Truck and machine manufacturing group MAN has achieved its 2008 financial goals, and increased turnover and profits, head Hakan Samuelsson said.
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He told an investor conference in New York 2008 turnover was greater than 2007’s EUR15.5m and return on sales was just under 12%.
Order intakes were down in 2008 but the truck division is prepared for a 30% reduction in capacity through the use of short-time working and a reduction in hourly workers. Production lines will be idled for 48 days during the first half of the year.
Samuelsson confirmed that MAN’s purchase of VW’s South American truck business, Volkswagen Caminhões e Ônibus Indústria e Comércio de Veículos Comerciais (VW CO), would be completed by the end of the first quarter. The company was transferred on 1 January.
VW CO is the largest truck manufacturer in Brazil, has 5,000 employees and produces medium and heavy duty trucks and city and tourist buses.
It has recently exported right hand drive truck kits to South Africa for assembly there.
