Autoparts Report

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Delco Remy Acquires Danish Transmission Remanufacturer.(Brief Article)
Delco Remy International, Inc., said it has acquired Auto Matic Transmission (AMT), the Scandinavian automatic transmission remanufacturer, based at Copenhagen, Denmark. AMT remanufactures automatic . . .

Investment Ratings Raised For Truck, Engine Makers.
J.P. Morgan said it has increased its ratings on truck and engine makers Cummins Inc., Navistar International Corp. and PACCAR Inc. to "buy" from "market perform." Analyst Gary McManus said the stoc . . .

Visteon In New Round Of Lays Offs.
Visteon Corp. laid off more than 350 white-collar workers in early May, bringing to 1,300 the salaried employees handed pink slips over the past month by the auto parts supplier squeezed by slowed v . . .

Delphi's Said New Stop-Start System To Boost Fuel Economy.(Brief Article)
As fuel prices continue to escalate domestically, and around the world, Delphi Automotive Systems said its new stop-start system could help increase the urban fuel economy of smaller vehicles by mor . . .

Dana Corp. Selected To Supply Axles, Driveshafts The 2002 Jeep Liberty SUV.(Brief Article)
Dana Corp. said that it will supply rear main driveshafts and independent front and beam-style rear axles for DaimlerChrysler Corp.'s all-new 2002 Jeep Liberty sport utility vehicle. "Dana is deli . . .

Valeo Considering Closing Rochester, NY Parts Plant.
French auto parts manufacturer, Valeo, said it is considering closing its struggling plant in Rochester, NY if profits there did not improve rapidly. Valeo acquired the troubled Rochester plant, whi . . .

Ford To Upgrade Ontario, Canada Assembly Plant.(Brief Article)
Ford Motor Co. said it is investing $150 million (Cdn.) ($97.4 million) in an upgrade to Ford's St. Thomas, Ontario, Canada assembly plant to raise paint quality and improve corrosion protection on . . .

Toyota To Produce Automatic Transmissions In West Virginia.
Toyota Motor Manufacturing, West Virginia, Inc. (TMMWV) said it is the first Toyota facility outside Japan to build Toyota's automatic transmissions. Tomoya Toriumi, president and CEO of TMMWV, said . . .

Korean Parts Maker Opens Tennessee Facility.
Samlip America Inc., the largest Korean auto supplier, opened a new manufacturing facility in Clinton, Tenn. in May. This is the first Korean automobile parts manufacturer to locate in the state, a . . .

Ford To Buy Hybrid Engine Parts From Toyota Affiliate.
Aisin AW Co., a manufacturer affiliated with Toyota Motor Corp., said it will develop hybrid gas and electric power systems for Ford Motor Co. The preliminary agreement between Ford and Aisin AW C . . .

Telematics Market In Europe Expected To Reach $7.6 Billion In 2007.
Wireless interactive technology (Telematics ) is rapidly gaining a foothold in the European auto market with more competitors jumping in. According to a new study by Frost & Sullivan, "European Auto . . .

TechSys Says It Will Merge With Fuel Cell Inc.(Brief Article)
Techsys, Inc. said that it has agreed to merge with Fuel Cell Companies, Inc. (FCCI) a company that develops clean energy producing products employing fuel cells. FCCI is a management and marketing . . .

Motorola Forms Automotive Communications & Electronic Systems Group.(Brief Article)
In a move that reinforces its commitment to its automotive customers and positions itself for strategic growth, Motorola said it formed a new automotive communications and electronics group as part . . .

Some Peterbilt Trucks Will Have XM-Ready Radios Installed.(Brief Article)
XM-ready radios will be available in select Peterbilt trucks beginning the fourth quarter of this year, XM Satellite Radio said. Peterbilt Motors Co. manufactures custom-designed trucks for owner-op . . .

Telematics 2001 Conference Set For May 15 - 16.
Leaders from all the major players in automotive telematics will meet in Detroit this May 15-16 to discuss revenue models and the future of telematics at the "eyeforauto" Telematics 2001 conference . . .

GM's OnStar To Offer Financial News To Drivers.(Brief Article)
General Motors said its OnStar unit struck a deal that will let its users get access to news from Dow Jones & Co. Inc.'s Wall Street Journal Online while they are driving. The companies said in a st . . .

Telematics To See Sharp Growth, Research Firm Says.(Brief Article)
Recent advances in electronics coupled with improved economics and expanding network coverage have the transportation industry positioned for significant growth in wireless data applications, accord . . .

