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May 3, 2013

Volvo Cars aims to break even, without one-off gains

STOCKHOLM, May 3 (Reuters) – Chinese-owned Volvo
Cars said on Friday it could reach break even on an
operating level this year without help from one-off gains that
alone kept the carmaker in the black in 2012.

Languishing sales in China and Europe took a heavy toll on
the car industry in 2012, sending Volvo’s operating profit
plummeting to 18 million Swedish crowns ($2.76 million).

Apr 25, 2013

Rise in Volvo orders lifts hopes of trucks recovery

STOCKHOLM, April 25 (Reuters) – Volvo, the
world’s No. 2 truck maker, posted a surprise rise in
first-quarter orders and said it would step up production,
adding to signs a protracted slump in key markets like Europe
may be coming to an end.

The Swedish group, which makes heavy-duty trucks under the
Renault, Mack, UD Trucks and Eicher brands as well as its own
name, said on Thursday orders rose 11 percent year-on-year
compared with a 15 percent fall forecast by analysts.

Apr 23, 2013

Sandvik profit misses forecast as mining orders slump

STOCKHOLM, April 23 (Reuters) – Swedish machinery and tool
maker Sandvik posted a bigger-than-expected 33 percent
drop in first-quarter operating profit, adding to signs that
miners are cutting back spending amid sliding commodities
prices.

Sandvik, which along with domestic rival Atlas Copco
supplies more than half the global market for
underground mining gear like drill rigs and crushers, said on
Tuesday mining orders dropped 30 percent in the quarter,
excluding currency swings.

Apr 17, 2013

SKF shares rally after CEO more positive on second half

STOCKHOLM, April 17 (Reuters) – Industrial bellwether SKF
Inc, the world’s biggest bearings maker, expects
demand to stay flat in the next few months before an improvement
in conditions in some of its major markets emerges later in the
year.

The Swedish company, a gauge of manufacturing activity as
its bearings are used in sectors ranging from household
appliances to nuclear power plants, has suffered five straight
quarterly falls in sales volume, including a 9 percent drop in
the first quarter.

Apr 8, 2013

Ericsson to buy Microsoft IPTV business

STOCKHOLM, April 8 (Reuters) – Telecom equipment maker
Ericsson said it had struck a deal to buy Microsoft
Corp’s Mediaroom IPTV business, which makes software
used by phone companies to deliver television over the Internet.

Ericsson said it expected to close the deal for the
business, which employs more than 400 people worldwide, during
the second half of 2013. It did not disclose a purchase price,
though a company official provided a ballpark figure.

Apr 2, 2013

Tele2 sees further gains in $3.5 bln sale of Russia unit

STOCKHOLM, April 2 (Reuters) – Tele2 said it
stood to gain more than the $3.5 billion price agreed for its
Russian unit if the buyer sells it again within a year, as the
Swedish telecoms group tries to fend off competing bids from
industry rivals.

Tele2 Russia’s competitors MTS, Vimpelcom
and billionaire Mikhail Fridman’s A1 group are trying to
overturn Tele2′s decision to sell the business to
state-controlled bank VTB, hoping to get rid of a
cut-price rival.

Mar 28, 2013

Russia’s Fridman may spark Tele2 bid battle

MOSCOW/STOCKHOLM, March 28 (Reuters) – Russian billionaire
Mikhail Fridman is ready to trump state bank VTB’s
deal to buy Tele2′s Russian division and is
considering an offer for the whole of the Nordic telecoms group.

Fridman’s investment partnership A1 said on Thursday it was
prepared to make an all-cash bid of $3.6-$4 billion for Tele2′s
Russian arm, which would top an agreed sale to VTB that puts an
enterprise value, or equity plus debt, on the business of $3.5
billion.

Mar 27, 2013

From tuna to tech, Hexagon breaks Swedish mould

STOCKHOLM, March 27 (Reuters) – In the shadow of well-known
brands like Volvo and Ericsson, an acquisition-packed decade has
made technology firm Hexagon one of Sweden’s most
valuable companies and a rare newcomer among its top blue chips.

The company, market leader in precision measurement
technology used in fields from microchip making to surveying dam
construction, is now worth more than Swedish world number two
white goods maker Electrolux after taking its
business so far from its roots as to be unrecognisable.

Mar 26, 2013

Autoliv looks for deals to expand in high-tech car safety

STOCKHOLM, March 26 (Reuters) – Autoliv, the
world’s biggest maker of car safety equipment, is on the look
out for acquisitions in new high-tech areas, enticed by strong
growth prospects for products that can help cars to avoid
accidents.

Chief Executive Jan Carlson said Autoliv was keen to expand
into this new technology that includes sensors and radar but
that there were few companies willing to sell.

Mar 18, 2013

STMicro, Ericsson split mobile chip unit, 1,600 jobs go

PARIS/STOCKHOLM (Reuters) – STMicroelectronics and Ericsson will close their loss-making mobile chip joint venture ST-Ericsson by dividing parts of the business between them and shutting the rest with the loss of about 1,600 jobs.

The announcement ends months of speculation about the future of ST-Ericsson, which has been hit by a big drop in orders from top customer Nokia as the phone maker lost market share to Apple and Samsung.