Private Equity Firms Drive Away With More Auto Parts Deals
The auto parts industry continues to be one of the favorite places for private equity firms to put their money as they invested more than $1.5 billion in the industry in July.
Visteon Presents Summit Award to the GM of Its Shanghai Joint Venture
The general manager of Visteon’s automotive electronics joint venture in Shanghai, China, has been presented with company’s highest form of recognition — a Summit Award — for exceptional accomplishments in 2003. Alfeu Doria, general manager, YanFeng Visteon Electronics, was one of six individuals and teams recognized with Summit Awards by Visteon Chairman and CEO Peter Pestillo and President and COO Michael Johnston.
Modine Wins High Volume Condenser Program from PSA
Modine Manufacturing Co. has received the largest condenser order in the company’s 88-year history, from the European automobile manufacturer PSA Peugeot Citroen. The condensers will be used in several models for PSA, which has been one of the fastest-growing carmakers in the past five years. Modine will start production in 2006 for the anticipated $15 million order, approximately half of which represents incremental business. The air conditioning condensers will be manufactured in a highly specialized facility in Austria, which started in 1984 as a joint venture.