German Truck Maker MAN AG Reports Higher 4Q Profit

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European truck maker MAN AG’s fourth-quarter profit rose 22% on higher demand for commercial vehicles in eastern Europe, where economies grew twice as fast as in the company’s domestic market in Germany, Bloomberg reported.Net income increased to about $320 million or $2 a share, from $263 million or $1.40 a year earlier. Sales and profit will rise this year from 2006’s record levels, Chief Executive Officer Hakan Samuelsson said Tuesday, Bloomberg reported.Economies in eastern Europe, including Poland, the Czech Republic and Russia, have grown almost 5% every year since 2003, according to the International Monetary Fund. MAN is building a factory near Krakow, Poland, to handle growing demand, Bloomberg reported.MAN abandoned plans for a hostile takeover of Swedish truck maker Scania last month. (Click here for previous coverage.)