Volkswagen has scaled back its IPO ambitions for its truck division Traton Group, which includes the brands MAN and Scania, and is now offering 15% of the company’s shares. Originally, Volkswagen had intended to offer 25% of Traton to investors. The manufacturer has now published a prospectus and launched its offer period, which begins today (17 June). The IPO is part of wider plans by Volkswagen to raise funds to invest in its core car manufacturing business. The share price […]
Autologic says its acquisition of the assets of Sensible Transport will add £6m a year to its revenue, but warns that automotive customers remain “focused strongly on price”. For the year ending 31 December 2011, Autologic saw its UK revenue rise 4% to £114.5m (2010: £110.6m) but operating profit in its UK arm fell from £3.2m a year ago to £3.1m. It says that contract pricing in the automotive sector remains competitive, with customers focused strongly on price. The company […]
Turnover at Ceva Logistics fell 6% in the first three months of 2013, while its profit halved as the company continued with its cost reduction measures.
Volkswagen is considering spinning off its commercial vehicle division – comprising Scania, MAN, Volkswagen Caminhões e Ônibus and Rio– by the end of the year.