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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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Honda Delays Argentine Plant
Published: 1/8/09 Publication: Americas Automotive Insights
Japanese auto manufacturer Honda Motor has put back the start of construction of its new passenger car plant in Argentina from H209 to mid-2010. The decision is the result of falling demand for vehicles in the Latin American markets. The Japanese manufacturer's Argentine subsidiary, Honda Motor de Argentina plans to construct a $100USmn automobile plant in Buenos Aires province to undertake vehicle as well as engine assembly including stamping, welding and painting. The expansion plans came on the back of increased economic stability in the Argentine market, following its recovery from the crisis of 2002. Thereafter the increase in the size of the market from approximately 98,000 units in 2002 to approximately 450,000 units in 2006 helped the manufacturer to achieve a 50% year-on-year (y-o-y) growth in sales in 2006. This optimism prompted the manufacturer to plan the construction of a production plant with an estimated annual production capacity of some 30,000 units, the equivalent
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Daimler And Foton Forge Ahead With JV
Published: 1/8/09 Publication: Asia Pacific Automotive Insights
China's Beiqi Foton Motor Co's board of directors has granted approval for a joint venture with Germany's Daimler. Beiqi Foton Daimler Automotive will produce medium and heavy trucks, as well as associated parts and engines, using Beiqi Foton's production facilities. The Chinese company is contributing production assets from its Auman brand in return for a 50% stake in the joint venture, while Daimler will take 40% and its local subsidiary, Daimler Northeast Asia will claim the remaining 10%. Both of the Daimler stakes will be acquired with cash.
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Feds toss labor plea by VW's contractors
Published: 1/7/09 Publication: Chattanooga Times Free Press (Tennessee)
mpare@timesfreepress.com The National Labor Relations Board has dismissed a charge related to a contract dispute in which contractors claimed union groups were trying to drive up wages on the Volkswagen project.
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FLIR Systems Announces Delivery Orders for $30.4 Million From the U.S. Army
Published: 1/7/09 Publication: Marketwire
FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded two delivery orders totaling $30.4 million from the U.S. Army Space and Missile Defense Command in Huntsville, Alabama for its Star SAFIRE(R) III stabilized multi sensor systems. These delivery orders were issued under a previously announced contract modification of an indefinite delivery, indefinite quantity contract. The units delivered under these orders will be employed in the Base Expeditionary and Surveillance Systems - Combined (BETSS-C) and the Ground Based Operational Surveillance System (GBOSS) programs in support of ongoing U.S. Armed Forces force protection efforts. Work on the delivery orders will begin immediately and be completed within the next twelve months in FLIR's Wilsonville, Oregon facility.
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THAILAND'S DELTA SUSPENDS PLAN TO INVEST US$50 MLN IN INDIA
Published: 1/6/09 Publication: Asia Pulse
BANGKOK/ NEW DELHI, Jan 6 Asia Pulse - Thailand's biggest electronics part maker Delta Electronics has frozen its plan to invest about US$50 million to build a plant in Chennai, in the midst of the global slowdown, says a media report.
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$1B investment in new plant expected
Published: 1/6/09 Publication: Corpus Christi Caller-Times
The company proposing to build a pipe manufacturing facility in Gregory plans to invest about $1 billion. Local economic development officials say it could be the largest investment in the United States by a Chinese company. "This is our Toyota," said David P. Engel, chairman of the Corpus Christi Regional Economic Development Corp. He was referring both to the pickup manufacturing plant that opened in San Antonio in 2006 and to the potential entree to other economic opportunities through relationships with a different part of the world. Taijin Pipe Group Corp., or TPCO, plans to build a mini-mill through its subsidiary, TPCO America Corp. In a mini-mill, products are manufactured from scrap steel melted on an electric arc furnace. The Gregory facility will produce seamless casing pipes that are used in oil and gas wells.
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Cars outsell trucks in rough year; But luxury-auto sales dive; even hybrids hit
Published: 1/6/09 Publication: USA TODAY
DETROIT -- The final numbers are in, and it's official: 2008 was a crummy year to sell cars. Not only did sales fall off a cliff, but consumer preferences changed faster than automakers could predict or react to. Gas prices skyrocketed, causing consumers to flee SUVs and trucks for smaller cars. Then the financial crisis hit, ruining nearly everyone's appetite for any vehicle. The sales year "was like two different years, and it really was driven by ... an extreme shift in the price of gasoline, causing an extreme shift in buyer preferences," says Jim Lentz, Toyota's U.S. sales president.
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Daimler SEA gets new chief
Published: 1/6/09 Publication: The Straits Times (Singapore)
GERMAN car-maker Daimler has appointed a new head for its regional office here. Mr Wolfgang Huppenbauer, 55, is Daimler South-east Asia's new chief executive. He replaces Dr Rainer Thiel, 60, who has retired after being at the helm since 2004.
