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Aug 1, 2011

EADS in $1 billion satcom acquisition

FRANKFURT/PARIS (Reuters) – European aerospace group EADS (EAD.PA: Quote, Profile, Research) kept up a hot pace of acquisitions with a $960 million (589.9 million pounds) cash deal to buy satellite communications firm Vizada on Monday, chasing steadier sales from high-value services.

The purchase, from private equity owner Apax France, was flagged by Reuters on Sunday and adds to a string of deals designed to help the Airbus parent firm dispose of surplus cash.

Aug 1, 2011

EADS in $1 billion satellite communications deal

FRANKFURT/PARIS, Aug 1 (Reuters) – European aerospace group EADS (EAD.PA: Quote, Profile, Research, Stock Buzz) is to pay $960 million for satellite communications service provider Vizada in the latest of a series of deals making use of surplus cash.

The purchase, from private equity owner Apax France, was flagged by Reuters on Sunday, and is part of a strategy to reduce EADS’s exposure to cyclical manufacturing revenues, especially those at passenger jet unit Airbus.

Jul 29, 2011

Michelin, Continental lift tire sales targets

PARIS/FRANKFURT (Reuters) – French tire maker Michelin (MICP.PA: Quote, Profile, Research, Stock Buzz) and German rival Continental (CONG.DE: Quote, Profile, Research, Stock Buzz) raised full-year sales targets as price hikes offset higher raw material costs.

Cost inflation as well as the impact of supply chain disruption from Japan’s earthquake in March have been in focus as car makers and suppliers have reported quarterly results in recent days.

Jul 28, 2011

Siemens says markets tough as profit misses view

FRANKFURT (Reuters) – Siemens AG (SIEGn.DE: Quote, Profile, Research, Stock Buzz), Europe’s largest engineering group, cautioned that global economic risks were increasing as its healthcare unit dragged quarterly results below expectations.

Fiscal third-quarter net profit from continuing operations fell 47 percent to 763 million euros ($1.1 billion), lower than a consensus of about 1 billion euros in a Reuters poll, and while the group brushed off concerns that emerging markets might be cooling, it acknowledged developed countries were a worry.

Jul 27, 2011

Daimler sees emerging market car demand cooling

FRANKFURT (Reuters) – German car and truck maker Daimler missed quarterly revenue forecasts and warned strong demand for cars in the key emerging markets of China and India is likely to slow sharply.

Premium and mass-market carmakers have looked to fast-growing markets such as China to make up for sluggish sales growth in Europe, although China’s car market, the world’s biggest, is seen cooling this year due to rising fuel prices and tighter rules on car registrations.

May 31, 2011

VW motors ahead with MAN-Scania truck merger plan

FRANKFURT, May 31 (Reuters) – German carmaker Volkswagen
(VOWG_p.DE: Quote, Profile, Research, Stock Buzz) formally launched its bid for MAN (MANG.DE: Quote, Profile, Research, Stock Buzz) on
Tuesday, in a move towards creating Europe’s biggest truckmaker.

VW’s chairman Ferdinand Piech has long been itching to
combine MAN and Sweden’s Scania (SCVb.ST: Quote, Profile, Research, Stock Buzz) to take on the world’s
biggest truck maker, Daimler (DAIGn.DE: Quote, Profile, Research, Stock Buzz), and number two Volvo
(VOLVb.ST: Quote, Profile, Research, Stock Buzz), but has been hampered by anti-trust issues and
resistance from Scania.

May 30, 2011

Volkswagen set to formalise its offer for MAN

FRANKFURT/PARIS, May 30 (Reuters) – Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz)
is set to formalise its approach for truckmaker MAN (MANG.DE: Quote, Profile, Research, Stock Buzz) in
coming days, marking another milestone in the German automaker’s
bid for global dominance.

The offer is one in a series of ambitious plans Europe’s
largest carmaker has on the go as it strives to overtake
Japanese rival Toyota Motor (7203.T: Quote, Profile, Research, Stock Buzz) as the world’s No.1 player
by 2018. [ID:nN24267251]

May 24, 2011

Europe in wrangle over new ash crisis rules

PARIS/FRANKFURT (Reuters) – New airspace closure rules decided after last year’s Icelandic volcanic eruption have caused divisions in Europe on how to decide whether airlines can fly near the ash cloud.

A bureaucratic turf war has so far prevented Europe’s controllers from applying the same rules to everyone, with Germany insisting on closing skies as a precaution where there are signs of significant ash, aviation sources said on Tuesday.

May 10, 2011

Deutsche Post Q1 beats on Asian express demand

FRANKFURT (Reuters) – Deutsche Post DHL’s (DPWGn.DE: Quote, Profile, Research, Stock Buzz) earnings beat estimates in the first quarter as demand from Asia boosted profits at its express delivery business.

“The positive performance was largely the result of markedly higher volume of international shipments,” Europe’s biggest mail and express delivery company said on Tuesday.

May 9, 2011

VW makes $20 billion MAN offer to kick off truck merger

FRANKFURT (Reuters) – Volkswagen (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) made a long-awaited bid for MAN (MANG.DE: Quote, Profile, Research, Stock Buzz), valuing it at $20 billion and stepping up plans to merge the German truckmaker with Swedish rival Scania (SCVb.ST: Quote, Profile, Research, Stock Buzz) in which it also holds a stake.

Volkswagen, Europe’s biggest carmaker, said on Monday it would offer MAN shareholders 95 euros per ordinary share and about 60 euros per preference share, in both cases less than the stock was trading at last week ahead of the bid.