All members are invited to attend the next meeting of MEMA Brand Protection Council from 9 a.m. until 1:30 p.m. on Tuesday, June 10, at the Hyatt Regency Capitol Hill, Washington, D.C.
Held in conjunction with the Legislative Summit, this special meeting of the BPC will feature guest speakers from government agencies including the FBI, Department of Justice, Immigrations and Customs Enforcement, Customs and Border Patrol, and the National Highway Traffic Administration to discuss intellectual property and compliant parts enforcement.
Hino has announced that it will establish a sales company in Russia through a joint venture with Mitsui. The new company, Hino Russia, will market Hino's full range of light- to heavy-duty trucks and be operational by June 2008.
The joint venture is reported to involve an investment of 400m (US$3.8m). Hino will hold 65 percent and Mitsui 35 percent. The venture plans to sell 500 trucks during the first year and targets 5,000 per year within five years.
The Volvo Group has reported a 12 percent increase in its net income in the first quarter of CY2008, rising to SEK 4.21bn (US$703.66m), compared with SEK 3.75bn in the corresponding period of the previous year.
This rise in net income was due to a significant increase in the Group's operating income, which rose by 22 percent year-on-year to SEK 6.49bn, up from SEK 5.33bn a year earlier. The bulk of the operating income came from Volvo's industrial operations, which accounted for SEK 6.1bn, while the remaining SEK 381m was from its customer finance business.
The Motor and Equipment Manufacturers Association (MEMA) will honor Rep. John Dingell as the 2008 recipient of the "Joseph M. Magliochetti Industry Champion" award. The award will be presented during MEMA's annual Legislative Summit in Washington, D.C. on June 11.
MEMA established the Industry Champion award in 2004 in the memory of Joseph M. Magliochetti, who served as the chairman and CEO of Dana Corp. until his death in 2003. The award was designed to recognize lawmakers that have shown leadership and initiative on issues impacting automotive and heavy duty suppliers.
An unprecedented wave of exports, mostly to Russia, has cushioned a downturn in the Class 8 used-truck business, which has been hurt by high fuel prices and a weak freight market, according to industry executives.
The overseas demand has helped firm up prices for used units, the officials said; historically, economic downturns have sent used heavy-duty truck prices spiraling downward.
Carlisle Companies, Charlotte, N.C., has decided to dispose of its on-highway brake business and its power transmission belt business.
A strategic plan announced during the company's fourth quarter 2007 earnings call was developed to simplify Carlisle's business and focus management's attention on the growth and margin improvement opportunities in its Construction Materials, Transportation Products and Applied Technologies segments while maximizing value and considering strategic alternatives for some of the businesses in its Specialty Products segment, explained David A. Roberts, Chairman, President and CEO. "After evaluating the power transmission belt business and on-highway brake business, which recorded combined net sales of approximately $200 million in 2007, a decision was made in April 2008 to develop an exit strategy for these businesses."
Heavy-duty truck making continued its contraction in March, the 15th straight month that U.S. retail sales declined on a year-over-year basis, but orders continued climbing, holding out hope for a rebound later this year.
Truck manufacturers and their dealers moved 35.2 percent fewer vehicles in March, compared with last year, and 40.8 percent fewer in the first quarter, according to the monthly survey by WardsAuto.com.