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Globaline
Weekly publication of the most up-to-date global news on your customers and competitors. Available only to AMT members.
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Archived News
- July 2007
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Tsubaki Nakashima to Spend $17 Million to Erect Second China Plant
July 31, 2007 -- Japan's Tsubaki Nakashima Co. plans to spend about 2 billion yen (US$17 million) to build a factory in China to make steel balls for automotive bearings. The new facility in Chongqing is slated to be placed in service in April 2008 and will be the company's second production site in China, joining one near Shanghai. Jul 31, 2007
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SPX Wins $40 Million Solar Contract with NorSun
July 31, 2007 -- SPX Corp. Kayex unit has was awarded a contract to design and manufacture crystal growing equipment used for silicon-based solar energy products. The contract is with NorSun AS. Oslo, Norway-based NorSun is a producer of mono crystalline ingots and wafers for the international solar industry. The contract is valued at $40 million. Shipment of equipment is scheduled to begin in the third quarter of 2007. Rochester, New York-based Kayex provides crystal growing technology to the solar and semiconductor industries. The company has solar equipment installations around the world. Charlotte, North Carolina-based SPX is a multi-industry manufacturing firm. Jul 31, 2007
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Tower CEO Plans to Leave
July 31, 2007 -- Tower Automotive Inc. CEO Kathleen Ligocki plans to step down this week, the latest move in her decade-long run as one of the few women at the top of an industry she once called "crazy, sadistic but oh-so-seductive." In a letter sent to friends and colleagues Monday, Ligocki said she is leaving the struggling parts supplier to become a consultant at Wall Street private equity giant Cerberus Capital Management, Tower's new owner and buyer-in-waiting of Chrysler Group. Jul 31, 2007
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Japan's Fanuc, Others to Boost Output of Robots, Machine Tools
July 30, 2007 -- Fanuc Ltd and other Japanese manufacturers of industrial robots and machine tools plan to sharply increase output in a bid to tap growing demand worldwide, the Nikkei reported over the weekend. Japanese firms now have about half the global market for industrial robots and about 30 percent share in machine tools, the business daily said, without citing sources. Jul 30, 2007
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Lockheed Gets $2.4 Billion Deal to Provide Parts, Materials for F-35 Joint Strike Fighters
July 30, 2007 -- The U.S. Navy has awarded Lockheed Martin Corp. a $2.4 billion contract for Joint Strike Fighter materials and parts. Lockheed's aeronautics division will provide take-off and landing equipment for six F-35s for the Air Force and short take-off and vertical landing systems for six F-35s for the Marine Corps. Jul 30, 2007
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Aisin Seiki and Allison End Alliance
July 30, 2007 -- Automobile parts manufacturer Aisin Seiki Company and Allison Transmission, the General Motors division manufacturing automatic transmissions for commercial vehicles, have said that their joint venture Aisin General Motors Allison will end on July 31, 2007. Over the course of the ten year relationship, the joint venture is claimed to have penetrated light-medium and heavy-duty trucks and buses in the Japanese commercial vehicle market. Jul 30, 2007
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Medtronic to Acquire Kyphon for $3.9 Billion
July 27, 2007 -- The acquisition price represents a 32% premium over Kyphon's closing stock price on July 26, 2007 of $53.68 and a 35% premium over Kyphon's 30-day average trading price of $52.76 per share. Jul 27, 2007
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General Dynamics Awarded Production Contract for Unitary Warheads
July 27, 2007 -- General Dynamics Ordnance and Tactical Systems, a business unit of General Dynamics, has been awarded a $7.5 million contract by Lockheed Martin for the production of warheads for the U.S. Army's Guided Multiple Launch Rocket System (GMLRS) - Unitary. Jul 27, 2007
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Shipments of Machine Tools to Mainland China Stuck on Red Tape
July 27, 2007 -- Shipments of domestically made machine tools to mainland China have recently been stalled by the more stringent measures taken by mainland authority to approve import permits. Jul 27, 2007
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Toyota Auto Body to Build Parts Factory in Mississippi
July 26, 2007 -- Toyota Auto Body Co. plans to spend several billion yen to construct a plant in the U.S. state of Mississippi to produce pressed car parts for the assembly facility that parent Toyota Motor Corp. is building there. The Toyota group firm will supply parts for the Highlander sport utility vehicle, known in Japan as the Kluger, which Toyota will produce at its new factory. Jul 26, 2007
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New CEO to Take the Wheel at Johnson Controls
