MAN SE says wins major order in recession-hit Brazil

miércoles 24 de septiembre de 2014 13:10 GYT

* MAN to deliver chassis, engines for 750 buses to Brazil

* Overall bus order worth about 70 mln euros -spokesman

* MAN keeps to Brazil investments despite recession

BERLIN, Sept 24 (Reuters) - German truckmaker MAN SE's Latin America division won its second-biggest bus order in Brazil even as the region's largest economy grapples with recession.

Munich-based MAN, owned by Volkswagen AG, will deliver chassis and engines for 750 buses to the city of Salvador, a spokesman said, as part of an overall order including components and parts from other suppliers worth about 70 million euros ($89 million).

Authorities in Salvador are switching from a state-owned transport system to a partly privatised structure, the spokesman said, creating opportunities for companies such as MAN.

MAN's Latin America unit, which saw its first-half operating profit plunge by more than a third to 67 million euros, will keep to plans to invest 1 billion reals over the five years to 2017, the spokesman said.

Brazil's economy fell into recession in the first half of the year as investment dropped sharply and the country's hosting of the World Cup suffocated economic activity. (1 US dollar = 0.7824 euro) (Reporting by Andreas Cremer; Editing by David Holmes)