China Economic Review
China will soon become the world's largest source of patent applications, as the country transitions from manufacturing-oriented to innovation-driven economic growth, according to a report released Tuesday, Global Times reported.
China became the third-largest patent office in the world in 2010, following the US and Japan, in terms of the patent filing volume, according to the third annual report on China's patents and innovation from media conglomerate Thomson Reuters.
Transport Topics Magazine
Volkswagen AG said Wednesday it has completed purchase of a majority stake of fellow German truck producer MAN SE, opening the way to becoming “a new top player on the global truck market.”
VW has been trying for years to merge its commercial vehicle operations with MAN and with truck manufacturer Scania AB of Sweden, which Volkswagen has controlled for five years.
Auto Business News
Volvo Trucks Used Truck Department, a subsidiary of Volvo AB (NASDAQ: VOLV) (STO: VOLVA) (STO: VOLVB), has opened its first dedicated Trade & Export Centre.
The office is situated on Padstow Road, off Torrington Avenue, close to the A45, in the Tile Hill area of Coventry, UK. It provides trade and export buyers with the opportunity to view a comprehensive stock of around 100 trucks.
Behr America
Dr. Wilm Uhlenbecker has been named president and CEO of Behr America, a leading supplier of automotive air conditioning and engine cooling systems.
He previously was vice president, operations for the company. He is also a member of the Behr America Executive Committee.
Diesel Progress Magazine
Deere & Co. has announced plans to invest approximately $32 million to expand its production capacity in Orenburg, Russia. Deere has purchased and will renovate a factory in the city and move existing operations in Orenburg to the new, larger facility. Deere assembles seeding equipment in the current Orenburg facility.
The new investment will increase the available manufacturing space for John Deere in Orenburg by 600 percent, resulting in additional production processes being localized and an expanded product offering from four current models to 15 models of seeding, tillage, and application equipment. The expansion will result in placement of fabrication, paint, and assembly operations. Including the $32 million of Deere's capital investments, officials said the project represents investments of approximately $50 million in total for the region when including improvements in the local supply base and other costs
Transport Topics Magazine
Investor Carl Icahn, who bought a 9.8 percent stake in Navistar International Corp. last month, will not seek representation on the company’s board and will vote for Navistar’s board nominees next year.
Navistar said Tuesday it will “destagger” its board and elect directors on an annual basis.
Bangkok Post
Bus and truck maker Hino is ready to restart production at its Amata plant in Chon Buri today as parts supply problems have been resolved.
The plant was not affected by the flood but the shutdown of parts factories had forced Hino to halt production since Oct 14.
Diesel Progress Magazine
The boards of Hexadex Limited and J. Eberspaecher GmbH & Co. KG announced a joint venture agreement that will transfer a majority interest in Swenox AB to the Eberspaecher group. Swenox, part of the British Hexadex Group, designs and manufactures exhaust systems for heavy-duty and medium-sized commercial vehicles. No financial details were provided.
The move gives Esslingen, Germany-based Eberspaecher 76 percent of the issued share capital of Swenox. Hexadex retains a 24 percent interest in Swenox and will remain actively involved in the strategy and leadership of the company. With this investment, Eberspaecher said it is further extending its strategic focus on exhaust technology for commercial vehicles.