Gloomy new from MAN
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REDUNDANCIES, a sharp cu. the shareholders' dividend an steep fall in profits were ported this month from MAN
Worldwide economic rec sion prevented MAN from m ing good its poor performanci its West German home mar by better exports.
Lorry production, which counts for 35 per cent of MA sales, was the worst hit, accc ing to chairman Otto Voisard.
Heavy losses incurred by company's subsidiary in Arg tina resulted in a profit of o DM.31.6m (£8.2 m) for t 1981/82 financial year, cc pared to DM. 50.16m in 1980/I As a result shareholders I receive a dividend of only ei! per cent compared to t previous 14 per cent.
Since October the compi has begun to reduce workforce by 1,700 people ‘fi per cent) — 740 of them in commercial vehicle plants Munich, Braunschweig and Si gitter.
The results for the first f months of the current linen( year (July-October) show signs of recovery.
Sales were down 15 per ci and orders plunged by 27 I cent compared to the sar period of 1981.
Export orders during the f months slumped by as much 48 per cent. The situation F "dramatically worsened" Mr Voisard.
A £9.68M contract has be awarded for a bypass of Stoi haven, on the A921A94 Per Aberdeen trunk road. The 81 dual carriageway will be Ix between January next year a June 1985.