Delphi Reports Second Quarter Results
Delphi Corp. reported second quarter revenues of $7.5 billion, up 6 percent compared with the same period in 2003. The company said revenues were driven by 23 percent growth in non-GM sales. Strong revenue growth and continued structural cost improvements contributed to Delphi’s GAAP net income of $131 million or 23 cents per share, compared to second quarter 2003 net income of $88 million or 16 cents per share. On a pro-forma basis, earnings were $156 million or 28 cents per share, in line with the First Call estimate. The company generated $469 million in operating cash flow, up from $344 million in the second quarter 2003.
Monro Muffler Brake, Inc. Announces Record First Quarter Sales and Earnings
Monro Muffler Brake announced financial results for the first quarter, which ended on June 26.
Tower Automotive CEO Elected to Ashland Inc. Board
Kathleen Ligocki, president and CEO of Tower Automotive, has been elected to the board of directors of Ashland Inc.
DST Asks: How Do you Make Strategic Business Decisions
There are almost as many sources of reference for making strategic business decisions as there are choices for planning and securing your future. Our respondents to last week’s question were in agreement that it takes collaborative efforts to design and implement a corporate roadmap, including internal management, consultants, observing and copying competitors’ strategies, industry journals and publications and technology supplier partnerships.
New Fel-Pro Master Gasket Catalog Features Nearly 700 Additional Part Numbers
The Fel-Pro brand of replacement gaskets, manufactured by Federal-Mogul Corp., has published a new master gasket catalog featuring nearly 700 additional part numbers and many new applications. The new Fel-Pro Master Gasket Catalog covers the brand’s line of sealing solutions for passenger cars, light trucks, sport utility vehicles, vans and other applications. Among the catalog’s 696 new part numbers are a broad range of Fel-Pro Head Installation Sets (HIS); a variety of premium head gaskets for several new complete Head Sets (HS) for popular automotive applications.
Johnson Controls to Expand Vehicle Component Plant in China
Since entering China’s emerging automotive market in 1997, vehicle-interior supplier Johnson Controls has invested millions of dollars, opened 12 facilities and won sourcing contracts for dozens of cars and trucks. Now, it’s gearing up for more growth with an $8 million expansion of a seat-component production plant near Shanghai.
Michelin to Expand Georgia Retread Facility
Michelin Retread Technologies (MRT) said it will expand its Covington, Ga., manufacturing facility in order to meet a continuing increase in customer demand. Located in Lochridge Industrial Park in Covington, southeast of Atlanta, the facility produces a variety of pre-mold treads for MRT franchises and retread plants throughout North America.
Auto Components Supplier Set to Quadruple China Sales
World-leading automotive parts and components supplier Robert Bosch GmbH plans to cash in on China’s fast-growing auto sector by quadrupling its sales in the nation by 2012. The company plans to lift its sales to $6 billion by 2012 from last year’s $1.56 billion.
Visteon Appoints New Director of Product Development for Asia Pacific
Following news earlier this week of the company’s continued expansion in the Asia Pacific region, Visteon has named Daniel Linder to the position of director of product development, Asia Pacific. Based in Shanghai, China, Linder will guide Visteon’s technical capabilities to support new business opportunities in the region, and will facilitate coordination with Visteon’s network of global engineering centers.
Behr America Expands Production at Dayton, Ohio, Facility
Behr America has completed the first phase of a multi-million-dollar expansion plan in Dayton, Ohio, which has the company taking full ownership of Behr Dayton Thermal Products. Previously, Behr Dayton Thermal Products was co-owned by Behr America and DaimlerChrysler Corp., a joint venture that lasted two years. Behr America, a subsidiary of German company Behr GmbH & Co. KG, supplies engine-cooling and air-conditioning systems to the automotive industry.