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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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ANALYSIS - S. KOREAN AUTOMAKERS DRIVE INTO DIFFICULTIES
Published: 12/1/08 Publication: Asia Pulse
Pounded by a deepening economic slump at home and overseas, South Korean automakers are slashing daily overtime, suspending weekend production or idling plants to cope with slumping sales, according to the carmakers and analysts on Monday. The near-term outlook for Hyundai Motor Co. (KSE:005380) and other local automakers is bleak as uncertainty lingers about how deep and how wide the global economic downturn will be. With fears of a global recession rapidly spreading over South Korea, consumers here began shunning big-ticket spending in the face of falling asset prices and stricter credit.
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BMW on Track with U.S. Spartanburg Plant Expansion-Report
Published: 12/1/08 Publication: Global Insight
BMW remains on track with its planned expansion of its U.S. Spartanburg plant in South Carolina, according to anAutomotive Newsreport. The $750US-million investment comes as BMW makes deep cuts to worldwide production. The expansion will boost annual capacity at the plant to 240,000 units per annum (upa) from the current 160,000 upa by 2012, adding 500 employees to the plant's 5,400-member permanent workforce. The plant will be responsible for BMW's global sport utility vehicle (SUV) production with the move of the X3 successor to the facility in 2010. The current X3 is made at the Magna Steyr unit in Austria. Production of the X6 model at the Spartanburg plant was added to X5 and Z4 output this year. Management at the Spartanburg plant has announced that it will lay off over 700 temporary workers from next month as Z4 production has ceased and U.S. car sales plunge.
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INDIA-CHINA TIE-UP TO SET UP PVC MANUFACTURING PLANT
Published: 11/28/08 Publication: Asia Pulse
Jaipur-based PVC major Dhabariya Agglomerates Private Limited (DAPL) on Thursday tied up with leading Chinese chemical conglomerate Dalian Shide Group to set up a Rs 1 billion (US$20.4 million) PVC manufacturing plant at Coimbatore.
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Japan's Tokuyama to invest RM1.8b
Published: 11/28/08 Publication: New Straits Times (Malaysia)
TOKUYAMA Corporation Bhd from Japan will invest an estimated $500US million (RM1.8 billion) in the Sarawak Corridor of Renewable Energy (Score), building a polycrystalline silicon manufacturing plant.
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Kia Plans A Second Engine Plant In Slovakia
Published: 11/28/08 Publication: Emerging Europe Automotive Insights
South Korean automotive manufacturer Kia Motors is currently planning to set up a new engine plant in Slovakia, which is likely to be situated close to its existing manufacturing facility in Zilina, north Slovakia. The potential investment in the plant is expected to almost double the manufacturer's production capacity in Slovakia annually.
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CHINA'S XUZHOU CONSTRUCTION MACHINERY STEPS UP OVERSEAS PRESENCE
Published: 11/27/08 Publication: Asia Pulse
Xuzhou Construction Machinery Group (XCMG), China's biggest construction machinery maker, expects its overseas sales to grow 25 per cent next year to US$1 billion despite the global financial crisis, its chairman said Wednesday.
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Magna to shutter plants, cut 850 jobs; Top auto-parts firm will close Exterion operation in York Region and shift production to other sites
Published: 11/27/08 Publication: The Toronto Star
The downturn in the North American auto industry hit mighty Magna International Inc. hard yesterday as it announced the closing of two plants and the elimination of 850 jobs north of Toronto by the middle of next year. Magna said it will gradually shut down the Exterion plants in Aurora and Newmarket, two operations that opened during the mid-1980s and currently employ many older workers. The news came only two days after Magna announced it is consolidating two Blau Autotec and Integrated Technologies plants in Brampton and Concord into one operation at the latter site.
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MITSUBISHI HEAVY TO BUILD FORKLIFT FACTORY IN CHINA
Published: 11/27/08 Publication: Asia Pulse
Mitsubishi Heavy Industries Ltd. (TSE:7011) said Wednesday that it plans to invest roughly 3.8 billion yen ($39US.87 million) to build a plant for assembling forklifts in China.
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BMW-Brilliance second plant under construction in Shenyang
Published: 11/26/08 Publication: Xinhua Economic News Service
SHENYANG, Nov. 26 (Xinhua) ? The second plant of BMW-Brilliance Auto, a joint venture between Brilliance China Automotive Holdings (01114.HK, CBA.NYSE) and German luxury carmaker BMW, has started construction in this capital city of Northeast China's Liaoning Province.
