Archive for December 25th, 2009

Volvo takes over Prevost and Nova Bus (2004-10-19)

As part of the restructuring of the bus manufacturer Henlys Group plc, Volvo Group has reached an agreement to acquire the remaining 50% of the North American bus manufacturer Prevost Car Inc., containing the Prevost and Nova brands. The purchase price is USD 83 M including two loans made As part of the restructuring of the bus manufacturer Henlys Group plc, Volvo Group has reached an agreement to acquire the remaining 50% of the North American bus manufacturer Prevost Car Inc., containing the Prevost and Nova brands. The purchase price is USD 83 M including two loans made available to Prevost Car Inc. by Henlys. According to the agreement Prevost Car Inc. will become a wholly owned subsidiary of Volvo Bus Corporation. The agreement also involves Volvo converting part of the convertible debenture loan of USD 240 M issued to Henlys into shares in a newly established US based company containing… Continue reading

Closed Crankcase, Particulate Filter For 2007 ACERT Diesels (2004-10-20)

Caterpillar has provided a glimpse at what its 2007 ACERT diesels will look like. Jim Parker, vice president, Caterpillar Power Systems Marketing Division speaking to the 60th annual meeting of NationalLease, the member-owned system of full-service leasing companies, said the 2007 diesels will feature the next generation of electronics and fuel management systems, as well as closed crankcase ventilation and a diesel particulate filter with active regeneration.Parker said testing of the new engines and aftertreatment systems is in process at Caterpillar-in fact, a truck was equipped last year to meet 2007 standards and shown at a U.S. Department of Energy conference in May. He added that 2007 Caterpillar engines are expected to have the same power range and maintenance schedules, and to deliver fuel economy that is comparable to today\'s engines, although the impact of low-sulfur diesel fuel is still unknown. A number of 2007 Caterpillar engines at selected ratings will… Continue reading

China construction machinery industry survey (2004-10-20)

According to studies, the number of manufacturing enterprises in China construction machinery has reached 1008. With regards to turnover, 300 companies have turnover of over 1 million RMB, 125 of over 50 milliom RMB, 30 of over 100 million RMB, 4 of over 1 billion RMB, 3 of over 2 billion RMB and only Xugong Group of over 3 billion RMB.In China, there are more than 200 companies manufacturing concrete machinery. Among the 200 companies, only three have a sales income of 1 billion RMB. As to concrete truck mixers, truck mounted concrete pumps and trailer concrete pumps, the main manufacturers go to Sany Heavy Industry, Anhui Xingma, Zoomlion, Shandong Fangyuan, Shanghai Huajian and Liaoning Hainuo. The six companies occupy 90% of the market share. … Continue reading

Komatsu equipment sales to rise (2004-9-14)

Publicly listed PT Komatsu Indonesia, a unit of Japanese heavy-equipment producer Komatsu Ltd, forecast sales of its construction equipment to soar by at least 78 percent this year on higher demand from mining, logging and agricultural companies.Komatsu spokesperson Petra Ho said the company had expected sales of construction equipment to reach at least 1,400 units this year compared to 786 units last year. "Expansion in mining, agriculture and logging have triggered more demand for our construction equipment as they increase output amid higher prices of their commodities," said Petra during a media gathering recently. "Our sales for the equipment will probably rise by at least 78 percent this year," she said. Petra said the company projected mining companies to account for 51 percent of the total construction equipment demand, followed by logging companies with 22 percent, agricultural companies with 10 percent and construction companies with 17 percent. Total domestic demand for… Continue reading

Daewoo Heavy Wins US$51 MLN in MacHine Tool Order in U.S. (2004-9-15)

Daewoo Heavy Industries & Machinery Ltd., South Korea\'s biggest construction equipment maker, said Wednesday it has won orders in the United States worth US$51 million to supply manufacturing machines.The company obtained the orders at an industry fair, the International Manufacturing Technology Show 2004, which began last Wednesday for an eight-day run in Chicago.Daewoo Heavy didn\'t provide the names of the companies from which it received the orders.Some 1,800 exhibitors from 40 countries joined the trade show, Daewoo Heavy said.In the first eight months of this year, Daewoo Heavy exported US$48 million worth of machine tools to the United States, up 134 percent from the previous year, the company said.(From Yahoo) … Continue reading

Eight Final Bidders to Compete for Stake in Daewoo Heavy (2004-9-16)

Eight investors, including a consortium led by Pantech Co., tendered their final bids for a controlling stake in Daewoo Heavy Industries & Machinery Ltd. (KSE:042670) Tuesday, sources close to the auction said.The Pantech-led consortium, which includes Daewoo Heavy workers, expressed interest in the whole 58 per cent stake up for sale, along with Doosan Heavy Industries Co. (KSE:034020) and Hyosung Corp. (KSE:004800), which each tendered separate bids, the sources said.A consortium of Samyoung Corp. (KSE:036530) and Tongil Heavy Industries Co. (KSE:003570), and Design Limit submitted final bids for Daewoo Heavy\'s defense unit, while foreign investors, namely farming equipment maker Terex Corp., U.S. equity funds Carlyle Group and JP Morgan Partners, have submitted bids for the non-defense unit, the sources added.Foreign investors are barred from bidding for the defense unit for national security reasons.State-controlled Korea Asset Management Corp. (KAMCO), which is leading the auction, will pick a preferred bidder early next month… Continue reading