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Written by Jimbo
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Thursday, 24 December 2009 |
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Thousands of truckers face a miserable Christmas and New Year period shivering in cramped, freezing cabs on the edge of the European Union since Russian border officials cracked down on what they claimed were technical infringements by Latvian drivers.
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Written by Vascoingles
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Friday, 09 October 2009 |
Man SE CEO Hakan Samuelsson told the Financial Times the truck industry needs to "wait for real signs of improvement" and pre-crisis levels of demand for trucks won't return before 2010.
"We are seeing a levelling out at a low level and its difficult to see that it will get much worse in Europe, but real signs of recovery are still to come. Europe is down maybe half or more than half [but] Brazil and China are much more positive," Samuelsson told the paper.
To recover to pre-crisis levels of demand "we probably have to wait until 2010," he said. To get to volumes seen in 2007 "will take a year or two more than that, and you can, of course, also question will we reach it," he added.
Dampening expectations of a recovery to peak levels last seen in 2007, he said: "We should maybe also not be too disappointed if the next peak is maybe a bit lower."
Source Reuters |
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Written by Vascoingles
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Wednesday, 07 October 2009 |
German truck maker MAN SE has entered into a partnership with China's Sinotruk that will see it acquire a 25 per cent stake in the state-owned truck maker for C560 million ($823 million), the company said Wednesday.
Munich-based MAN said Chinese authorities approved the transaction. It added it would raise the cash through a capital increase, but didn't provide more details.
Sinotruk, headquartered in Jinan, Shandong, is listed on the Hong Kong Stock Exchange. Sinotruk holds some 25 per cent of the Chinese market and sold more than 100,000 trucks in 2008 with sales of C2.5 billion ($3.7 billion).
MAN is one of Europe's largest truck makers, in which Volkswagen AG is the single biggest shareholder. MAN had sales near C15 billion in 2008.
Through the partnership, MAN will license engine, chassis, axle and other technologies to Sinotruk as a basis for the production of a new series of heavy trucks. This series will be manufactured at Sinotruk's existing plants, MAN said.
"China is a market of paramount importance with huge potential," Hakan Samuelsson, MAN's CEO, said in a statement.
MAN has been concentrating on expansion in developing markets. Earlier this year it bought Volkswagen's truck operations in Brazil.
Shares of MAN were up nearly 2 per cent at C56.63 in Frankfurt afternoon trading.
Source AP |
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