Volvo loses 840 mln skr Chilean bus order to DaimlerChrysler - report |
|
|
|
Published
:
Mon, 22 Jan 2007 09:17
|
STOCKHOLM (AFX) - AB Volvo has lost an 840 mln skr order from Chile's Buses Metropolitana, which has accused Volvo of failing to fulfil its obligations under the sale agreement, Dagens Industri reported.Volvo won the deal to deliver 500 buses to Buses Metropolitana for use in Santiago five months ago.The Brazilian development bank BNDES has announced it will provide finance for Buses Metropolitana to purchase 500 Mercedes buses from DaimlerChrysler AG. Dagens Industri said the BNDES finance package with DaimlerChrysler is cheaper than Volvo's, provided by HSBC.Volvo said it has begun talks with Buses Metropolitana over the issue, Dagens Industri reported.The setback comes as Volvo awaits a decision about another order for 500 buses to expand the city of Santiago's bus fleet, the newspaper said.gustav.sandstrom@thomson.comgs/jsaCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
Stockholm shares AFX at a glance outlook 