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$4USb bailout for Chrysler
Published: 1/5/09 Publication: The New Zealand Herald
Chrysler, burning through cash as sales slide, has received $4US billion ($6.8 billion) in an initial loan from the US Treasury to help stave off a collapse that could worsen a recession.
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A brave new world; AGENDA Amey's environmental director Keith Sexton looks at the green challenge facing companies
Published: 1/5/09 Publication: Birmingham Post
At a time of major economic uncertainty what now for business engagement in the climate change and sustainability agendas? Amongst the majority of large UK businesses there is an acceptance climate change is a reality and co-ordinated and targeted action needs to be taken to avert significant problems in the future. The transition to an increasingly carbon- constrained economy will bring opportunities and threats for businesses.
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Auto industry worldwide receiving aid
Published: 1/5/09 Publication: The Daily Yomiuri(Tokyo)
With the deepening recession in the auto industry worldwide, not only the U.S. government but also those in Europe and Asia are stepping up efforts to support their respective car industries. Such moves have accelerated because trouble in the auto industry affects a wide variety of companies, ranging from component and materials suppliers to dealers. However, some observers are concerned that government assistance to troubled companies may develop into protectionism.
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Fincantieri seals Manitowoc takeover
Published: 1/5/09 Publication: Lloyd's List
ITALIAN shipbuilder Fincantieri has completed its $120m acquisition of Manitowoc Marine Group to begin operations in the US, writes Martyn Wingrove.
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Manufacturing Activity at 28-Year Low
January 2, 2008 - The Institute for Supply Management December 2008 Report on Business shows that manufacturing activity slipped for the fifth consecutive month to its lowest level in 28 years. None of the reporting manufacturing industries reported growth in December. ISM Report
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Treasury Responds to Congressional Oversight Panel on TARP
December 31, 2008 - The U.S. Treasury Department issued a written response to questions posed by the Congressional Oversight Panel on measures taken under the Emergency Economic Stabilization Act to stabilize the finanical markets and get the economy moving again, including how funds from the Troubled Assets Relief Program are being used toward this goal.
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AutoSleuth: News, Trends and Gossip
Published: 1/2/09 Publication: Newsday (New York)
Hot off the press! -- No takers for Hummer . . .yet: Although General Motors boss Rick Wagoner says the automaker has received "significant interest" in the sale of more than US $4 billion worth of assets, apparently the company's Hummer brand isn't quite making the phone ring off the hook. Although previous reports had India's Mahindra & Mahindra pegged as the leading candidate to buy GM's off-road brand, the automaker now reveals that it is not interested. "There has been a lot of speculation. I want to say categorically we are not pursuing Hummer," Mahindra Vice Chairman Anand Mahindra told trade paper Automotive News. The Sleuth also hears that China's Hunan Changfeng Motor Co. has shied away from buying Hummer. GM might have a harder time than it first thought about unloading Hummer in an environment where fuel economy seems to be a sign of the future.
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Air Products is bucking the trend Company plans an expansion in two stages on a 13-acre St. Charles site that will add about 100 jobs.
Published: 1/2/09 Publication: St. Louis Post-Dispatch (Missouri)
In the grand scheme of things, the new production facility Air Products is building at Fountain Lakes Business Park in St. Charles might not seem like much. But the project offers a glimmer of better days to come, according to commercial real estate broker Kevin Gallagher. "With all the news that's negative, (the project) is significant," he said. "In terms of jobs and investment, it's bucking the tide of disinvestment and projects being put on hold. Here's an example of a manufacturer that's moving forward."
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Lotus Planning to Launch Electric Sports Car
Published: 1/2/09 Publication: Global Insight
Lotus is planning to manufacture an electric car with the concept version of the new model likely to appear at this March's Geneva Motor Show. According to aFinancial Times (FT)report, the car is likely to have a range-extending small gasoline (petrol) engine in conjunction with a lithium-ion powered electric battery pack. The chief executive of Lotus, Mike Kimberly, said, "Don't be surprised to see an electric Lotus shortly. We are working on the technologies that will go behind it." Kimberly added that the model would be, "become one of the showcases for the world of what you can do with electric vehicle technology".
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Rapid Development of Car Manufacturing Industry in Iran
Published: 1/1/09 Publication: Moj News Agency
Three years ago, when Iran`s biggest car company stopped making the Paykan many Iranians regarded it as a loss to their way of life. But now a more economical car, built under a license from South Korea`s Kia Motors, is king of the country`s roads. The Pride has been produced in Iran for about a decade, but it has only recently started to capture the hearts of the country`s motorists.
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