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Vehicle production – February 2006

Commercial vehicle production up 1.1 per cent Car production down 8.6 per cent Total UK vehicle production down 7.5 per cent in February Commercial vehicles: ‘Improvements in efficiency, on top of strong export demand, have helped boost CV production’, commented Christopher Macgowan, SMMT chief executive. ‘Leyland, in particular, benefited from strong orders last Autumn, and these are reflected in latest figures. Overall, export production has driven growth, up 13.1 per cent in February and 11.8 per cent over the year to date.’ Cars: ‘As we near the anniversary of the closure of production at MG Rover, car production figures for the UK continue to be affected by this loss’, commented Christopher Macgowan, SMMT chief executive. ‘Over three-quarters of the 8.6 per cent drop in February can be attributed to Longbridge. However, significant growth at both Land Rover and Toyota, and solid output at other big plants, demonstrates that production in the UK remains healthy.’ Full details, and February’s special manufacturer focus on Leyland Trucks can be downloaded below. DownloadClick to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more

Joy Global buys deeper into Chinabased International Mining Machinery Holdings

first_imgJoy Global a worldwide leader in high productivity mining solutions, has purchased approximately 136.5 million shares of International Mining Machinery Holdings (IMM). These shares were purchased on the open market and represent 10.5% of the total shares outstanding. The purchase of these shares is in addition to Joy Global’s announcement on July 14 that it had agreed to purchase from TJCC Holdings 534.8 million shares of IMM, representing 41.1% of IMM shares outstanding.The purchase of shares from TJCC is subject to approval from the Anti-monopoly Bureau of the Ministry of Commerce (MOFCOM) of China and the satisfaction of other customary closing conditions.IMM is a leading designer and manufacturer of underground longwall coal mining equipment in China. It has strong domestic market positions in roadheaders and longwall shearing machines, and is growing the share of its armored-face conveyor and electric control systems businesses. In addition to original equipment, IMM provides aftermarket parts and services through a broad network of service and warehouse locations.Joy Global is a worldwide leader in manufacturing, servicing and distributing equipment for surface mining through P&H Mining Equipment and underground mining through Joy Mining Machinery.last_img read more