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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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GAZ to Cut 6,500 Jobs and Close Loss-Making Units; May Not Build Siber Passenger Car
Published: 7/2/09 Publication: Global Insight
Struggling Russian passenger car and light commercial vehicle manufacturer the GAZ group may close several loss-making subsidiaries as it also announced that it would lay off 6,500 workers at its main Nizhniy Novgorod plant. According to a report in theMoscow Times, the company's board will meet on 10 July to analyse its first-half results and decide which of the company's 18 subsidiaries will be closed. The company's chief executive Sergei Zanozin said that it was making the job cuts at its main production facility because 2009 "had not yet brought a significant improvement." GAZ has also said that it may decide not to build its Siber passenger car if Magna's deal to become the controlling shareholder, along with its Russian financial backer Sberbank, of Opel goes through. GAZ will instead concentrate its efforts to manufacture Opel's passenger car designs in Russia. GAZ bought the rights and the tooling to manufacture the previous generation Chrysler Sebring but the project has been beset with delays while small sales numbers had seen production temporarily halted earlier in the year.
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Toyota Sticks To New Plant Plans
Published: 7/2/09 Publication: BMI Americas Automotive Insights
Toyota Motors has confirmed that it go ahead with plans for a small car plant in Sorocaba, south eastern Brazil. Toyota, which became the largest carmaker in the world in late 2008, has a small 2.2% share in the Brazilian market. BMI sees the new plant as a part of the company's strategy to strengthen its position in the country.
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Hyundai Mobis to Invest 1.2 tril. Won in R&D Until 2015
Published: 7/1/09 Publication: Global Insight
Hyundai Mobis has announced that it is to invest 1.2 trillion won ($942US million) in the research and development (R&D) of automotive electronic equipment from now until 2015, reports theKorea Herald. The company said in a statement that it will also increase the number of staff in these departments from 1,000 to 2,000. It also added that it aims to increase its original equipment manufacturing (OEM) sales to 22 trillion won by this time, up from 12 trillion won expected this year, while at the same time raising the amount of business consisting of "high-end core" components, such as steering and brake systems and hybrid car powertrain parts, from 30% to 50%.
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Toyota to Proceed with Brazilian Assembly Plant Construction Plans
Published: 7/1/09 Publication: Global Insight
Japanese automaker Toyota has announced that it will proceed with its Brazilian assembly plant construction plans, reports Bloomberg. Erick Boccia, spokesperson for Toyota Brazil, said that the automaker will initiate construction at its new plant in Sorocaba, Sao Paulo state during the second half of this year, and the plant is scheduled to become operational in 2011. "The [recently extended IPI industrial production] tax cut in Brazil is important and favored the decision to maintain our plans." Although he declined to reveal the scale of investment in the project, Boccia added that the new plant will have an installed capacity of 150,000 units per annum (upa) and will manufacture compact passenger cars.
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UK: Toyota UK plant to make hybrid Auris
Published: 7/1/09 Publication: just-auto global news
Toyota has reportedly decided to make a hybrid version of its Auris hatchback at its UK car making plant at Burnaston. It would be the first site for Toyota hybrid car production outside of North America or Asia.
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E-One Moli to Build New Lithium-ion Battery Plant in Taiwan
Published: 7/1/09 Publication: Business Wire
E-One Moli Energy Corp. (Molicel) , a global lithium-ion battery developer and manufacturer, said Wednesday it constructs a new lithium-ion battery plant in Taiwan. Monthly production capacity reaches 12 million units.
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Chery Auto to assemble A3 cars in Taiwan
Published: 6/30/09 Publication: China Knowledge Newswire
Chery Automobile Co Ltd, the largest private auto maker in China, recently reached an agreement with Taiwan's Shengrong Auto, a subsidiary of Prince Motors Co, to assemble A3 cars in Taiwan, the China Daily reported on Monday. Chery said in a statement that it will assemble A3 compact model vehicles at Shengrong Auto's factory in Taichung City, Taiwan starting from the end of this year and will produce Riich G6 and G5 mid-sized sedans in Taiwan next year.
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MAGNA DEAL PROBLEMS REOPEN VAUXHALL RACE
Published: 6/30/09 Publication: The Evening Standard (London)
HUGO DUNCAN General Motors was today weighing up fresh interest in its UK car business Vauxhall as talks with preferred bidder Magna International wobbled.
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Chevrolet races to meet demand for new Camaro; Muscle car's revival a bright spot for GM
Published: 6/29/09 Publication: USA TODAY
General Motors says it's struggling to meet demand for its new 2010 Chevrolet Camaro, with some buyers paying $500 to $2,500 more than the sticker price. The Camaro is creating enough buzz to play a key role in GM's turnaround. It is drawing showroom traffic -- every dealer got at least one initially to build interest -- while GM is in Chapter 11 bankruptcy protection.
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Aerospace industry forecast to remain in the black through recession
Published: 6/26/09 Publication: Canada NewsWire
Canada's aerospace industry is expected to post a modest profit of $620 million in 2009, despite declining demand for business jets, according to the Conference Board's Canadian Industrial Outlook: Canada's Aerospace Product Manufacturing Industry - Spring 2009.
