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Globaline
AMT compiles information and data on your customers and competitors. Covering North America, Central & South America, Asia and Europe, Globaline keeps you informed of the latest developments and future trends that impact capital spending plans in the automotive, aerospace, household appliance, medical equipment, construction/agriculture, and metalworking industries. Available only to AMT members.
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Archived News
- February 2008
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Shell Pakistan, Gandhara Industries Ink Lube Agreement
February 29, 2008 -- Shell Pakistan has signed a 3-year Memorandum of Understanding (MoU) with Isuzu. Under this agreement Isuzu manufacturer Gandhara Industries Limited (GIL) will exclusively recommend Shell Lubricants for all Isuzu vehicles. As per agreement, Shell & GIL (Isuzu) will launch a joint campaign for promoting use of Rimula in Isuzu vehicles. GIL (Isuzu) dealers' network in Pakistan will exclusively be using Shell Rimula as the recommended oil for its diesel engines. Feb 29, 2008
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Iron Ore Price Hike to Hit Profit Rate of China's Auto Industry
February 29, 2008 -- A price hike of iron ore will definitely drag down the profitability of China's automakers, said experts. Facing cost pressures brought about by price hikes of steel products as a result of surging iron ore costs, China's automakers are urged to make preparations. Feb 29, 2008
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Lockheed Nominates Caterpillar CFO David Burritt to Board
February 28, 2008 -- Lockheed Martin Corp. said Wednesday it has nominated David Burritt, chief financial officer of Caterpillar Inc., to its board. The nomination will be submitted to the shareholders for approval on April 24. Lockheed directors serve one-year terms. Feb 28, 2008
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India Extends Deadline for 12 Bln USD Fighter Jet Contract by 2 Months
February 28, 2008 -- India has extended a deadline for global military aviation groups to bid on a contract to supply 126 fighter jets worth as much as 12 bln usd, officials said. The announcement of the two-month extension comes after reports that one or more bidders had sought additional time. The deadline had been set for March 3. India floated the global tender for the fighter jets last August and said six contenders were on its short list. Feb 28, 2008
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China's Lube Oil Imports Remain Stable in Jan-Nov 2007
February 28, 2008 -- China imported 194,000 tons of lubricating oil in the first 11 months of last year, roughly the same as the Jan-Nov period of 2006, sources with the General Administration of Customs said on Thursday. The imports were valued at US$350 million, a growth of 11.2 per cent on the same period of the previous year. With the imports remaining roughly unchanged year on year, the value increase was due to price rises. The customs sources said the price of imported lube averaged US$1,824 per ton, up 11.3 per cent. Feb 28, 2008
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Magna Predicts 2008 Sales of $24.9 Billion to $26.2 billion, Expects Lower Vehicle Production
February 27, 2008 -- Canadian automotive supplier Magna International Inc. on Wednesday said it expects to post 2008 sales of between $24.9 billion and $26.2 billion, based expectations of lower vehicle production. Analysts polled by Thomson Financial expect the company to post 2008 sales of $25.97 billion. The company posted 2007 sales of $26.07 billion. Feb 27, 2008
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ThyssenKrupp Unit Wins EUR100M In Bulgaria Orders From Lukoil
February 27, 2008 -- German industrial conglomerate ThyssenKrupp AG (TKA.XE) Wednesday said Uhde GmbH, part of the company's Technology segment, won two orders worth a total of around EUR100 million from Russia's Lukoil Holding (LKOH.RS) to engineer and supply clean-fuels plants in Bulgaria. Feb 27, 2008
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OCI Doubles Steel Fabrication Capacity
February 27, 2008 -- Orascom Construction Industries (OCI) announced today that it plans to expand its investments in the industrial zone in Ain Sokhna through its wholly owned subsidiary National Steel Fabrication (NSF). Approximately EGP 450 million in capital expenditure has been earmarked for the construction of a new state-of-the-art steel fabrication plant to be commissioned during 2008. The capital expenditure will be used to finance a new steel fabrication plant with an annual production capacity of 80,000 tonnes. The new yard will be built on a total area of 500,000 m2 in Ain Sokhna in the industrial park that is managed on a concession basis by OCI subsidiary Suez Industrial Development Company (SIDC). It is expected that the new plant will create approximately 3,000 new jobs. Feb 27, 2008
