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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 chairman, Wang Jianfeng – a new billionaire. Ningbo Joyson, which was founded ...
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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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
PSA’s Faurecia cuts mid-term goals due to recent acquisitions
Faurecia, the supplier controlled by PSA/Peugeot-Citroen, announced it has trimmed its mid-term sales and margin goals as it digests several acquisitions. Faurecia said it would target revenue of 21 billion euros ...
U.S. Justice Department fines Toyo Tires for price-fixing
Japan's Toyo Tire & Rubber Co Ltd has agreed to plead guilty to fixing some auto parts prices and pay a $120 million criminal fine, the U.S. Justice Department announced ...
Report – TI Automotive in talks with Bain Capital for $2 billion sale
According to people familiar with the matter, Bain Capital LLC is in advanced talks to acquire auto parts supplier TI Automotive Ltd in a deal approaching $2 billion. It is the ...

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