck, the Actros. Five of the big rigs were zooming around the Clark International Speedway on a searing hot summer day, ready to be put through their paces... The Actros is the German brand’s entry in the 18- to 33-ton class, and is positioned as a safe, reliable and fuel-efficient truck... Mercedes-Benz is the global leader in trucks, selling more than 280,000 units per year... With Mercedes-Benz trucks already a top choice in Europe, the brand is focusing on Asia this year...
(Photo: Helping the Actros go through its paces at the Clark tracks were experienced Mercedes-Benz personnel) -- Manila, Philippines - Motion Cars, by Jason K. Ang - June 3, 2015Labels: truckmakers news Europe, truckmakers news worldwide
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