STOCKHOLM, March 21 (Reuters) – Geely-owned Volvo Car Group
returned to a solid profit last year as firmer sales, above all
in China, and a firm lid on costs helped it overcome a weak
start to 2013 and lingering weakness in the U.S. market.
The company, one of Sweden’s biggest by sales and number of
employees, is banking on strong sales of increasingly
locally-made Volvos in China to reach a target of roughly
doubling sales by 2020 and securing its future in a cut-throat
STOCKHOLM (Reuters) – Scania’s minority shareholders should reject Volkswagen’s 6.7 billion euro (£5.61 billion) bid, the Swedish truckmaker’s independent directors said, underlining a deep rift within the company.
The recommendation by the members of Scania’s board with no direct links to VW is a setback for the German automaker, which is trying to forge a closer-knit trucks group capable of taking on market leaders Daimler and Volvo.
STOCKHOLM, March 18 (Reuters) – Scania’s minority
shareholders should reject Volkswagen’s 6.7 billion euro ($9.3
billion) bid, the Swedish truckmaker’s independent directors
said, underlining a deep rift within the company.
The recommendation by the members of Scania’s board with no
direct links to VW is a setback for the German
automaker, which is trying to forge a closer-knit trucks group
capable of taking on market leaders Daimler and Volvo
STOCKHOLM, March 7 (Reuters) – Medical technology group
Getinge AB has warned of a sharp fall in
first-quarter earnings and said it faced more than a year of
heavy spending to boost its quality controls, sending its stock
down nearly 20 percent to an 11-month low.
The profit warning is the third in just over a year from the
Swedish company, a maker of surgical theatre equipment such as
products for heart surgery and anaesthesia, and the company’s
chief admitted executives may have failed to manage effectively
following rapid growth in recent years.
STOCKHOLM, Feb 6 (Reuters) – World No.2 truck maker Volvo
will increase its job cuts to 4,400, more than double
its original plan, after currency effects and the cost of
launching new models muted a rise in quarterly earnings.
But Sweden’s biggest private sector employer also unveiled a
stronger-than-expected order intake in the fourth quarter on
growth in North America, sending shares more than 4 percent
higher by 0800 GMT to outperform the broader market in Stockholm
STOCKHOLM (Reuters) – Truck maker Scania (SCVb.ST: Quote, Profile, Research, Stock Buzz) said on Wednesday it was cutting production and jobs as a boom in European demand for older models ahead of new emission rules burned out, reflected in a deeper-than-expected fall in fourth-quarter order bookings.
Heavy-duty truck makers saw orders climb in Europe last year, spurred by a growing need to replace ageing fleets and a surge in purchases of older but cheaper models ahead of new emission rules coming into force at year-end.
STOCKHOLM, Jan 28 (Reuters) – SKF, the world’s
biggest bearings maker, has lifted prices, forecasting higher
demand in the coming months as an economic recovery takes hold
on both sides of the North Atlantic and eclipses a slowdown in
some emerging markets.
The firm, a bellwether for global manufacturing with its
bearings used in products from dishwashers to wind turbines,
said on Tuesday it had rolled out list price increases of around
three percent in Europe, North America and parts of Asia – the
first increases in the former two regions in about 18 months.
STOCKHOLM, Dec 19 (Reuters) – Shares in Swedish aerospace
firm Saab leapt by a quarter on Thursday after it
beat U.S. and French rivals to win a $4.5 billion fighter deal
with Brazil, strengthening its hand in competing for export
orders for years to come.
Brazil’s choice of Saab’s Gripen single engine jet over
Boeing’s F/A-18 Super Hornet and Dassault Aviation’s
Rafale showed the Nordic group could beat global
aviation heavyweights, securing development of an aircraft that
has been surrounded by doubts.
STOCKHOLM, Dec 10 (Reuters) – Shares in bath and toilet
maker Sanitec jumped on their first day of trading
after Sweden’s biggest listing in seven years met with strong
demand from investors betting on a pick up in Europe’s
long-suffering construction industry.
The stock rose as much as 6 percent in early Tuesday trading
to hit 64.75 Swedish crowns. That compared with the offering
price of 61 crowns per share and valued the group at around 6.5
billion Swedish crowns ($994 million).
STOCKHOLM (Reuters) – When one of the biggest private education firms in Sweden went bankrupt earlier this year, it left 11,000 students in the lurch and made Stockholm rethink its pioneering market reform of the state schools system.
School shutdowns and deteriorating results have taken the shine off an education model admired and emulated around the world, in Britain in particular.