Latest news with #Iveco
Reuters
15-05-2025
- Automotive
- Reuters
Iveco approves spinoff plan for defence unit as it considers its sale
MILAN, May 15 (Reuters) - Italian truck and bus maker Iveco Group ( opens new tab said on Thursday it will press ahead with a plan to spin off its defence business while exploring interest from potential buyers for the unit. The group, controlled by Exor ( opens new tab, the investment company of Italy's Agnelli family, said in February it was considering spinning off the unit, known as IDV, to simplify its structure and create greater flexibility for both businesses, adding it would provide an update in the following months. The separation is expected to take place this year, the company said. The group said it had received preliminary expressions of interest from potential strategic buyers for its defence business. "The board has therefore mandated the management to continue the preparation for the spinoff, while exploring such preliminary interests," it added. Leonardo ( opens new tab, together with Germany's Rheinmetall ( opens new tab, has filed a non-binding offer for IDV, the CEO of the Italian aerospace and defence said last week without providing further details. According to a media report earlier this week Spanish defence company Indra ( opens new tab also sent a non-binding offer. The announcement came as Iveco posted a 42% contraction of the adjusted operating profit of its industrial activities for the first quarter of the year, to 117 million euros ($131 million), due to lower truck demand in Europe. The result was short of a 140 million euro analyst consensus provided by the company. Iveco also confirmed its preliminary forecasts for its full-year results, including one for adjusted EBIT from industrial activities of between 850 and 900 million euros, with CEO Olof Persson mentioning a "strong order book" for the company. ($1 = 0.8937 euros)
Wall Street Journal
15-05-2025
- Automotive
- Wall Street Journal
Iveco to Continue Defense Spinoff Preparations While Considering Sale
Iveco IVG 0.09%increase; green up pointing triangle Group said it would continue to prepare for a spinoff of its defense unit while it explores interest in the business from potential buyers. The Italian truck maker said it recently received preliminary expressions of interest for its defense business from potential buyers and the company's board mandated management to explore them while continuing with work for a possible spinoff.
Reuters
12-05-2025
- Business
- Reuters
Spain's Indra seeks to buy Iveco's defence business, El Economista reports
MADRID, May 12 (Reuters) - Spanish defence company Indra ( opens new tab sent a non-binding offer for Italian group Iveco's defence business, newspaper El Economista reported on Monday, citing unidentified market sources. Iveco's unit, which assembles armoured military vehicles, is worth about 1 billion euros ($1.12 billion), El Economista reported. Indra and Iveco did not immediately respond to requests for comment. Indra's bid follows another by Italian aerospace and defence firm Leonardo ( opens new tab and Germany's Rheinmetall ( opens new tab for Iveco's defence unit announced last week by Leonardo's Chief Executive Roberto Cingolani. Indra, which is 28% owned by Spanish state-owned fund SEPI, is set to benefit from the government's plan to increase defence spending by more than 10 billion euros this year. ($1 = 0.8915 euros)
Forbes
06-05-2025
- Automotive
- Forbes
Spain-Portugal Blackout: Lessons Learned Amid Supply Chain Shockwaves
Industrial port de Barcelona in evening. Spain getty After a nearly daylong power outage that disrupted life for millions across Spain and Portugal, authorities in both countries remain uncertain about the cause. Some experts suggest a rare atmospheric phenomenon caused sudden temperature fluctuations that interfered with high-voltage power lines, leading to grid instability. Others suspect Spain's heavy reliance on solar and wind energy might have backfired when renewable output dropped faster than backup systems could handle. While no evidence of cyberattacks has been found yet, the possibility of external disruptions remains under investigation. Whatever the root cause, one thing's crystal clear: blackouts like this don't just switch off the lights; they send shockwaves through global supply chains, turning a local outage into a worldwide headache. Spain and Portugal serve as vital gateways connecting Europe, Africa, and the Americas, enabling smooth movement of goods across continents. Spain boasts one of Europe's largest logistics markets, supported by extensive rail networks and an 8,000-kilometer coastline. Forbes Earth Day 2025: Supply Chains Hold The Key To A Sustainable Future By Richard Howells Portugal complements this with a focus on quality production and key logistics hubs near Lisbon and Porto that link Atlantic trade routes with European markets. Together, their developed transport corridors and investments in sustainable logistics make them essential nodes in global trade. Any disruption here does not merely flicker locally but sends ripples through international supply chains, impacting industries and consumers worldwide. Who felt the heat? Five big Spanish oil refineries stopped refining fuels, plastics, and chemicals, including Spain's second larger refinery operator. Two other refineries ceased operations, tightening the supply of bunker fuel that keeps ships running. Car manufacturers had to halt production , threatening delays at overseas assembly plants that rely on Iberian parts. Major automakers like Ford and SEAT stopped their production lines. Similarly, truck manufacturer Iveco paused operations at its factories in Madrid and Valladolid while waiting for power restoration. This stoppage disrupted supply of parts, potentially affecting