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Europe: truck maker MAN SE cuts work hours for 4,000 employees

Europe: truck maker MAN SE cuts work hours for 4,000 employees

Europe’s third largest heavy truck maker announced it would begin scaling back truck production output by decreasing work hours for as many as 4,000 workers as the region’s demand in key markets has been dropping. Anders Nielsen, head of MAN’s commercial-vehicle unit, commented during a press conference in Hanover, Germany […]

Porsche 911 GT3 ruined in DUI crash

Porsche 911 GT3 ruined in DUI crash

A Polish man totaled his Porsche 911 GT3 after drunk driving it in his home country. A lot of alcohol combined with driving an expensive and powerful sports car will transform the action into an article, no matter where you live in. The example in question is coming from Poland, […]

VW to Buy MAN’s Shares from Minority Shareholders

VW to Buy MAN’s Shares from Minority Shareholders

MAN announced that VW is interested in buying the company’s shares from the minority shareholders, offering 80.89 euro per share. This move is part of VW’s plan to gain full control of MAN, but the offered price represents a 7.1% discount to MAN’s closing stock price yesterday, March 21st, of […]

MAN Slows Investments, Focuses On Reducing Spending

MAN Slows Investments, Focuses On Reducing Spending

MAN plans to slow investments this year and focus on reducing spending on parts, as the European crisis makes earnings fall faster than sales. Chief Executive Officer Georg Pachta-Reyhofen said today, February 8th, that truck market in Europe will most likely remain ‘significantly below’ the recent peak of almost 400,000 […]

Piech suggests VW will add at least one brand

Piech suggests VW will add at least one brand

Volkswagen AG chairman Ferdinand Piech suggested the company has plans to add at least one brand to the lineup in a bid to become the world’s largest carmaker by 2018. In an interview with German monthly magazine ADAC Motorwelt, Piech said that his children 10 years from now will drive […]

VW Plans to Take Full Control Over MAN

VW Plans to Take Full Control Over MAN

Wednesday, January 9th, VW announced it plans to take full control over MAN. VW declared that it will seek to sign with MAN a domination and profit and loss transfer agreement, which will give the German automaker full financial and strategic control over the truck maker, in which VW has […]