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Denso Eyes New Plant in Northeastern Japan
February 26, 2008 -- Major auto parts maker Denso Corp. is considering building a plant in the Tohoku region of northeastern Japan, informed sources said Tuesday. Details have yet to be decided, but Miyagi Prefecture is believed to be the most likely location. Feb 26, 2008
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Melling Acquires Pumps Division of Dana in Brazil
February 26, 2008 -- Dana Corporation just finished a worldwide restructuring program, closing with the American company Melling Engine Parts the sale of the fuel pump division of its Brazilian subsidiary (the investment group's only unit in the world), installed at Diadema, in the ABC ring of industrial satellite cities of Greater Sao Paulo. The value of the transaction was not revealed by the company. In Brazil, the worldwide restructuring of Dana also involved the sale of the divisions Perfect Circle and Glacier Vandervel, which make piston rings, located at Gravati, in Rio Grande do Sul. These units were sold worldwide in December 2006 to the German company Mahle Metal Leve for US$157 million. Feb 26, 2008
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Siemens Brasil Gets $17 Mln Order from Canada BC Hydro
February 26, 2008 -- Siemens Brasil, the Brazilian unit of German electronics and engineering group Siemens AG, has signed a $17 mln (11.4 mln euro) contract with Canadian utility BC Hydro to supply eight transformers, Siemens Brasil said on February 25, 2008. The 500,000 volt transformers will be provided by Siemens Brasil's subsidiary Transformadores Uniao Ltda (TUSA). The deliveries will start in March 2009. Feb 26, 2008
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HAL in talks to make Honeywell engines
February 25, 2008 -- In what could be the biggest aircraft engine-sourcing contract from India, Hindustan Aeronautics Ltd (HAL) is in talks with aero-engine maker Honeywell International Inc. to manufacture more than 1,000 small plane engines locally for the global market. HAL, the state-run defence aircraft maker, expects a contract to be signed in March for the engines of Honeywell that power small turbo-prop planes such as Jetstream of BAE Systems Plc. and Island Hopper of Integrity Aircraft Holdings Ltd Corp., both of which can carry around 20 passengers. Feb 25, 2008
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Taiwan Leads World as Producer of Vertical Machining Centers
February 25, 2008 -- Taiwan has become the world's largest production base for vertical machining centers with annual output reaching over 25,000 units last year, up 20% year-on-year, according to statistics compiled by the Taiwan Association of Machinery Industry (TAMI). Over the past several years, domestic manufacturers of vertical machining centers have made big progress, one sign of which is the narrowing of the lead commanded by Japanese counterparts in terms of unit selling prices. Feb 25, 2008
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AMG Announces Expansion of Production Capacity for Solar Grade Silicon
February 22, 2008 -- AMG Advanced Metallurgical Group N.V. ("AMG", EURONEXT AMSTERDAM: "AMG") announced that its 50.6% owned subsidiary, Timminco Limited ("Timminco"; TSX: TIM), today announced that its Board of Directors has approved capacity expansion plans for the production of solar grade silicon at its wholly owned subsidiary, Bécancour Silicon Inc. ("BSI"). The expansion is expected to raise the total annual production capacity of its solar grade silicon facilities to 14,400 metric tons from 3,600 metric tons. The expansion is expected to have a capital cost of approximately C$ 65 million and will be completed by mid 2009, on a schedule that will enable BSI to meet all current customer commitments. Feb 22, 2008
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BAE to invest in North East Munitions Site
February 22, 2008 -- In association with RBS THE BAE Systems ammunition factory in Gateshead is to benefit from a £120m investment in the group munitions business. The investment in three UK sites follows a deal struck by BAE with the Ministry of Defence for continued supply of bullets and bombs to soldiers. Feb 22, 2008
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Past AMT Board Member Joe Menger Dies
February 21, 2008 - Joe L. Menger, age 60, former president of The National Acme Company in Cleveland, OH, and AMT Director from 1993-96, passed away on February 15. Feb 21, 2008
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Delphi Receives Final Court Approval for Sale of Global Steering Business
