This morning’s news that Federal-Mogul opened a new, state-of-the-art Asia Pacific headquarters and technical center in Shanghai was among the most highly read stories this week. The 9,000-square-meter facility houses approximately 300 employees including engineering, sales, purchasing and other administrative activities, as well as powertrain dynamometers, vehicle and braking test cells, and an array of laboratory equipment required to develop and test new technology.
"China is and will continue to be a strategic market for the automotive industry and for Federal-Mogul," said President and Chief Executive Officer Jose Maria Alapont. "Our new Asia Pacific Headquarters and Technical Center will enable us to increase technical support to powertrain and vehicle customers, offering on-site advanced technology development and product engineering in addition to state-of-the-art testing. Federal-Mogul’s significant investment in this region will ensure we grow our capability to provide leading technology and innovation for local and export markets."
In other top news this week, Affinia has filed the necessary paperwork to go public. Once approved, Affinia Group Holdings Inc. would be listed on The New York Stock Exchange under the symbol "AFN." J.P. Morgan, Barclays Capital, BofA Merrill Lynch and Baird will serve as joint book-running managers for the offering. Earlier this year, Affinia reported improved sales and profitability for the first quarter of 2010, which ended March 31.
AMN also featured an Executive Interview with Daniel N. Schildge, president of CRP Industries, Inc. In the interview, Schildge discusses the company’s unique position in the marketplace, footprint in the U.S. and relationship with ContiTech. Schildge also talks about how, through CRP’s business model, the company functions as the NAFTA market business unit for many of its supplier partners.
Fisker Automotive’s news about its "Most Innovative Company of the Year" Award also made the list this week. Fisker received a coveted Stevie Award for business innovation from The 2010 American Business Awards program. More than 200 executives across the country participated in the judging process to determine the finalists and Stevie Award winners.
Finally, the California Air Resources Board’s (CARB) plan to require automotive service providers to check and inflate the tires of each passenger car brought in for service to its recommended tire pressure rating was the most highly read story of the week.