July 26, 2007 -- Johnson Controls Inc. (JCI) has announced that its current chief executive officer (CEO), John M. Barth, will retire as of 31 December 2007, with the company’s current executive vice-president and vice-chairman, Stephen A. Roell, 57, succeeding him. Roell will become CEO on 1 October 2007 and assume the chairmanship of the board of directors on 1 January 2008. Jul 26, 2007
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BAE Joins VT in £3.9 Billion Navy Deal
July 26, 2007 -- Britain’s largest warship builders, BAE Systems and VT Group, are to press ahead with their long-awaited tie-up after yesterday winning a £3.9billion order for two aircraft carriers. They are forging a new joint venture that will bring together their surface warship operations, creating a new "national champion" to compete with overseas shipyards. The two groups, previously arch rivals, have been in talks for a year, but the deal hinged on securing the contract to build the 65,000-ton carriers — the largest vessels ever built for the Royal Navy. Jul 26, 2007
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Kennametal Announces Full Year Results for Fiscal 2007
July 25, 2007 -- Kennametal expects sales growth in the range of 8 to 10 percent for fiscal 2008, continuing the trend of consistently outpacing worldwide industrial production rates by two to three times. Jul 25, 2007
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Siemens Shows Strong Profit Growth for Third Quarter
July 25, 2007 -- Siemens showed substantial growth in Operations in the third quarter of fiscal 2007 and boosted Group profit 22% to €1.504 billion. Jul 25, 2007
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Northwest Pipe Reports Record Quarterly Sales
July 25, 2007 -- Northwest Pipe Company reported the highest quarterly sales in its history. Jul 25, 2007
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Arrow to be Sold to Teleflex Inc.
July 24, 2007 -- The Bern Township maker of medical devices said Monday that it has agreed to be sold to a Montgomery County firm for $2 billion in cash. Jul 24, 2007
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GT Solar Receives Order from Soltech
July 24, 2007 -- The equipment includes GT Solar's new DSS450 furnace, which produces 400kg to 450kg silicon ingots, and also Atlas tabber stringers, which arrange rows of solar cells for placement in solar modules. Jul 24, 2007
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Hayes Lemmerz Names Bentley as Chief Operating Officer
July 24, 2007 -- Hayes Lemmerz International, Inc. announced the appointment of Fred Bentley to the new position of Chief Operating Officer of Hayes Lemmerz International, Inc. and President of the Company's Global Wheel Group. Jul 24, 2007
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Delphi Plans Opening New Diesel Plant in Romania
July 23, 2007 -- The facility, to be operated by Delphi Powertrain Systems division, is scheduled to receive equipment in late 2007. Jul 23, 2007
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Pratt & Whitney Canada Wins New Deals with Epic Aircraft
July 23, 2007 -- United Technologies Corp.'s Pratt & Whitney Canada unit received two contracts from Epic Aircraft to supply engines to the company's Victory very light jet and Dynasty aircraft. Jul 23, 2007
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Bosch, Japan's Denso to Invest in Polish Diesel Filter Venture
July 23, 2007 -- The venture -- announced in October last year when it was still subject to approval -- will involve the production of "highly efficient and cost-effective" diesel particulate filters using cordierite ceramics. Jul 23, 2007
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Magna in Talks with BMW on New Mini SUV—Report
July 20, 2007 -- Magna International is rumoured to be in talks with BMW over production of a Mini-branded sports-utility vehicle (SUV) at its assembly plant in Graz (Austria), according to a Reuters report. Dubbed the Mini Colorado, the new model would potentially provide 65,000 units of output to the plant, which recently lost future production of the BMW X3 and, yesterday, production of the Chrysler 300 model, which will return to Canada. Volkswagen ( VW) is also rumoured to be in talks with Magna over the assembly of 20,000 roadsters at the Graz plant. Jul 20, 2007
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Delphi Wins Harley-Davidson Contract
July 20, 2007 -- US-based automotive aftermarket supplier Delphi Corporation has earned an important contract from prestigious motorcycle builder Harley-Davidson. Beginning with the 2008 model year, Delphi will supply antilock braking systems for the popular Touring and VRSC families of motorcycles including the select Touring models that are available in custom vehicle operations and police lines. Jul 20, 2007
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Whirlpool Corporation Reports Record Results
July 20, 2007 -- Whirlpool Corporation announced today that second-quarter 2007 net sales increased 3 percent to $4.9 billion. Net earnings from continuing operations were $161 million, or $2.00 per diluted share, up approximately 60 percent from the $100 million, or $1.26 per diluted share, reported in the same period last year. Jul 20, 2007