February 21, 2008 -- Delphi Corp. said Thursday it received final court approval to sell its global steering and halfshaft business to Steering Solutions Corp., an affiliate of Platinum Equity LLC. The sale includes all facets of the $2.7 billion global steering and halfshaft business, which produces electric and hydraulic steering systems, steering columns, halfshafts and constant velocity joints for original equipment manufacturers, the company said. Feb 21, 2008
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Kyocera to Shift Part of Its China Production to Japan
February 21, 2008 -- Kyocera Corp. plans to start repatriating production of its products with high added value and high market share, such as fine-ceramic components, electronic devices and cutting tools, from its manufacturing bases in China to its newly constructed facilities in Japan. The move reflects the declining advantage of China as a low-cost manufacturing base due to its strengthening currency and rising labor cost. Instead, China is gaining importance as a market where products are made and sold to meet local demand, says Kyocera. The company intends to accelerate its efforts to develop new manufacturing and marketing strategies targeted specifically at China, as well as to reshuffle its global manufacturing structure. Feb 21, 2008
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Australian US$70 MLN Steel Ingot Project Licensed in Hai Phong
February 20, 2008 -- Australia's Vietnam Industrial Investment Ltd on February 19 received an investment license to build a US$70 million steel ingot plant in the northern port city of Hai Phong. The plant, capable of producing 500,000 tonnes of product a year, will use environmentally friendly European technology. Feb 20, 2008
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Magna to Invest US$203M in Plant; Syracuse, N.Y.
February 20, 2008 -- Canadian auto supplier Magna International Inc. will spend US$203-million to try to turn around its mammoth New Process Gear factory in Syracuse, N.Y., and says it has won federal and state government money to help fund its investment. Greg Deveson, president of Magna Powertrain Americas, disclosed the information in an unusual open letter to the factory's employees on Feb. 14 in which he apologized for "some of the missteps and mistakes" Magna made in managing the plant. Feb 20, 2008
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Thailand: US-based American Axle and Manufacturing Holdings to build plant in Rayong
February 19, 2008 -- US-based American Axle and Manufacturing Holdings (AAM) recently announced plans to establish a new plant in Rayong, The Nation reports. "Our new facility in Thailand represents a significant expansion of our manufacturing footprint in the important economy of Asia, where growing demand for vehicles is accelerating production volumes," co-founder, chairman and CEO Richard Dauch said in a statement issued from company headquarters in Detroit, Michigan. Feb 19, 2008
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Lockheed, Boeing Vie For Indian Jet Order; Contract Would Further Boost National Relations
February 19, 2008 -- When India went shopping for military transport planes and helicopters last month, the South Asian nation, which once bought most of its arms from Russia, placed the order with Lockheed Martin instead. The $2 billion deal with Bethesda-based Lockheed is the latest product of an Indian-U.S. relationship that moved from chilly co-existence to the closest rapport since India achieved independence in 1947. Feb 19, 2008
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India's Igarashi Motors to Form JV with Robert Bosch
February 18, 2008 -- The Chennai-based Igarashi Motors India (BSE: 517380) said it had signed an agreement with Germany's Robert Bosch GmbH to form a joint venture to develop, manufacture and sell automotive components. The JV would start operations in the second half of 2008 to manufacture, develop and sell DC Motors and systems for wipers, HVAC, engine cooling and window lift applications for the Indian automotive market. Feb 18, 2008
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Brazil Gerdau To Build $173 Mln Hydropower Complex in Parana
February 18, 2008 -- Brazilian steel maker Gerdau announced on February 18, 2008 that power sector watchdog Aneel allowed the company to operate a hydroelectric power complex in southern Parana state, which will demand $173 mln (118.23 mln euro) investments. The complex called Sao Joao - Cachoeirinha, will comprise two hydroelectric power plants (HPP) to be built on the Chopim river, between the Parana municipalities of Honorio Serpa and Clevelandia. The Sao Joao HPP will have a capacity of 60 MW, while Cachoeirinha's capacity will be 45 MW. The complex' construction is seen to be completed in the beginning of 2011. Feb 18, 2008
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Spartan Chassis Receives Order from BAE Systems
