MAN improves and denies de
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REPORTS that Bedford may be on the point of taking over MA commercial vehicle business have effectively been denied by b companies this week.
An analysis of the European commercial vehicle market in The Times last week reported that MAN's commercial vehicle business — part of a much larger industrial conglomorate — was unofficially for sale, and that Bedford was rumoured to be interested in buying it as part of the General Motors "World Truck" project.
A Bedford spokesman said this week that he was unaware of any specific interest in MAN, or any other company, and MAN commercial vehicle chief Wilfred Lochte said there were no plans for any new co-operation agreements with any manufacturers, although they could not be ruled out for the future.
Meanwhile, Mr Lochte has told shareholders that, after one of the toughest trading year: record, MAN believes the w is over and reports that arc for new lorries are now 25 cent higher than a year ago.
The West German manu turer has warned sharehold that it expects to make operating loss of about £7 during the financial year ends June 30.
After making a small prof less than £10m last year IN., slipped into the red with fal demands for its vehicles home and overseas, particul in the Opec countries.
Last year was "one of most difficult" ever experien with about 4,000 emplo) made redundant at various : man plants and the work fl has now been reduced to 45, During the financial year II sold only 16,000 lorries at six tonnes (including MAN/VW MT range) comp: with 24,000 in the previou: months, a fall of 40 per cent.
The deterioration was r marked in overseas market 1981 the company exported per cent of production. dropped to 67 per cent in ' and dwindled to a mere 38 cent during the first part of year.