Scania Unveils New Organization Following Northvolt Acquisition
Scania presents a new organization that will increase the truck manufacturer's investments in electrification.
Business
Scania to Cut 750 Jobs in Sweden Amid Organizational Restructuring
The truck manufacturer Scania is giving notice to "meet current conditions and future needs", the company states in a press release. 750 positions will be eliminated in Sweden.
BusinessTop news
Northvolt Bankruptcy: American Lyten Acquires Estate, Hope Revived
During the spring, potential buyers of Northvolt's bankruptcy estate withdrew. The plan was to completely close down the operations after the summer. But some never gave up hope, says the trustee Mikael Kubu at a press conference in Skellefteå on the occasion of the American Lytens acquisition.
BusinessTop news
Scania's China Factory Investment Shines Amid Tariff Challenges
Scania is preparing to pick the fruits of the major investment in China. At the same time, the parent company Traton is cutting the forecast for the full year after uncertainty in the USA. It has never been more difficult to predict the market than it is today, says CEO Christian Levin.
Business
Sweden Donates New Archer Artillery Barrels to Ukraine
Sweden will donate, among other things, new barrels for the Archer artillery system to Ukraine. Those already in use in the war are being worn out.
Sweden
Stockholm Exchange Falls Despite Low US Inflation
A slightly lower underlying inflation than expected in the USA in May was received positively on Wall Street. But the Stockholm stock exchange fell.
Business
Property and Seko Warn of Strike Over Cleaner Overtime Dispute
Property and Seko terminate the collective agreement for cleaners in the private sector with Almega and warn of strike, the trade unions announce in a press release.
Business
Plan for Tunnel Under Södertälje Canal Gains Support from Major Employers
A tunnel under Södertälje canal is needed, believe both the municipality and two of the country's largest employers: Scania and Astra Zeneca.
BusinessTop news
Northvolt Production in Skellefteå to Halt by June 30
The production at Northvolt's battery factory in Skellefteå is being scaled down to be stopped completely on June 30, announces the trustee. Vehicle manufacturer Scania says it was no longer possible to be the sole customer holding Northvolt under its arms.
Business
Northvolt Faces $40 Million Legal Fees in US Bankruptcy Process
Northvolt's attempt to save the company in a so-called Chapter 11 process in the USA became a costly story.
Business
Scania CEO: We Shouldn't Own Northvolt Factory
The truck manufacturer Scania does not see itself as the actor that should rescue the bankrupt Northvolt factory in Skellefteå or the development operations in Västerås from closure. Our role is primarily to be a customer, says Scania's CEO Christian Levin.
Business
Traton Lowers North America Truck Sales Forecast Amid Tariff Impact
Scania owner Traton – Volkswagen's truck subsidiary – is lowering its forecast for North America due to the Trump administration's tariffs. At the subsidiary International's factory in Mexico, a shift has just been cancelled. 900 people have had to leave the company, says Traton CEO Christian Levin.
Business
Scania acquires Northvolt operation
The truck manufacturer Scania is acquiring Northvolt Systems' industrial division, writes Scania in a press release. The business – which includes production, research, and development – comprises 260 employees in Stockholm and Gdansk, Poland.
Business
Scania Secures Major 2,000-Bus Deal with Lagos, Nigeria
Scania is to sell 2,000 biogas-powered buses to Lagos in Nigeria. The major order was finalized in connection with the Swedish trade office opening in Nigeria on Tuesday.
Business
Northvolt Trustee: Hopes to Save Operations
The trustee Mikael Kubu has taken over the responsibility for Northvolt, since the district court has declared the battery manufacturer bankrupt. We are investigating the conditions for being able to maintain production, he says. The major customer and lender Scania will be an important counterpart for Kubu in the process.
Business
Stock Market Plunge after Trump's Tariff Announcement
The Stockholm stock exchange's downturn was reinforced after President Donald Trump's statement about doubled steel tariffs against Canada. At closing, the OMXS index is down 2.1 percent.
Business
CEO: Geopolitical crisis can be a boost for Scania
The Scania CEO Christian Levin is worried about the geopolitical crisis in the wake of the Trump administration's takeover. But signals that Europe – with Germany at the forefront – is facing massive investments in defense and infrastructure could put money in the coffers for both Scania and the German parent company Traton.
Business
The Stockholm Stock Exchange closed in the red
The Stockholm stock exchange's initial trading on the week's first trading day offered a weak upturn – but then turned and at closing the OMXS index was down 1.0 percent.
Business
Record bonus for Scania employees
The truck manufacturer Scania is hitting with a record bonus to the employees. The message to approximately 20,000 coworkers comes in connection with the financial report for 2024. But the parent company Traton's share falls after an unexpectedly weak forecast.
Business