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Denso to Spend about ¥20 Billion to Expand S. Japan Facility
July 19, 2007 -- Auto-parts maker Denso Corp. said Thursday it will spend about Y20 billion to expand its factory in the southern Japanese prefecture of Kitakyushu by more than 50% as it attempts to meet strong demand for auto production. Denso will add an extra 22,000 square meters to its 40,000 square meter plant in Fukuoka prefecture, with expansion of the plant starting in August and new production facilities to come on line in May 2008. Jul 19, 2007
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Honda Vietnam to Build Second Motorcycle Plant
July 19, 2007 -- Honda Vietnam Co., Ltd (HVN) on July 18 announced plan to build its second motorcycle plant Vinh Phuc province. The US$65 million new plant is scheduled to begin production by the latter half of 2008 with a forecast initial annual production capacity of 500,000 units. Jul 19, 2007
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Delphi Accepts $2.5 Billion Appaloosa Offer
July 19, 2007 -- Delphi Corp. said today that is has a new deal with Appaloosa Management LP in which the private equity firm and other investors will pump $2.55 billion into the auto parts supplier as part its plan to exit bankruptcy. Earlier this month, Troy-based Delphi scrapped an agreement that had the group of investors, led by Appaloosa, infusing Delphi with up to $3.4 billion. A new agreement was expected by the end of the month. The company will file a motion later today asking the bankruptcy court for an expedited hearing and approval of the arrangement. Jul 19, 2007
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Honda Plans $100 Million Car Plant
July 18, 2007 -- Honda will build a $100 million plant in Argentina with annual capacity of 30,000 units. The automaker, which already has a plant in Brazil building such models as the Fit (Jazz) and Civic sedan, expects a workforce of 800 to start production in Argentina in the second half of 2009. This will be a full production plant rather than a knock-down (CKD) kit assembly operation. Jul 18, 2007
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ZF Friedrichshafen Takes Over Czech VES
July 18, 2007 -- German driveline and chassis technologies supplier ZF Friedrichshafen AG has taken over Czech developer of automotive systems Value Engineering Services (VES) for an undisclosed sum, the former owner of VES, Heinz Wigges, said on July 13, 2007. Jul 18, 2007
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Hyundai E&C Wins $713 Million Order for Kuwait Power Plant
July 18, 2007 -- South Korea's third-largest builder, Hyundai Engineering & Construction Co., said Wednesday that it has clinched a US$713 million order to build a co-generation power plant in southern Kuwait. Jul 18, 2007
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ZF Friedrichhafen to Invest €120 Milion in Eastern Europe
July 17, 2007 -- ZF Friedrichshafen plans to invest €120 million in its Eastern European facilities over the next three years, Handelsblatt reported, citing no sources. Germany's third largest automotive supplier expects sales in Eastern Europe to soar to 700 mln eur by 2010 which would amount to 6 pct of the company's total sales, the newspaper said. Jul 17, 2007
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Lear Corp. Investors Reject Icahn's Offer
July 17, 2007 -- Shareholders of Lear Corp. rejected Carl Icahn's $37.25 (U.S.)-a-share buyout offer in a victory for some top stockholders who argued the deal undervalued the U.S. supplier of automotive parts. Mr. Icahn's American Real Estate Partners LP reluctantly raised its offer last week from $36 a share and said the acquisition agreement would terminate if shareholders didn't approve the deal by yesterday. Jul 17, 2007
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Swiss Georg Fischer Eyes Takeovers in 2007
July 17, 2007 -- Swiss manufacturer Georg Fischer is eying acquisitions to add to its piping systems unit after the firm posted a forecast-beating rise in half-year net profit to 136 million Swiss franc ($113.3 million). "We are hopeful and we are optimistic," Georg Fischer Chief Financial Officer Roland Abt told Reuters on Tuesday when asked whether the company would buy another firm this year. Jul 17, 2007
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Magna to Invest in Auto Components Production in Tatarstan
July 16, 2007 -- Magna International, a leading global producer of auto components, plans to invest $25-$30mn in localising auto components production in Tatarstan, a Russian Volga republic. Jul 16, 2007
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GM to Invest $350 Million in Argentina for New Car Model
July 16, 2007 -- U.S. car maker General Motors Corp. (GM) will invest $350 million in Argentina to produce a new mid-size car model, Argentine daily La Nacion reported Monday. La Nacion, like other local press reports, says that the investment will be announced by GM Chief Executive Rick Wagoner during his visit to Argentina on Thursday. A GM Argentina spokesman wouldn't confirm the reports of the investment. Jul 16, 2007
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Sumitomo Subsidiary Acquires Controlling Stake in Master Tool Corp.