Intel Forms Alliance With Microsoft, Others For In-Car Computer Systems.(Brief Article)
Intel said that it has forged relationships with Microsoft, QNX Software Systems, Wind River Systems, IBM, Fonix and Lernout & Hauspie to commercialize in-car computers. Otherwise known as telematic . . .

BorgWarner Sheds Fuel Systems Business.(Brief Article)
BorgWarner Inc. said that it has completed the sale of its fuel systems business to an investor group led by TMB Industries, a private equity group. Terms of the transaction were not disclosed. Th . . .

Nissan Will Build Light Truck, SUV Assembly Plant In Miss.(Brief Article)
Nissan Motor Co. said it will build a new production plant in Canton, Miss., which will employ 4,000 workers and produce 250,000 vehicles annually. It said it will produce two new Nissan models - a . . .

GM, Russian AvtoVAZ To Finalize Deal For New Alliance.(Brief Article)
Russia's biggest car maker AvtoVAZ said it hoped to sign final agreements in May on a joint venture with General Motors and the European Bank for Reconstruction and Development (EBRD). Alexei Niko . . .

Ford May Get Tariff Relief For Imports Into Philippines.(Brief Article)
The Philippines' Board of Investments (BOI) is inclined to endorse lower duties on the planned import of semi-knocked down vehicles by Ford Motor Philippines Corp. Inc., a unit of Ford Motor Co., Tr . . .

Intermet To Close Mexican Machining Plant And Downsize Pulaski, Tenn., Die-Casting Plant.(Brief Article)
Intermet Corp. said that in the company's continuing cost-cutting and efficiency efforts, it plans to close its Reynosa, Tamaulipas, Mexico, machining facility and substantially downsize a die-casti . . .

ArvinMeritor To Move Aftermarket Operations From Tenn.(Brief Article)
ArvinMeritor, Inc. said it will relocate its light vehicle aftermarket operations from Pulaski, Tenn. The company cited weakened conditions in the light vehicle aftermarket segment and a necessity t . . .

Collins & Aikman Signs Letter of Intent to Acquire Automotive Fabric Operations From Joan Fabrics.(Brief Article)
Collins & Aikman Corp. said that it has signed a letter of intent to acquire the automotive fabric operations of Joan Fabrics, a leading supplier of bodycloth to the automotive industry, and all of . . .

Copart Acquires New Facility in Pennsylvania.(Brief Article)
Copart, Inc. said that it has acquired the assets of Mountain States Auto Auction, Inc. of Mount Morris, Pennsylvania. The 34-acre facility is Copart's 81st location in the U.S. and its third facil . . .

GM To Announce Buyout Of Daewoo.(Brief Article)
General Motors Corp. is expected to announce its decision to acquire Daewoo Motor Co. in early May, according to recent statements made by South Korea's commerce minister. GM entered negotiations to . . .

Ford Ordered To Replace Switches.
A California judge ruled that Ford Motor Co. must replace defective ignition devices on an estimated two million California vehicles prone to stalling, The order, which would cost Ford an estimated . . .

ChoiceParts Completes Acquisition of CarStation.
ChoiceParts, LLC said it formally closed the previously announced asset acquisition and exclusive licensing agreement with OnStation Corp. for the CarStation CommerceSystem (CCS). On February 20, 2 . . .

GM Collaborating With The University of Tulsa On Catalytic Converter Research.(Brief Article)
General Motors said it and the University of Tulsa are collaborating on lean burn engine technology. Richard Blint, a senior research scientist with the Chemical and Environmental Sciences Lab at GM . . .

Ford, China Joint Venture Awaiting Government Approval.(Brief Article)
Ford and China's Chongqing Chang'an Automobile Co. said they expected to set up a joint venture by June with an initial investment of $98 million. Ford and its China subsidiary would jointly invest . . .

Haldex, Altra Technologies Form Collision Avoidance Alliance.(Brief Article)
Haldex Brake Systems, a division in the Haldex group, said it has formed a strategic alliance with Altra Technologies Inc., MN, which has developed electronic anti-collision systems for commercial v . . .

Ford Opens Commercial Vehicle Assembly Plant in Turkey.
Ford Motor Co. opened a $650 million Turkish plant that will produce light commercial vehicles largely for sale in Turkey. "We have confidence in the future of Turkey," said Jacques Nasser, Ford's c . . .

