Shrinking Demand Hits MAN Results
Publication date: Sat, 08/08/2009
German truck maker & engineering company MAN SE reported a sharp drop in net profit in the 2nd-Q as demand shriveled, & it sees no sign of improvement even into 2010. "Incoming orders are low and a turnaround is currently not in sight," it said. "We are expecting industrial production will take several years to recover after the sharp downturn." With Europe's truck market squeezed by declining demand, MAN's net profit fell 95% to
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