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AP source: GM to build small car in Michigan
Published: 6/26/09 Publication: Associated Press Financial Wire
Michigan has won the high-stakes competition with two other states to build General Motors Corp.'s next-generation subcompact car, a person briefed on the decision said Thursday. The announcement that the car will be built at a retooled midsize car factory in Orion Township near Pontiac will come Friday, said the person, who spoke on condition of anonymity because the plan has not been made public. It will save about 1,200 jobs at the factory, which had been slated to shut down later this year. GM spokeswoman Sherrie Childers Arb declined to comment on whether GM had made a decision. The top government official in the county where the Orion plant is located said he has a phone call scheduled with GM at 9 a.m. Friday.
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Obama OKs bill for 8 more C-17s
Published: 6/26/09 Publication: St. Louis Post-Dispatch (Missouri)
President Barack Obama signed an emergency war-funding bill late Wednesday that contains nearly $2.2 billion for eight more of Boeing's C-17 transport planes.
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S. KOREAN COMPANY TO BUILD FLYING SHIP MANUFACTURING PLANT
Published: 6/25/09 Publication: Asia Pulse
A South Korean company plans to build the world's first large-scale commercial flying ship plant, the government said Thursday. The plant, to be built by Wingship Heavy Industries, will cover 43,000 square meters of land at the Gunsan Free Trade Zone located 274 kilometers south of Seoul, with the company aiming to produce 12 so-called wing in ground effect craft (WIG) every year starting in 2012, the Ministry of Knowledge Economy said.
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Aide Solar Establishes U.S. Headquarters in Arizona
Published: 6/24/09 Publication: PR Newswire
Company becomes first Chinese solar panel manufacturer to open six thousand square feet of warehouse and office space in Arizona, gaining U.S. customer service advantage TEMPE, Ariz., June 22 /PRNewswire/ -- Aide Solar, a large-scale producer of photovoltaic solar cells and modules, today announced the opening of a 6,300 square foot warehouse and office space in Tempe, Arizona. Headquartered in Xuzhou City, China, and a subsidiary of The Panjit Group, Aide Solar is one of China's leading solar panel manufacturing companies and currently serves customers worldwide. With plans for expansion that include assembly and test capabilities at its Tempe facilities, Aide Solar is committed to offering solar integrators, installers, and original equipment manufacturers an unparalleled level of flexibility and service, resulting in the best customer experience in the industry.
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GM and Koenigsegg Group reach tentative agreement on purchase of Saab
Published: 6/24/09 Publication: Datamonitor NewsWire
The sale, which is expected to close by the end of the third quarter of 2009, includes an expected $600 million funding commitment from the European Investment Bank guaranteed by the Swedish government. Additional support is to be provided by General Motors (GM) and Koenigsegg Group to fund Saab's operations and product program investments. This includes plans to launch several new products that are in the final stages of development. As part of the proposed transaction, GM will continue to provide Saab with architecture and powertrain technology during a defined time period. Additionally, Saab plans to produce its next generation 9-5 models in the Saab production facility in Trollhattan, Sweden. The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale are not being disclosed at this time. Deutsche Bank acted as financial advisor to GM. Carl-Peter Forster, president of GM Europe, said: "Saab is a highly respected automotive brand with great potential. Closing this deal represents the best chance for Saab to emerge a stronger company. Koenigsegg Group's unique combination of innovation, entrepreneurial spirit and financial strength, combined with Koenigsegg's proven ability to create world-class Swedish performance cars in a highly efficient manner, made it the right choice for Saab as well as for GM."
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International Automotive Components Agrees to Acquire Stankiewicz
Published: 6/24/09 Publication: PR Newswire
DEARBORN, Mich., June 22 /PRNewswire/ -- International Automotive Components Group ("IAC") today announced that it has executed a definitive agreement to acquire certain operations of Stankiewicz GmbH and Gimotive GmbH (collectively "Stankiewicz") from German administration. Terms of the transaction were not released.
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Nissan picks Smyrna to build electric cars
Published: 6/24/09 Publication: Knoxville News-Sentinel (Tennessee)
MURFREESBORO - Nissan Motor Co. plans to start producing electric vehicles and batteries by 2012 at its Middle Tennessee assembly plant in Smyrna, a Japanese business daily has reported. Nissan and NEC Corp. may invest as much as $1 billion in the plant, to tap government loans for environmentally friendly vehicles, the Nikkei business daily said Friday.
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Showa Shell, Saudi Aramco plan joint solar power project
Published: 6/24/09 Publication: Kyodo News International (Tokyo, Japan)
Jun. 24--TOKYO -- Showa Shell Sekiyu K.K. said Wednesday it will embark on a multibillion yen solar power generation project with Saudi Arabian Oil Co., a state-run firm known as Saudi Aramco, in 2010.
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Australia's Industrial Output, New Orders To See First Gains in 9 Months, Says Westpac
Published: 6/19/09 Publication: Mena Report
Australia’s Westpac/ACCI Industrial Trends Survey saw an index of firms’ expectations rise to 47.6 in the second quarter, the highest since the three months to September 2008. Notably, sub-indices tracking output and new orders expectations swung back into positive territory for the first time in 9 months, suggesting manufacturers are expecting a bit of a rebound in demand in the months ahead. That said, employment expectations remained negative (albeit less so than in the previous two quarters), hinting at firms’ intention to continue to operate with slimmer labor forces and casting doubt on whether the apparent stabilization in industrial activity will meaningfully contribute to lifting the economy out of recession.
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