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The urban future?
As I write this in a hotel room in Hannover, Germany -- where 400 other trucking journalists are also lodged -- I'm anticipating the opening of the 2016 IAA Commercial Vehicles Show tomorrow morning. Ultimately there will be some 2500 motor noters like me descending on the Hannover exhibition grounds and then rushing about this way and that like pen-wielding ants, all of them looking for a story that nobody else has discovered.
VW, Navistar: What’s the Deal?
Well, it finally happened. Rumored for many months, if not years, and now a fait accompli, Volkswagen Truck & Bus has bought a piece of Navistar International. While the gossip mill mostly envisioned an outright purchase by the German giant, yesterday's announcement described a less dramatic deal: VW is buying a 16.6% stake in the Illinois company. It will pay US$15.76 per share or a 25% premium over Navistar's 90-day volume-weighted average price as of Aug. 31, or 12% over Navistar's closing price on Sept. 2. Navistar will receive US$256 million from the equity investment to be used for general corporate purposes.
European truck makers fined billions for price fixing
BRUSSELS, BELGIUM -- The European Union is fining five truck makers nearly 3 billion euros (Cdn $4.3 billion) for acting as a cartel to fix prices of medium and heavy-duty trucks and time the introduction of technologies to comply with emissions rules. It's the highest fines ever imposed by the EU for a single cartel - twice the previous highest amount, imposed in 2012, according to Margrethe Vestager, the European Union's competition commissioner, in a statement. MAN (now owned by Volkswagen), Daimler, DAF (owned by Paccar), Iveco and Volvo/Renault -- which together account for around nine out of every 10 medium and heavy trucks sold in Europe -- had been working together for 14 years, from 1997 until the European Commission's investigation in 2011 put a stop to it.
Equipment testing models meet different needs: Provencher
Yves Provencher, manager of PIT Group by FP Innovations, is a clear believer in testing new vehicle technologies. "Testing technology on your truck is not an option," he told delegates during the inaugural Canadian Fleet Maintenance Summit. "You need to invest with confidence ... instead of trying it for months and months."
Does VW’s Diesel Fiasco Have Trucking Parallels?
There can't be anyone on the planet who hasn't read or heard at least a few hundred words on the Volkswagen diesel emissions fiasco. But get ready for a few more because this is a story that goes way beyond a very tall company stooping very low to cheat. And it's certainly not just about cars. Those of us in trucking know that only too well.
Westport and Fuel Systems Solutions Announce Merger
VANCOUVER, BC and NEW YORK, NY -- Westport Innovations Inc. and Fuel Systems Solutions Inc. on Tuesday jointly announced the companies have entered into a merger agreement to create an alternative fuel vehicle and engine company. The move comes after the two companies combined lost US$43.7 million in the first half of 2015, according to Transport Topics newspaper. Westport has a publicly stated goal of reaching break even by the middle of 2016 and the merger would only strengthen the company's ability to meet this goal, said a news release. The companies anticipate closing the transaction in the fourth quarter of 2015. Westport and Fuel Systems will operate as separate companies until that time.
German truckmaker MAN finds Navistar stake appealing; OEMs expanding component ties
FRANKFURT, Germany -- Navistar International and MAN Nutzfahrzeuge have strengthened ties in recent years and now the German truckmaker says it could envision a day where it owns a piece of its Chicago-based partner.
