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Jul 28, 2015

TRUCKMAKERS NEWS * Europe - MAN has 170 mln euros of restructuring costs in Q2

* Germany - MAN SE cuts 2015 profit expectations after Q2 loss

-- German truck maker MAN SE cut its profit and sales expectations for this year after posting a second-quarter loss due to restructuring costs and plunging demand in Brazil... The Volkswagen-owned manufacturer last month announced plans to cut 1,800 jobs at its main trucks division in Europe as part of the parent company's efforts to slim down the unit and revive profit... MAN is more exposed than rivals Daimler and Volvo to problems in Brazil, where it has been market leader for trucks of more than 5 metric tons for over a decade, because it lacks a presence in the growing North American market... The Munich-based group said on Tuesday it incurred a 19 million-euro ($21 million) quarterly loss as costs of 170 million euros to reorganize truck production hit results... 
(Photo)  --  Munich, Germany - Reuters -Jul 28, 2015

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