Membership in UAW Plunged 12 Percent In 2000.(Brief Article)(Statistical Data Included)
The United Auto Workers union said its membership dropped about 12 percent in 2000, continuing a 20-year retreat as automakers reduce factory jobs. In its annual financial statements filed with th . . .

Auto, Auto Parts Stocks Downgraded By Analysts; Recovery Expected Late 2001.
Goldman analyst Gary Lapidus downgraded the automobile sector to "market perform," telling clients the criteria for auto stock strength, namely positive earnings revisions and below normal valuation . . .

Diesel Car Sales Continue To Surge In Europe.
Diesel car sales are soaring throughout Europe. In 1973, only 2.5 percent of new car sales were diesel models. By the end of 2001, this figure is expected to reach 30-40 percent, according to Europe . . .

Satellite Digital Radio Industry To Flourish, New Study Predicts.(Brief Article)(Statistical Data Included)
Revenues from satellite-based digital audio radio services (SDARS) will reach $350 million by 2006, according to a new study. The study, "The Digital Car: A Strategic View of Global In-Vehicle Commu . . .

U.S. Government Says China Is Injuring U.S. Auto Replacement Glass Industry With Cheap Imports.(Brief Article)
The U.S. International Trade Commission (ITC) ruled that there is a reasonable indication of material injury to the domestic automotive replacement glass industry due to imports from the People's Re . . .

Microtune To Expand Telematics Products With New RF Tuner.
Microtune, Inc. said it will expand its tuner-receiver product portfolio to develop mobile solutions that enable the new class of in-vehicle entertainment, information and telematics applications. A . . .

Telematics Growth Offers Opportunities For Non Traditional Communications Companies.
Pulse, a manufacturer of magnetic components for data networking, power, telecommunications and broadband applications, has entered the automotive electronics business with the recent acquisition of . . .

E-Business Initiatives Focus Of European Conference: EyeForAuto Europe 2001.
Senior Executives from the leading auto manufacturers and Tier 1 auto suppliers are confirmed for the third EyeForAuto Europe 2001 conference to be held at the PalExpo, Geneva on 13-15 June 2001. Ni . . .

French Firm To Build New Auto Parts Plant In Brazil.
Manzoni Bouchot group said it will set up a plant in Porto Real (Rio de Janeiro). The company said it will construct its first Autoparts outside Europe to meet the demand of Peugeot-Citroen Renault . . .

Siemens, Yazaki In Electronic Systems Joint Venture.
Siemens AG said its automotive unit was entering a strategic partnership covering electrical systems for cars with Japan's Yazaki Corp. Siemens said the firms would form two 50-50 joint ventures, on . . .

Australian Car Industry Threatened Unless Tariffs Are Restored, Ford Says.
Australia's car industry is facing ruin unless the government restores high tariffs to fend off foreign imports, the head of Ford's local operation warned. Successive Australian governments have red . . .

Thor's Receives Fuel Cell Grant From DOT.
Thor Industries, Inc. said that its Thunderpower joint venture with ISE Research Corp., San Diego, CA has received a $740,000 federal funding commitment to support development and demonstration of a . . .

Ballard Sign $25.9-Million Supply Agreement With Honda For Fuel Cells.
Ballard Power Systems said that it has signed a Can$25.9-million (US$16.5-million) supply agreement with Honda R&D Co., Ltd. of Saitama, Japan, a subsidiary of the Honda Motor Co., for Mark 900 Seri . . .

Autoliv Sells Another Non-Core Unit.
Automotive safety systems maker Autoliv has made another move towards concentrating on core manufacturing by selling its machined parts business in Ogden, Utah. The operation manufactures steel comp . . .

Delphi Investment Takes Aim At European Diesel Growth.(Brief Article)
In response to a shortage of diesel engines in Europe, Delphi is planning to invest more than $300 million in expanding its diesel systems capacity, according to the Financial Times. Delphi is plann . . .

Nissan To Sell Niles Parts Stake.(Brief Article)
Nissan Motor Co. said that it was selling its stake in an auto-parts maker to a U.S. investment company, in a cost cutting effort. Ripplewood Holdings will buy Nissan's 40 percent share in Tokyo-bas . . .

Magna New Interior System Unit Begins Operations.(Brief Article)
Intier Automotive, an interior system supplier formed from three units of Magna International, began operations as a separate division. According to its President and CEO, Don Walker, Intier Automot . . .