Frost & Sullivan Recognizes International Truck and Engine for Industry Innovation and Advancement
Frost & Sullivan recently recognized International Truck and Engine Corp. with the 2006 Medium-Heavy Truck Original Equipment Industry Innovation & Advancement of the Year Award for developing commercial vehicle telematics infrastructures aimed at maximizing the operating profits of trucks and buses. The award recognizes the company’s excellent entrepreneurship in introducing the International Aware Vehicle Intelligence solution.
Siemens VDO Appoints Director of Corporate Strategy
Siemens VDO has appointed David Royce to direct of the company’s North American Corporate Strategy department. In this new role, he is responsible for identifying, assessing and realizing business opportunities that will advance the company to a leading position in the North American market, including strategy implementation, technology planning, mergers and acquisitions, industry, market and competitive research and coordination of strategic projects.
Remy International Posts Third Quarter Results
Remy International announced net sales of $316 million for the quarter ending Sept. 30, an increase of $61.7 million, or 24.3 percent, compared with the third quarter of 2004 due to the impact of the Unit Parts Company (UPC) acquisition in March 2005, as well as a 45 percent increase in powertrain sales and a 10 percent increase in OEM sales. But the operating income amounted to $1.5 million in the third quarter of 2005 compared to $22.2 million reported in the same period last year.
Thomas Brady to Join Manufacturers Products Company as President, CEO
Automotive industry and General Motors veteran F. Thomas Brady has returned to manufacturing as the new president and CEO of Warren, MI-based Manufacturers Products Co.
Visteon to Expand Manufacturing Operations in Slovakia with Focused Factory for Kia
Visteon Corporation announced that it will expand its manufacturing footprint in Eastern Europe by building a focused factory in Dubnica, Slovak Republic, dedicated to supporting Kia.
Detroit Diesel Announces Management Appointments
Detroit Diesel Corporation (DDC) announced the appointments of John Galbraith to the position of chief quality officer and Glenn Lysinger to the newly created position of chief compliance officer. Both will report to Carsten Reinhardt, president and chief executive officer of Detroit Diesel Corporation.
Remy International, Inc. Announces Second Quarter Results
Remy International, Inc. announced net sales of $312.3 million and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of $6.2 million for the quarter ending June 30, 2005.
BorgWarner in Right Place to Compete
BorgWarner Inc., the new auto supplier on the block in Auburn Hills, Mich., has a competitive edge that hasn’t gone unnoticed on Wall Street. While some automotive-related stocks have seen double-digit declines in the past year, BorgWarner has seen double-digit gains. And, even with the difficulties faced by auto stocks, BorgWarner has continued to get favorable marks from Wall Street analysts.
Hayes Lemmerz’ International Wheel Group Names Managing Director of South America
Hayes Lemmerz International has appointed Don Septer to the position of managing director of the company’s International Wheel Group’s South American Operations, effective February 1. Septer was previously director of operations for Hayes Lemmerz’ Brake and Powertrain Group. In this new role, he will report directly to Fred Bentley, president of the company’s International Wheel Group.
GM, DCX Join Forces To Make Hybrid Engines
General Motors Corp. and DaimlerChrysler AG are teaming up to develop fuel-saving hybrid engines in hopes of cashing in on an expanding market already dominated by hybrid leaders Toyota Motor Corp. and Honda Motor Co. Financial terms of the agreement between GM, the world’s largest automaker, and its German-American rival weren’t disclosed Monday, but Tom Stephens, GM’s group vice president for powertrains, said the collaboration likely will involve an investment of hundreds of millions of dollars.