February 18, 2008 -- Spartan Chassis, a subsidiary of Spartan Motors, has received a subcontract order worth approximately $133.8 million from defense contractor BAE Systems to support the production of advanced tactical vehicles under the Mine Resistant Ambush Protected, or MRAP, program. Under the terms of the subcontract, the custom chassis manufacturer will supply and integrate key chassis components for BAE Systems's RG33 Category I and II vehicles. The vehicles are scheduled to be completed during the first three quarters of 2008 and are slated for use by the US military. Feb 18, 2008
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Caterpillar Launches Construction of Engine Park in E. China
February 15, 2008 -- Global Top 500 company Caterpillar of the United States has kicked off construction of an engine industrial park in Wuxi, a booming city in Jiangsu Province, east China. The new Caterpillar Wuxi Engine Industrial Park project will have a total registered capital of US$90 million and engage mainly in manufacturing of environment-friendly medium-sized diesel engines and parts. Its annual engine shipment will exceed 100,000 units after full operation. Feb 15, 2008
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Global Vehicles USA to Launch Hybrid Diesel Vehicles in US
February 15, 2008 -- Global Vehicles USA Incorporated, a United States-based distributor of India-based Mahindra and Mahindra (NSE: M&M) (BSE: 500520), is introducing hybrid diesel engines as an option on its vehicle range in the United States from 2010. The company is planning to launch three diesel vehicles in the United States during 2009. Feb 15, 2008
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Sikorsky Unveils Tata Helicopter Project in India
February 15, 2008 -- US helicopter maker Sikorsky and the Tata Group of India are teaming up in a joint helicopter manufacturing project in India, Sikorsky said Friday. Feb 15, 2008
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Ford, GM and JCI Line Up Against Plastech in Dispute
February 14, 2008 -- Ford, General Motors (GM) and Johnson Controls (JCI) have lined up with Chrysler in its dispute with Plastech Engineering as it attempts to retrieve tooling from the Chapter 11 bankrupt supplier. Lawyers representing the firms voiced their support at a bankruptcy court hearing where Chrysler is trying to retrieve tooling and sever business ties with the supplier of plastic trim parts. Plastech stopped supplying parts to the automaker last week as the long running tensions came to a head causing Chrysler to halt production at a number of plants. Significance: Plastech's future looks increasingly bleak as the OEMs and other suppliers line up against the stricken trim supplier. The view of the bankruptcy court will be crucial, if it sides with the OEMs, whom have twice participated in bailout agreements over the past year, Plastech will be liquidated and the OEMs should be able to retrieve their tooling. Feb 14, 2008
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American Axle & Manufacturing Announces Construction of a New Manufacturing Facility in Thailand
February 14, 2008 -- American Axle & Manufacturing Holdings, Inc. (AAM), which is traded as AXL on the NYSE, today announced plans to establish a new manufacturing facility in Thailand, near the city of Rayong, located southeast of Bangkok. AAM has acquired approximately 21 acres in an industrial park in the Rayong Province for the construction a 90,000 square-foot, state-of-the-art, wholly-owned regional manufacturing plant for its highly engineered driveline products. Feb 14, 2008
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Prices of Home Electrical Appliances in China Seen Rising
February 13, 2008 -- Market analysts are expecting a wave of price hikes of home electrical appliances in China after the Chinese lunar New Year holidays (Feb. 6-12) due mainly to greater cost pressures. It is learned that the general manufacturing cost of home electrical appliances manufacturers in China has been rising owing to hikes of steel, nonferrous metals and other raw material prices, crude oil and labor cost. Feb 13, 2008
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S Korean Chemicals Maker KCC to Build Polysilicon Plant
February 13, 2008 -- KCC Corp. (KSE:002380), a South Korean chemicals producer, said Wednesday that it plans to spend 320 billion won (US$339 million) to build a plant for producing polysilicon, an essential raw material in the production of solar cells for panels that convert sunlight into electricity. The company said the capital spending will begin this month through July 2010, and the plant, if completed, will produce 3,000 tons of polysilicons annually. Feb 13, 2008
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Japan's IHI to Construct Turbocharger Plant in Germany
February 13, 2008 -- IHI Corp. (TSE:7013) plans to build a turbocharger plant in Germany via a joint venture with German automaker Daimler AG as part of efforts to bump up output in Europe. The major maker of heavy machinery owns a 51 per cent stake in the joint venture, with Daimler holding 49 per cent. Feb 13, 2008
