Brose to Expand Manufacturing in Michigan, Add 450 Jobs
Tier One suppliers’ growth in North America requires additional production capacity. Company is adding new manufacturing plant in New Boston, Mich.
U.S. Auto Parts Network Reports First Quarter 2012 Results
Company reports net sales of $87.4 million.
Goodyear Extends Maturities, Increases Liquidity in $3.2 Billion Credit Facilities Refinancing
The company’s existing $1.5 billion asset-based revolving credit facility was increased to $2 billion and its maturity was extended to 2017.
Brazil Offers Tax Breaks for Locally Purchased Auto Parts
As part of a new economic stimulus package, all vehicles sold in Brazil, even those produced locally, will be subject to this 30 percent tax beginning in 2013; however, companies can receive tax credits on vehicles if the majority of the parts are purchased locally.
Phase III of Yokohama’s ‘Forever Forest’ Program Branches Out at Salem, Va., Facility
Environmental project aims to plant 500,000 trees worldwide by 2017.
Continental Tire Holds Groundbreaking Ceremony for New Plant in Sumter, S.C.
More than $500 million is being invested in the project, which will bring roughly 1,600 new jobs to South Carolina.
Tenneco Amends and Restates its Senior Credit Facility
Company completes consent solicitation and indenture amendments for 8 1/8 percent Senior Notes due 2015.
Issues on 1234yf Refrigerant Still Up in the Air
There has been a lot of talk about the new HFO-1234yf A/C refrigerant making its way into new vehicles. Some of the misconceptions and rumors about the refrigerant were addressed at the Mobile Air Conditioning Society Worldwide (MACS) convention and trade show in January. One of the biggest concerns techs and shop owners have is which vehicles will have the new system.
Goodyear Signs Five-Year Extension with NASCAR
Through 2017, Goodyear will be the official race tire for the NASCAR Sprint Cup, Nationwide and the Camping World Truck Series.
Timken to Invest $225 Million at Faircrest Steel Plant in Ohio
Newly ratified labor agreement with USW clears way for investment. Project targeted at serving energy and industrial market demand; slated to increase productivity and throughput for profitable growth.