BorgWarner Expands Timing System Business in India with Buy-out of Joint Venture
BorgWarner engine timing system sales in India expected to show strong growth.
DURA Automotive Systems Announces Global Reorganization
DURA Automotive Systems has announced a comprehensive restructuring of the company into four global business units.
Financier Ross’ International Automotive Components Breaks Ground in India
International Automotive Components Group (IAC), the global parts supplier started by financier Wilbur Ross in 2005, this week broke ground on a new manufacturing and engineering operation in Chakan (Pune district) Maharashtra, India. The new IAC facility, which will represent a capital investment of approximately $25 million, will manufacture vehicle interior components and systems, including instrument panels, cockpits and door assemblies for Indian domestic market passenger cars and medium/heavy duty trucks.
Advance Auto Parts Becomes Title Sponsor of the World of Outlaws Sprint Car Series
Advance Auto Parts has signed on as the 2008 title sponsor for the World of Racing’s World of Outlaws Sprint Car Series. The Advance Auto Parts World of Outlaws Sprint Car Series will celebrate its 30th Anniversary in 2008 with more than 85 event nights in the U.S. and Canada beginning with the season opener at Volusia Speedway Park on Feb. 8 and culminating in November in Charlotte, NC, with the 2008 World of Outlaws World Finals at Lowe’s Motor Speedway.
India: New Hub of the Automotive Industry
India’s car market has emerged as the fastest-growing in the world. With the number of cars sold in the country projected to double by 2010, Europe’s key automotive players are busy building factories in the sub-continent, where costs are low and margins high. In the space of five years, production of passenger cars in India has jumped by more than 100 percent to 1.11 million vehicles sold last year. International analysts agree that the country is in the major league of Asian automotive markets, but until now most car companies preferred China over India as the location for a manufacturing bridgehead.