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Heavy Machinery & Vehicles

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Cargotec ends statutory cooperation negotiations; cuts 230 jobs

2:59am EST

Cargotec Oyj : Finalises the statutory cooperation negotiations regarding its programme to achieve annual cost savings of about 25 million euros ($26.87 million) in MacGregor . Negotiations have been finalised resulting in restructuring of operations and reducing of 230 full-time equivalents globally . Measures are affecting especially macgregor operations in China, Finland, Norway, Singapore and Sweden . Made an agreement to sell assets of its production facility in Uetersen, Germany, to Uetersener Maschinenfabrik GmbH .Above measures result in restructuring costs of 31.5 million euros in final quarter of 2016.

China First Heavy expects second straight year of loss in 2016

2:55am EST

China First Heavy Industries <601106.SS> :Says it faces risks of implementing delisting risk warning as it expects to record net losses for second straight year in 2016.

China First Heavy expects 2016 net loss to widen due to market slump

2:45am EST

China First Heavy Industries <601106.SS> :Says it expects 2016 net loss to widen to about 5.7 billion yuan ($831.45 million) from 1.8 billion yuan year ago.

Kubota looks to expand rice production capacity in Thailand - Nikkei

Friday, 20 Jan 2017 04:24pm EST

: Japanese machinery maker Kubota looks to expand production capacity by 50% for rice combine harvesters in Thailand - Nikkei . Kubota intends to spend roughly 3 billion yen ($26.1 million) to expand capacity in Thailand - Nikkei Source (http://s.nikkei.com/2jWrghU) Further company coverage: [6326.T] ((Bangalore.newsroom@thomsonreuters.com;)).


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