Ford's Vehicles Top The Big Three In Reducing Auto
Pollution.(Brief Article)
Ford Motor Co. showed the most marked improvement in
auto-pollution abatement among the top six suppliers in the U.S.,
according to a biennial survey released by the Union of Concerned
Scientists. . . .
SmarTire Signs New Tire Monitoring Contract.(Brief
Article)
SmarTire Systems Inc. received an eight-year contract from an
undisclosed European car manufacturer. SmarTire said it expects revenue
between $3.7 million and $6.2 million over the life of the . . .
Ford Plans To Change Three Light Truck Plants To Flexible
Manufacturing.(Brief Article)
Ford Motor Co. said it plans to switch three of its North American
plants to flexible manufacturing operations. The plants, which are
located in Norfolk, Va.; Kansas City, Kan.; and Dearborn, . . .
MTU Expands Drive Shaft Business In North American
Market.
MTU Drive Shafts, a unit of DaimlerChrysler and the world's
largest manufacturer of passenger-car drive shafts, said it is setting
up a new U.S. subsidiary and manufacturing operation in . . .
Opel Considering Sale Of Some Of Its Parts Units In 2003.(Brief
Article)
German-based Adam Opel AG, a unit of General Motors, won't
likely reach deals to sell or form joint ventures for some auto parts
units until 2003, people close to the company said. The . . .
Ford's Pension Liability Shrinks.(Brief Article)
Ford Motor Co. said that underfunding of its U.S. pension plan had
narrowed by about $1 billion thanks to the improvement in world equity
markets over the past month. "In the U.S., at the end of . . .
Dana To Sell Brake and Clutch Business To European Private Equity
Firm.(Brief Article)
Dana Corp. said it will sell its FTE brake and clutch actuation
systems operations based in Germany for undisclosed terms to HgCapital,
a European private equity finance company.
FTE makes . . .
TDS/US Inc. To Open Facility In Virginia.(Brief Article)
Michigan-based TDS/US Inc. will launch an auto parts-management
operation in Chesapeake, Virginia, creating about 210 new jobs, the
Virginia Pilot newspaper reported. TDS/US Inc. will handle . . .
Chrysler Will Add Two New Models In The Next Five Years;
Production Costs Are Pared.(Brief Article)
As a result of its cost containment effort, the Chrysler unit of
DaimlerChrysler will be able to add two new models to its product over
the next five years. The company's efforts have shaved about . . .
New Board Positions Created By MEMA.(Motor & Equipment
Manufacturers Association)(Brief Article)
The Motor & Equipment Manufacturers Association (MEMA)
recently created three new positions on its Board of Directors,
representing MEMA's market segment divisions: aftermarket --
Automotive . . .
North American Auto Production Estimate Lowered To 16.1 Million
Units In 2003.(Brief Article)
J.D. Power and Associates has lowered its 2003 North American
light-vehicle production forecast to 16.1 million units. "Our
concerns with growing domestic inventories and the fact that . . .
New S&P Analysis Says Big Three Face Big Challenges.
Despite extensive, ongoing restructuring actions to restore their
financial performance to more acceptable levels, the Big 3
automakers--General Motors Corp., Ford Motor Co., and . . .
Weak Yen Harms U.S. Auto Industry, Ford Said.(Brief
Article)
The weak yen gives Japanese automotive producers a 30 percent
profit advantage over their U.S. competitors, according to Ford and
General Motors Corp.
"There's a certain irony in that the . . .
Auto Parts Industry Seeks Relief From Higher Steel
Tariffs.
A number of U.S. automotive suppliers have filed for exclusions
from the high tariffs imposed by the Bush administration. Companies that
have filed range from Tier 1 producers to small Tier 3 . . .
Rouge Industries Posts Higher Third Quarter Earnings.(Brief
Article)
Rouge Industries, Inc. reported net income of $5.3 million, or
$0.24 per share, in the third quarter of 2002, an improvement of $14.0
million or $0.63 per share from the second quarter of 2002. . . .
R&B Reports Higher Income In Third Quarter.(Brief
Article)
R&B, Inc. reported sales for the third fiscal quarter ended
September 28, 2002, declined slightly to $53.9 million from $54.2
million in the same period last year. Third quarter sales increased . . .
Dana Corp. Reports Third-Quarter Earnings.(Brief Article)
Dana Corp. said it recorded improved third-quarter sales and
operating earnings strengthened by sustained progress in its
restructuring actions. Sales for the period were $2.6 billion, up . . .
Advance Auto Parts To File Registration Statement.(Brief
Article)
Advance Auto Parts, Inc. said that it has received notice from
Sears, Roebuck and Co. that it is exercising its rights to demand a
registration covering the sale of its 8,423,937 shares of common . . .
Autoliv Said It Buy Back Stock.(Brief Article)
Autoliv Inc. sais it has re-initiated its stock repurchasing
program under the existing authorization from May 2000,
which authorized management to buy back up to 10 million . . .
SPX's Third Quarter Results Climb.(Brief Article)
SPX Corp. said revenues for the third quarter 2002 were $1.29
billion and earnings were $1.82 per share, or $2.25 per share before
special items.
Reported third quarter earnings of $1.82 per . . .
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