assembly plants abroad that depend on car parts from these facilities. Expectedly, food processors faced spoilage risks and missed export deadlines. As a region exporting a large amount of seafood, fruits, and vegetables, food supply chains faced with spoilage risks, shipment delays, and lost export opportunities. Just the meat industry got 190 million euros hit due to refrigeration systems failing. How AI helps supply chains to fight back Businesses, shipping companies, and manufacturers do not have to tackle all these challenges on their own. AI-powered systems enable all supply chain stakeholders about disruptions and alternative plans simultaneously. Spain's major ports-Algeciras, Valencia, Barcelona slowed down their operations because of fuel shortages and power outages. This caused delays in handling cargo and led to ships waiting longer than usual. Ships queued up, waiting longer than usual, prompting many to reroute to North African and Italian ports. Forbes AI Leadership: How To Elevate Your Team Through Human Ingenuity By Namita Gupta-Hehl AI algorithms can instantly recalculate the most efficient shipping routes, taking into account both costs and the condition of the goods, especially for the shipments that need cold chain. Changing routes meaning businesses have to use more fuel, which raises the cost of shipping. This extra fuel demand is also causing shortages of bunker the fuel ships at other ports in southern Europe. Machine learning models can forecast port congestion patterns, helping shippers to avoid bottlenecks before they form. Manufacturers are focusing on their most critical suppliers and diversifying sourcing to avoid part shortages, especially in automotive and electronics sectors. During partial outages, business AI can prioritize power allocation to critical production processes while temporarily scaling back non-essential operations. Fostering resilience with supply chain diversification Putting all your eggs in one supplier's basket in 2025? That's a recipe for empty shelves when the disruption hits. Whether it's a bridge collapsing, a huge shipment going sideways in a super busy canal that keeps the canal closed over weeks, or electricity takes an unexpected coffee break nationwide, what could save the supply chains is reducing over dependencies . Forbes Easter Chocolate Demand Creates Supply Chain Squeeze By Oyku Ilgar Instead of simply reacting to disruptions, companies need a proactive, long-term strategy. In fact, nearly one-third of businesses are adopting a dual supply chain approach, maintaining both global and local options. By diversifying suppliers across multiple partners and regions, companies can better manage risks, keep operations running smoothly, and build resilient supply chains. Business Network collaboration platforms play a crucial role in this strategy. They not only help identify suppliers at risk but also offer alternative sources of supply and collaborative tools to ensure rapid and precise management of disruptions. In today's volatile trade environment, resilience, agility, and adaptability are not just advantages but are essential for businesses to survive and thrive. The recent Spain-Portugal blackout underscores a larger reality: even local outages can quickly spiral into global headaches, causing more cost and complexity for the shippers, manufacturers, and consumers worldwide. Rather than being re-active to the undesired global events, companies should focus on building resilient, agile, and adaptable supply chains by combining the right technologies with the right strategies-rather than trying to predict the unpredictable in a complex global trade environment. Want to understand what's driving supply chain resilience today? Explore how leveraging analytics can help companies better manage their assets and resources, turning constant uncertainty into opportunities for smoother, read the IDC Analyst Connection: Guiding Optimal Supply Chain Performance with Artificial Intelligence
Western Telegraph
27-04-2025
- Western Telegraph
Tributes to ‘much-loved' ex-RAF pilot killed in road crash
The collision happened on the A96 Aberdeen to Elgin road, near Huntly, Aberdeenshire at around 11am on Wednesday April 23. Police said Keith Looseley, 78, who was driving the car, was pronounced dead at the scene. Keith was a devoted and much-loved father, grandfather, brother and son and his loss is felt deeply by all who knew him Family of Keith Looseley His family paid tribute to him in a statement issued through police, and also thanked emergency services and members of the pubic who helped at the scene. They said: 'Keith was a former RAF pilot who had lived in Gartly for over 25 years. 'He was an active and valued member of the local community who volunteered with Gordon Rural Action and Morayvia aviation museum. 'Keith was a devoted and much-loved father, grandfather, brother and son and his loss is felt deeply by all who knew him. 'We would like to thank the members of the public who provided assistance in the immediate aftermath of the collision and the police officers and paramedics for all of their efforts at the scene.' Mr Looseley was from the Aberdeenshire area. The road was closed for around seven and a half hours for investigations following the crash, which involved a black Skoda Kamiq and a white Iveco lorry. There were no other reported injuries. Police are appealing for information. Sergeant Pete Henderson said: 'Our thoughts are very much with Keith's family and friends at this difficult time. 'Inquiries to establish the full circumstances of the crash are ongoing and we would ask anyone who witnessed the incident, or who has dash-cam footage from the area, to please get in touch.' Anyone with information is asked to contact Police Scotland on 101, quoting incident number 1138 of April 23 2025.