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GM Posts Biggest Annual US Auto Loss
February 12, 2008 -- General Motors reported the largest annual loss for an automotive company today and said it is making a new round of buyback offers to U.S. hourly workers as it struggles to turn around its North American business amid a weak economy. GM said it lost USD38.7 billion in 2007. The loss largely was due to a third-quarter charge related to unused tax credits. Feb 12, 2008
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Outokumpu and Armetal Form 10,000 Tpy Stainless Pipe Venture in Riyadh
February 12, 2008 -- Finland's Outokumpu and Saudi Arabia's Armetal have agreed to set up a joint venture in Riyadh, which will have the capacity to produce 10,000 tpy of stainless pipe. Outokumpu will take 51 percent of the joint venture, which will trade as Outokumpu Armetal Stainless Pipe Co Ltd (OSTP), with Armetal holding the remaining stake, according to the Finland-based steelmaker. Feb 12, 2008
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GKN Driveline Opens New Production Factory in South India
February 12, 2008 -- GKN Driveline has opened a new production factory at Oragadam near Chennai, in Tamil Nadu, India. Located 30 miles from Chennai, GKN Driveline's 32,800-square-foot Oragadam plant will employ 200 people with an annual production capacity of 660,000 sideshafts for customers based in south India. Feb 12, 2008
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Uzbek Aircraft Plant Joins Russia's United Aircraft Corp
February 11, 2008 -- The aircraft building plant in Uzbekistan's capital, Tashkent, has become part of Russia's United Aircraft Corporation, RIA Novosti reported quoting the Central Asian state's president. Russia and Uzbekistan signed agreements Wednesday on cooperation in aircraft manufacturing and integration of the Tashkent plant into the United Aircraft Corporation, which incorporates Sukhoi and other leading Russian companies engaged in the manufacture, design and sale of military, civilian, transport, and unmanned aircraft. Feb 11, 2008
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Bosch to Invest 11 Mln Euros in Russian Power Tools Plant by 2010
February 11, 2008 -- Germany's Bosch will invest approximately 11 million euros in its Bosch Power Tools plant in Russia's Saratov Region by 2010, Lars Kabatnik, CEO of Bosch Power Tools, said Monday. Bosch Power Tools was established in April 2007 at Bosch's already existing plant in the town of Engels in the Saratov Region. Feb 11, 2008
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Seoul Seeks to Build 3 More Aegis Destroyers
February 11, 2008 -- The South Korean Navy is seeking to build up to three new Aegis destroyers in addition to the three already planned under a multi-billion dollar defense buildup plan, officials said Monday. "(The Navy) is working to secure additional Aegis destroyers. The number of additional ships to be built has yet to be fixed, but the Navy is expected to raise the need for additional destroyers within the first half of the year," an official said on condition of anonymity. Feb 11, 2008
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Germany staves off Chinese challenge to top global exports
February 8, 2008 -- Germany, the European economic powerhouse, was the world's leading exporter again in 2007, staving off a challenge from fast-growing China despite the impact of a strong euro on its competitiveness. Feb 08, 2008
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Busy Smith & Nephew confident for future
February 8, 2008 -- Europe's largest medical devices firm, Smith & Nephew - which manufactures hip implants in Birmingham - has reported full-year sales of £1.75 billion, a ten per cent increase on last year, and a trading profit up 17 per cent to £358 million. Feb 08, 2008
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Lockheed Martin receives $194M contract from Army for missile system production
February 7, 2008 -- Lockheed Martin Corp. said Thursday it received a $194 million contract for the production of the Army Tactical Missile System from the U.S. Army Aviation and Missile Command. Work will be conducted at the company's facilities in Dallas and Horizon City, Texas, with completion expected by the second quarter of 2010, the company said. Feb 07, 2008
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Brazil's Embraer sells six E-195 jets to Spain's Universal Airlines
February 7, 2008 -- Brazilian aircraft manufacturer Embraer announced the sale of six E-195 large regional jets to Spain's Universal Airlines Thursday in a deal worth $237 million. Universal also secured rights to purchase an additional six aircraft that could double the value of the sale, Empresa Brasileira de Aeronautica SA said in a statement. Feb 07, 2008
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Mercedes to Produce Next Generation CLS In-House; Blow to Karmann, Magna Steyr
