Visteon Said New Non-Ford Business Helps Bottom Line.(Brief
Article)
While presenting at a recent Credit Suisse First Boston
Conference, Visteon Corp. executives reaffirmed third quarter and full
year 2002 expectations that the company disclosed along with its . . .
Auto Parts Suppliers Downgraded.
The impact of declining auto sales and likely production cuts is
making its way down to auto-parts suppliers. UBS Warburg analyst Robert
Hinchliffe said he now believes his original estimates for . . .
Volvo Powertrain To Modernize Swedish Plants.(Brief
Article)(Company Profile)
ABVolvo said that its Volvo Powertrain AB business unit is
investing a total of $42.9 million in its plants in Skoevde, southern
Sweden. Volvo Powertrain - which makes engines, transmissions, . . .
Hyundai Considering Europe For New Auto Plant.(Company
Profile)
Even as it is in the process of building a new plant in
Montgomery, Alabama, Hyundai Motor Co. is turning its eyes to Europe for
its next overseas push, driven by an ambition to become . . .
Germany's Duerr Awarded Production System Business From
Hyundai.(Brief Article)
German supplier of manufacturing systems and manufacturing support
services for the automotive industry Duerr AG said it won a contract
worth around $150 million from Hyundai for the delivery of a . . .
Exco Earn Transmission Case Mold Business From Ford.(Brief
Article)(Company Profile)
Exco Technologies Ltd. said that its Exco Engineering division,
located in Newmarket, Ontario, Canada has been awarded an important
transmission mold contract by Ford Motor for its 6RXX program. . . .
GM Said It Will Expand Auto Production In China With Purchase Of
Car Plant.(General Motors)
General Motors Corp.'s China unit said it is buying a new car
assembly plant in eastern China with two partners, a move that will
double the production capacity of its popular passenger cars in . . .
Growing Auto Production In China Could Lead To Hike In Certain
Commodity Prices.
China's car boom is fanning hopes of a surge in the
nation's appetite for metals and rubber, and some fear this could
tighten global supplies of the commodities. China's car sales
topped one . . .
Diesel Engine Component Output In China Gets Big
Investment.(Brief Article)
China's First Auto Works Group will invest 1.5 billion yuan
($181.2 million) to produce diesel engine parts in the northeastern
coastal city of Dalian, state media reported. The new factory . . .
GM To Layoff Workers At Georgia Minivan Plant As Sales
Decline.(Brief Article)
General Motors Corp. will temporarily shut three U.S. plants early
in January to cut production of new cars and trucks as sales slow, a
spokesman said. GM will also lay off an indefinite number of . . .
XM Arranges New Round Of Financing; Expects To Break Even In
2004.(XM Satellite Radio Holdings Inc.)(Brief Article)
XM Satellite Radio Holdings Inc. said it has lined up $450 million
in new funding to carry it through the middle of 2004, by which time the
startup satellite radio provider hopes to reach a . . .
Tower Automotive Will Not Supply Frame For Next Ford
Explorer.(Brief Article)(Company Profile)
Tower Automotive, Inc. said that it will not supply the frame for
the next generation Ford Explorer. The company presently produces the
frame for the current Ford Explorer platform in its Corydon, . . .
ArvinMeritor Acquires All Remaining Interest In German Exhaust
Joint Venture.(Brief Article)(Company Profile)
ArvinMeritor, Inc. said that it has agreed to acquire the
remaining 51-percent interest in its German joint venture, Zeuna Starker
GmbH & Co. KG, an exhaust and emissions solutions company that . . .
GM Commits $550 Million To Lordstown Assembly Plant
Expansion.(Brief Article)
General Motors Corp. committed to over $550 million to retool
several areas of the Lordstown, Ohio assembly
plant complex and install a new state-of-the-art paint shop, and a
new central . . .
Exco Tech To Supply Engine Block Tooling To
DaimlerChrysler.(Brief Article)
Exco Technologies Ltd.'s Exco Engineering division in
Newmarket, Ont. has received a contract from auto-maker DaimlerChrysler.
Exco said the initial contract involves the design, development . . .
Dana Completes Sale Of FTE Brake & Clutch Actuation
Operations.(Brief Article)(Company Profile)
Dana Corp. said that it has completed the sale of its FTE brake
and clutch actuation systems operations to HgCapital, a European private
equity finance company. The transaction included FTE's . . .
O'Reilly Automotive Expands Market Reach With Two new
Purchases.(Brief Article)
O'Reilly Automotive, Inc., said that it has entered into
agreements to purchase the assets of Dick Smith Enterprises,
headquartered in Ft. Worth, Texas and Davie Automotive, Inc.,
headquartered in . . .
Dollar's Decline Should Help Automotive Companies.
Weakness in the U.S. dollar -- currently trading at multiyear lows
versus many major currencies -- could be a good thing for U.S.
automotive manufacturers, especially with respect to competition . . .
GM Reaps Hugh Savings From Flexible Manufacturing.(Brief
Article)(Company Profile)
The changeover to flexible manufacturing has saved General Motors
$1.5 billion a year after converting more than half its North American
factories.
Gary Cowger, president of GM North America, . . .
New Spark Plug Boosts Fuel Economy By An Average Of 18
Percent.(Combustion Technology Products Corp.'s DirectHits spark
plug)
A sophisticated new spark plug called DirectHits developed by
Combustion Technology Products Corp. (CTPC), with technical assistance
from Sandia National Laboratories, increases the power of the . . .
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