Agence France Presse
Fiat chief Sergio Marchionne is planning to sell Fiat Industrial, the company's heavy vehicle division, in order to finance a merger with Chrysler, Italian daily La Repubblica reported on Wednesday.
The newspaper, which did not cite any sources, said that Marchionne had recently contacted a group of banks to find a buyer for Fiat Industrial. Several major investment funds were interested in the purchase, the newspaper said.
India Automobile News
New Delhi, May 2: World's largest tractor maker Mahindra & Mahindra has reported a rise of 23 percent in its sales to 32,090 units in April 2011 against 26,043 units in the same month in 2010, the company said.
The domestic sales of the company grew by 21 percent to 30,349 units in April 2011 from 25,037 units in April 2010.
Wall Street Journal
For years, the U.S. manufacturing sector seems to have been sliding into the Slough of Despond.
Companies have been eagerly outsourcing to lower-cost venues such as China, India and Mexico. And with the production go jobs. Occasionally a company might bring some manufacturing back to the U.S. But it's a trickle, and the exceptions seem to prove the rule. General Electric, Caterpillar, a handful of others—the list is short.
The Times of India
BEIJING: In a rare case of a Chinese company investing directly in India instead of relying on exports, a leading truck manufacturer has inked an investment deal with the Maharashtra government.
Beiqi Foton Motor, one of China's leading manufacturers of commercial vehicles, plans to put in $380 million on a assembling plant in Maharashtra, State media said.
E-Procurement Technologies Ltd.
Engine Manufacturer Cummins India Said It Will Spend Up To Rs 500 Crore (U$11mil) In The Current Financial Year On Various Purposes, Including Setting Up A Generator Plant And Expanding Its Existing Capacity.
“Our Capex For This Fiscal Is About Rs 400-500 Crore. This Amount Will Be Invested In Two Places -- In Our Phaltan Production Site And Pune Laboratory” stated Cummins India Chairman And Managing Director Anant Talaulicar.
NAM News
This morning the National Association of Manufacturers joined by the American Farm Bureau Federation, Business Roundtable, Coalition of Services Industries, Emergency Committee for American Trade, National Foreign Trade Council, U.S. Chamber of Commerce and the U.S. Council for International Business issued a joint statement about the lack of progress in the Doha Round. Over the past few weeks talks in Geneva have stalled. Here is the joint statement issued today:
We deeply regret that the WTO Doha Development Agenda trade round has not yet been able to achieve its intended objective of promoting world economic growth by expanding trade.