MAN said it saw no improvement in prospects for its heavy truck division and expected the global slowdown to hit its diesel motor and turbo operations as it posted an operating loss of EUR42m (US$62m) in the third quarter, compared with a profit of EUR268m (US$400m) a year ago.

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Net profit collapsed in the third quarter to EUR6m (US$9m) from EUR302m (US$451m) in 2008.


The company said in a statement: “Following the sharp downturn, industrial production should recover slowly over a period of several years. “The impact of the recession will also be evident in the diesel engines and turbo machinery business areas over the coming quarters.”


Those sectors have up to now been relatively stable while MAN expected heavy truck division business “to remain at the current level”.


Orders fell 14% to EUR2.65bn (US$4bn) while sales showed a similar drop to EUR3.1bn (US$4.6bn).

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