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BYD TO BUY BUS MAKER IN HUNAN AND EXPAND OUTPUT

China's BYD company, manufacturer of rechargeable batteries and automobile maker, has agreed to buy an ailing bus maker Hunan Midea Coach for RMB 60 million (US$8.8 million) as it plans to expand its product lines and capacity through a series of moves. Shenzhen-based BYD said it will acquire the necessary licenses to produce buses and coaches as part of the deal, which it expects to complete within 15 days.

CHINA'S BEIQI FOTON TO SET UP ASSEMBLY PLANT IN INDONESIA

The China-based automotive manufacturer Beiqi Foton Motor has revealed plans to set up an assembling plant in Indonesia to support its aim of increasing its business in the Asia Pacific market, Bisnis Indonesia magazine recently reported.

STAGECOACH INVESTS £71M IN NEW BUSES

Stagecoach has confirmed details of a £71million investment in its greener, smarter bus fleet. The transport company announced earlier this year that it was to make a multi-million pound investment in hundreds of new vehicles to benefit customers across its provincial UK bus operations. In total, Stagecoach has ordered 434 new vehicles in 2009-10, to be introduced across the company's bus operations in Scotland, England and Wales.

INCREASED ORDER INTAKE FOR VOLVO BUS IN SECOND QUARTER

Volvo Bus signalises for the second quarter a continued negative market development, though the order intake increased with 38%, Nevertheless the quarter ended with a loss. The downturn in the global economy has resulted in a sharp decline in demand for coaches. Although demand for city buses remains, investments are affected by difficulties in finding financing solutions, resulting in a declining city bus market. Net sales in the second quarter increased by 9% to SEK 4,676 M (4,293). Adjusted for exchange-rate fluctuations, net sales decreased by 3%. The operating loss amounted to SEK 118 M, compared to an operating income of SEK 46 M for the second quarter of 2008.

EATON CORP COMBINES AUTOMOTIVE AND COMMERCIAL VEHICLE GROUPS

Eaton Corporation announced that Eaton’s Automotive and Truck Groups are being consolidated into one operating unit. The combined organization will be known as the Vehicle Group and supply the components for buses and coaches. The new Vehicle Group will continue to report to the Industrial Sector, along with Eaton’s aerospace and hydraulics businesses.