Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Scania foresees slower growth

Share this article

15:06 CET+01:00
Truck maker Scania foresees slower growth on the European truck market in 2005 and at the same time warns of a recession in China.

Speaking at the company's capital market day in The Hague on Wednesday, Scania group VP Sales and Service Gunnar Rustad said "The situation as regards the dollar is uncertain and I see no growth in the European countries apart from Germany, Spain and possibly Italy."

He was also sceptical about the Chinese truck market and Scania will not be entering into any joint production venture in China in the foreseeable future.

"The Chinese market is very unstable and we see signs of a recession. Market prices have fallen lately," he said.

Rustad also warned that Scania would be raising its truck prices next year as a result of higher material and oil costs.

Barsebäck closes in 2005

The government yesterday informed power companies Vattenfall and Sydkraft that the second reactor at the Barsebäck nuclear power station would close on 31 May 2005.

However, Vattenfall press officer Martin May stresses that the date has not been finalised.

Upswing awaits SMEs

The tide has turned for Sweden's small and medium-sized enterprises according to Salvatore Grimaldi, chair of The Federation of Private Enterprises (Företagarna). After three rough year, a majority of Sweden's 80,000 SMEs have noted a significant increase in demand, particularly in the engineering and IT sectors. In addition, there is a high percentage of importers among Sweden's SMEs, most of who benefit from the dollar fall. Small subcontractors within the forest and automotive sectors lose out as a result of the weaker dollar.

Abertis acquires Skavsta Airport

Skavsta Airport, Sweden's only privately owned airport and base for Ryanair in Sweden, will have a new owner when Spanish Abertis acquires British TBI for some 7 billion crowns.

Björn Borg goes public

Worldwide Brand Management Holding AB, the company that launched the Björn Borg brand name, is to be listed on the Stockholm exchange's Nya marknaden.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

Supplied by BECK TRANSLATIONS.

With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.

Get notified about breaking news on The Local

Share this article

Advertisement
Advertisement
Advertisement
Jobs
Click here to start your job search
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement