Logistics And Frieght Forwarding

BRIEF-Volvo forecasts slower truck markets in Europe, North America in 2017

Oct 21 Volvo

* Volvo sees FY2017 european truck market of 280,000 units

* Volvo sees FY2017 north american truck market of 215,000 units

* Volvo sees FY2017 brazilian truck market of 35,000 units

* Volvo sees FY2016 european truck market of 295,000 units versus previous forecast 290,000 units

* Volvo sees FY2016 north american truck market of 240,000 units versus previous forecast 240,000 units

* Volvo sees FY2016 brazilian truck market of 30,000 units versus previous forecast 30,000 units

* Says volumes in our truck business were down in all markets except europe where activity remained high

* Volvo sees FY2017 china construction equipment market flat to up 10 percent

* Volvo sees fy2016 china construction equipment market -10 percent to unchanged versus previous forecast decline of 5-15 percent

* Says production volumes have gradually been adjusted downwards to meet the lower demand and further steps will be taken

* Says focus will be on the service business and continuous improvements

* Says we see no immediate increase of demand and continue the internal work to focus on Volvo CE’s strongholds

* Volvo Q3 trucks order intake 39,480 units versus mean forecast 39,139 units in reuters poll

* Says given current market conditions we will continue to have strong focus on cost control and optimized utilization of our regional value-chains

* Says the downward correction in the north american market continued and there is still a need to take down dealer inventories.

Source text for Eikon: Further company coverage: (Reporting By Niklas Pollard)

Next In Earnings Season

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* Dominion midstream partners LP says Dominion Midstream GP LLC has declared a third-quarter 2016 cash distribution of £0.2475 per unit

BRIEF-Tower International increases dividend by 10 pct to £0.11 per share

* Sets regular quarterly dividend of £0.11per share Source text for Eikon: Further company coverage:

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* Bank of the James announces third quarter, nine months of 2016 financial results and declaration of dividend

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