July 16, 2007 -- The US subsidiary of Sumitomo Electric Hardmetal Corporation has acquired a 75% controlling stake in US cutting tool manufacturer Master Tool Corporation for US$6.5m as it seeks to expand its line-up of products for the North American automotive industry. Jul 16, 2007
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Embraer Sells 13 Embraer 175 Jets to Republic Airlines
July 13, 2007 -- Embraer announces that Republic Airlines Inc., a subsidiary of Republic Airways Holdings, has increased its orders for the EMBRAER 175 by 13 firm orders, totaling US$403 million. Jul 13, 2007
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VW do Brasil Recruits 725 Workers for Two-Shift Production
July 13, 2007 -- With the new workers, Volkswagen do Brasil expects to boost Gol model daily output to 1,015 units from 890 units at present. Jul 13, 2007
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Force Protection to Open Facility in North Carolina
July 13, 2007 -- Force Protection Inc., which manufactures military vehicles plans to open a facility in north-central North Carolina, creating 270 jobs over the next four years. Jul 13, 2007
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The 70 Days That Changed the Face of Machine Tool Production
July 12, 2007 -- There was quite a stir when Yamazaki Mazak announced in 1985 that it was going to build a machine tool production facility in Worcester. Jul 12, 2007
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Metal Fabrication Firm Closing Las Cruces Factory
July 12, 2007 -- A metal fabrication company has announced it will close its Las Cruces factory and open a smaller operation in nearby Ciudad Juarez, Mexico. Jul 12, 2007
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Flow International Announces Fourth Quarter and Year-End Results
July 12, 2007 -- Flow reported consolidated sales of $53.4 million and a net loss of $3.1 million or $0.08 basic and diluted loss per share. Jul 12, 2007
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Dana/Dongfeng to Produce Axles in China
July 11, 2007 -- Dana Mauritius has purchased from Dongfeng Motor Co. Ltd. 4% of the registered capital of Dongfeng Axle Co., a Chinese commercial vehicle axle manufacturer that will now be known as Dongfeng Dana Axle Co., Ltd. Jul 11, 2007
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T.Rad to Make Motorcycle Radiators in Italy
July 11, 2007 -- The Japanese company will install production equipment for aluminum motorcycle radiators at T.Rad Italia SpA. Jul 11, 2007
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Kennametal and Kyocera Agree on Alliance
July 10, 2007 -- Kennametal Inc. announced today that it has signed a product supply agreement with Kyocera Corporation, based in Kyoto, Japan. Jul 10, 2007
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Japan's Aisin Seiki Plans New Engine Parts Line
July 10, 2007 -- Aisin Seiki Co., an auto parts maker affiliated with Toyota Motor Corp., will spend around 10 billion yen (US$81 million; €59.5 million) to put in a new engine parts production line. Jul 10, 2007
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New CEO at Flow to Lead Push for Growth
July 9, 2007 -- Flow International, the Kent-based maker of high-pressure water- jet cutting tools, on Thursday named Charles Brown as its new chief executive, ending a five-month search. Jul 09, 2007
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Poteau Truck Factory on Way
July 9, 2007 -- Tiger Truck Co. of Dallas will bring 300 jobs to Poteau after it opens an assembly plant. Jul 09, 2007
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French Alstom Gets Power Plant Equipment Deal in Brazil
July 6, 2007 -- French engineering group Alstom SA has won a $119 mln (87.5 mln euro) order to supply equipment to the Estreito hydroelectric plant, which is being built in Brazil. Jul 06, 2007
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Ministry Guarantees Kongsberg JSF Production
July 6, 2007 -- The Norwegian Ministry of Defence has given Kongsberg Defence and Aerospace a guarantee for the investment in a factory for production of composite products. Jul 06, 2007