February 7, 2008 -- Mercedes-Benz has elected to produce the next generation CLS-Class at its giant plant in Sindelfingen, Germany, according to company spokesperson Eberhard Haller. The news will come as a blow to both Karmann and Magna Steyr which were vying for the contract and drives another nail into the coffin of contract manufacturers, already dealing with the potential loss of Bertone in Italy. Earlier this month, Mercedes board member responsible for production Rainer Schmückle, said that Mercedes was considering transferring production of the model to Karmann or Magna Steyr. Haller said that "discussions have ended. Our results show that we ourselves can do the best job of producing the model. "Significance: Advances in platform flexibility and production techniques have resulted in OEMs increasingly opting to manufacture low-volume models in-house rather than produce at specialist assembly contractors. Feb 07, 2008
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Metal parts maker expanding: DynaBil Industries will increase work force, product size in new, bigger building
February 5, 2008 -- DynaBil Industries Inc., which started 31 years ago in a local garage, is expanding to a new building at a local industrial park, the company said Monday. DynaBil, which currently has 226 employees, will expand to around 300 by the end of the year, company managers said. Feb 05, 2008
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Quick-Tech Ties Up With Mitsubishi Electric of Japan
February 5, 2008 -- On Feb. 1, Quick-Tech Machinery Co., Ltd., one of Taiwan's most professional manufacturers of CNC (computerized numerically controlled) lathes, signed a strategic-alliance agreement with Mitsubishi Electric of Japan at Quick-Tech's headquarters in Tainan Technology Industrial Park, southern Taiwan. The deal was struck by Quick-Tech managing director K.C. Jacky Huang, Quick-Tech managing director and Katsunari Mazaki, senior vice president and general manager of Mitsubishi Electric Taiwan Co.'s factory automation division. Feb 05, 2008
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German VW Outlines 675 Mln Euro Investments in Mexico
February 4, 2008 -- German car maker Volkswagen AG (VW) plans to invest roughly $1.0 bln (675 mln euro) in Mexico in the next three years, CEO Martin Winterkorn announced on February 4, 2008. The sum will be used to build up the VW Jetta model production line and to optimise the capacity of the factory in Puebla, central Mexico. Being VW's only production site in North America, the Puebla plant has a pivotal role in the group's growth strategy on the continent. Therefore, the current investment programme will be of benefit for both the local subsidiary Volkswagen de Mexico and the Mexican car component industry in general, Winterkorn said. Feb 04, 2008
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Machine-Tool Makers in Taiwan Forced to Raise Prices
February 4, 2008 -- Forced to cope with the substantial increase in production costs, Taiwan's manufacturers of machine tools are considering raising the quotation prices by between 5% and 10%, said Edward Yang, chairman of Taiwan Machine Tool & Accessory Builders' Association. Feb 04, 2008
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EU opens new probe into below-cost Chinese, Korean and Taiwanese steel imports
February 1, 2008 -- BRUSSELS, Belgium (AP) - The European Union started a new probe Friday into whether China, South Korea and Taiwan are illegally selling steel below-cost and hurting European steelmakers. The investigation adds to one the EU launched in December into Chinese steel imports. Steel producers such as ArcelorMittal SA and ThyssenKrupp AG complain that stainless steel cold-rolled flat products used for building and engineering products are flooding the European market. Feb 01, 2008
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Auto parts maker Dana exits bankruptcy after nearly 2 years
February 1, 2008 -- TOLEDO, Ohio (AP) - Auto parts maker Dana Corp. said it emerged from bankruptcy Friday, a leaner company infused with cash from a private equity firm. The maker of axles, brakes and other parts filed for bankruptcy protection in March 2006 at a time when big car makers were pressuring it to sell parts at lower prices. Feb 01, 2008
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Whirlpool FS gets jobs at Tenn., Mexico plants close
February 1, 2008 -- DETROIT (AP) - Whirlpool Corp. is closing plants in Tennessee and Mexico, affecting a total of 1,250 workers, the appliance maker announced Thursday. The Benton Harbor, Mich.-based appliance maker said about 500 jobs will be eliminated at its plant in La Vergne, Tenn., and about 750 jobs will be affected in Reynosa, Mexico. The jobs represent less than 2 percent of its global work force. Feb 01, 2008
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