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Hyundai urges tax breaks for hybrid cars
Published: 11/26/08 Publication: South China Morning Post
South Korea's Hyundai Motor suggested yesterday that Beijing should introduce substantial tax concessions as a way to encourage consumers to buy low-emission vehicles. "Hyundai's hybrid vehicles will be ready by 2010 and we'll start selling the product in the North American market because places like the United States and Japan give tax benefits for hybrids," said senior executive vice-president Yang Woong-chul in Hong Kong yesterday.
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GREAT WALL MOTOR IN TALK WITH RUSSIAN COMPANY ON NEW JV
Published: 11/26/08 Publication: Asia Pulse
Chinese automaker Great Wall Motor (SEHK:2333) is in talks with a big Russian car dealer on establishing a joint venture, according to Great Wall Motor spokesperson Shang Yugui.
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Low-tier consumers hold key to growth
Published: 11/24/08 Publication: South China Morning Post
A s economic prosperity spreads from large and coastal cities to inland and lower-tier cities, the market for consumer products is also expanding to wider geographical areas and there are signs Beijing's economic measures will actually accelerate such growth. China is a large and heterogeneous market with 1.3 billion people living in more than 600 cities, 20,000 towns and many more villages. Most international companies that began operations in urban centres such as Shanghai, Beijing and Guangzhou have been slowly spreading their networks to reach out to lower-tier consumers.
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Steelcare expands; New $7m plant to be built in Alabama
Published: 11/24/08 Publication: The Hamilton Spectator (Ontario, Canada)
Hamilton's Steelcare will build a $7-million US plant in Alabama despite an economic downturn that has led many firms to postpone expansion plans. Construction on the 80,000-square-foot steel handling plant will begin in the first few months of 2009.
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Bombardier lands q400 deal
Published: 11/21/08 Publication: The Toronto Star
Aircraft maker Bombardier Inc. said Ethiopian Airlines placed an order valued at $242 million for eight Q400 turboprops. The carrier also has an option to buy four more aircraft, which if exercised would push the contract's value to $366 million, the Montreal-based company said.
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Firm envisions network to charge electric vehicles
Published: 11/21/08 Publication: Los Angeles Times
One of the many questions surrounding the development of electric cars is surprisingly prosaic: Will there be someplace to plug the darn things in? A Palo Alto company unveiled a $1-billion plan Thursday that it said would help answer that question -- at least in the Bay Area.
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Ford recalls European chief to run factories
Published: 11/21/08 Publication: The Toronto Star
Ford Motor Co. has pulled an executive back from Europe to run its North American factories in an effort to free the current manufacturing chief to focus on standardizing the automaker's operations across the globe.
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Ford Geelong plant gets reprieve
Published: 11/20/08 Publication: ABC Premium News (Australia)
The Ford motor company has cancelled plans to close its engine production plant in the Victorian city of Geelong. It had been considering shutting the plant, which directly employs about 400 people.
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Green cars pay price for lack of green; Developing hybrids takes lots of money
Published: 11/20/08 Publication: USA TODAY
LOS ANGELES -- The arrival of more fuel-efficient cars and trucks promising cleaner air and more energy independence is being set back as automakers worldwide scramble to hoard cash in an industry meltdown. Carlos Ghosn, CEO of Japan's Nissan Motor and France's Renault, on Wednesday warned that automakers "can't find the financing" for aggressive development of so-called green cars. In a keynote speech at the L.A. Auto Show media preview, Ghosn said companies must husband cash to survive an auto recession expected to last until 2010.
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AUTOS; Ford is rolling out a risky strategy; The firm is tying up billions of dollars in future products even as sales tank.
Published: 11/19/08 Publication: Los Angeles Times
The U.S. auto industry might be in crisis and Big Three executives might be appealing to Congress for a $25-billion bailout, but judging by Ford Motor Co.'s plans for this week's L.A. Auto Show, Detroit's No. 2 carmaker seems to be feeling just swell. Even as General Motors Corp. and Chrysler have scrapped plans to introduce any vehicles at the L.A. event, Ford is unveiling no fewer than six: the Ford Fusion, Fusion hybrid, Mercury Milan, Milan hybrid, Lincoln MKZ and the 2010 Mustang. That's a big number of introductions for any show, even in a good year for auto companies, which 2008 most decidedly is not: Ford's sales are down 18.2% through October, worse than the industry as a whole, compared with last year.
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