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Metecno India to Set Up Manufacturing Unit
July 5, 2007 -- MeTecno (India) Pvt Ltd, the local arm of Italy-based Metecno group, is setting up a unit for manufacturing sandwich panels near here at an investment of $ 12 million. The facility at Sriperumbudur would produce sandwich panels for buildings and cold storage industry, MeTecno Chief Operating Officer Anup Dave told reporters. Through this facility, we look forward to produce 1.8 million square meter sandwich panels per year in cut lengths ranging from two meters to 15 meters. This translates into a production capacity of 6,000 sq meter per day," he said. Jul 05, 2007
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Chery to Make Chrysler Cars
July 5, 2007 -- Independent Chinese carmaker Chery Automobile Co clinched a landmark deal in Beijing with US-based Chrysler Group yesterday to make small cars for the North American and European markets. The first model in the partnership will be a Dodge based on Chery's 1.3-liter A1 hatchback, said top executives of the two sides. The car, to be assembled at Chery's home base in eastern city of Wuhu, will be first shipped to Mexico before January, Chery sources said. However, no timetable has been revealed for the launch of Chery-made Chrysler cars in the US and Europe, where other Chinese carmakers have faced quality problems recently. Jul 05, 2007
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Gildemeister Acquires Competitor WKZ
July 5, 2007 -- Gildemeister, the German machine tools group, has acquired domestic competitor WKZ Werkzeugmaschinen, which specialises in manufacturing robot technology and automation systems for machine tools. Jul 05, 2007
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Arvin Sango Expands Operations in Madison
July 3, 2007 -- Arvin Sango Incorporated (Arvin Sango), a supplier of Toyota Motor Corporation, is expanding its operations in Madison. The expansion of the operations will create 39 new jobs. The firm is investing USD42m to modernise its Indiana operations. Jul 03, 2007
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Welspun-Gujarat to Build Manufacturing Facility in U.S.
July 3, 2007 -- Metal pipe manufacturer Welspun-Gujarat Stahl Rohren is planning to build a US$100 million manufacturing facility at Arkansas in U.S. and expects to start production by spring of 2008. The Arkansas facility, once completed, would be capable of 300,000 net tonnes of tubular steel pipes annually for use in the oil and gas industry and Welspun Gujarat would hire about 300 workers, the company said in a communique to the Bombay Stock Exchange. Jul 03, 2007
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Rockwell Automation Acquires ICS Triplex
July 3, 2007 -- Rockwell Automation, Inc. announced today that it has acquired Industrial Control Services Group Limited which does business as ICS Triplex. As first announced on May 25, 2007, the deal is valued at GBP 110 million (British pounds) in cash. The process of delivering cash to ICS shareholders will continue through August, 2007. Jul 03, 2007
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Hayes Lemmerz Sells MGG Group to Private Equity
July 2, 2007 -- Hayes Lemmerz International announced on Friday (29 June) the sale of its wholly owned subsidiary, MGG Group B.V. to an affiliate of the ECF-Group, a privately held company based in Switzerland and the Netherlands, according to PRNewswire. "We are pleased that we have completed this transaction," said Curtis Clawson, president, chief executive officer (CEO) and chairman of the board of Hayes Lemmerz. Jul 02, 2007
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Alcoa Names Jinya Chen President, Asia-Pacific Region
July 2, 2007 -- Alcoa Inc. (AA) named Jinya Chen president, Asia-Pacific region, succeeding Lloyd Jones. The New York aluminum company said Jones will retire at the end of the year. Jul 02, 2007
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