Post Tagged with: "auto parts"

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US auto supplier to shut down European factories

US auto supplier to shut down European factories

American parts maker Cooper-Standard Automotive has a new cost cutting strategy that includes the shutdown of some of its European plants, with the restructuring Plan hitting jobs in Germany and France. The company – which is not among the top tier suppliers but still has 12 factories in western Europe […]

Magna considering new purchases

Magna considering new purchases

As Magna, the largest auto parts maker in North America, distances from the strategy envisioned by its debt-weary founder Frank Stronach, the company now mulls acquisitions worth almost $4 billion. According to Chief Executive Officer Don Walker, the company is now more interested in financing from outside sources its needed […]

China: auto sector evolution makes new billionaires

China: auto sector evolution makes new billionaires

After China in 2013 became the first market in the world to best the 20 million units sold, the implications go as far as transforming some of its businesses into billion ones. For example, automotive accessories manufacturer Ningbo Joyson Electronics, which almost doubled its value since January, has made its […]

Japanese supplier eyes double China sales on VW to GM orders

Japanese supplier eyes double China sales on VW to GM orders

Tsubakimoto Chain Co., a Toyota supplier, forecasts China auto parts sales to more than double in four years as carmakers including Volkswagen and General Motors raise orders to diversify supply chains. Toru Fujiwara, managing executive officer, said the maker of transmission chains and gears expects sales to jump to more […]

Auto suppliers expand their presence in Russia

Auto suppliers expand their presence in Russia

Russia’s auto parts industry is expected to improve as suppliers such as Visteon and Robert Bosch increase their presence in the market and component makers such as GKN Driveline, TRW Automotive and Getrag consider setting up operations there. The suppliers are being drawn to Russia by automakers that hope to […]

Toyota supplier boosts spending for new models

Toyota supplier boosts spending for new models

Toyoda Gosei Co., a supplier to Toyota Motor Corp., the world’s biggest automaker, plans to increase capital spending next fiscal year as carmakers roll out new models. Tadashi Arashima, president of the maker of auto parts including steering wheels and air bags, said in an interview that capital expenditure will […]

Japanese auto supplier settles price fixing trial

Japanese auto supplier settles price fixing trial

Nippon Seiki Co. Ltd. has agreed to pay $4.56 million to consumers and cooperate with attorneys who are suing many other firms, making it the first settlement in a massive antitrust case. The Japanese auto supplier in 2012 pleaded guilty and agreed to pay a $1 million criminal fine for […]

US: auto parts maker Tomkins ready for IPO

US: auto parts maker Tomkins ready for IPO

Tomkins Plc, a manufacturer of auto parts and building products that was taken private in 2010 in a $5 billion leveraged buyout, filed for an initial public offering in the United States under the name Gates Global Inc. In the filing, Gates proposed to raise up to $100 million in […]

Brazilian auto parts supplier eyes acquisitions

Brazilian auto parts supplier eyes acquisitions

Plans for Brazilian production by global automakers such as BMW and Audi are spurring the country’s best-selling parts supplier, Autometal SA, to hunt for acquisitions in a market poised for consolidation. Brazilian suppliers are being strained as companies such as Mercedes-Benz and Chinese small-car producer Chery Automobile Co. rush to […]