MAN to save 50 mln eur/yr at commercial vehicle arm

Newswire

FRANKFURT, July 27 (Reuters) - MAN AG said on Thursday it had concluded an agreement with labour representatives that would allow its commercial vehicles unit to save up to 50 million euros ($62.95 million) a year from structural improvements and investments. The German industrial conglomerate said in a statement the package included investments of 190 million euros up to 2012 aimed at boosting productivity, as well as longer working hours for employees of one to two hours per week.

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