Johnson Controls Gives Two Key Leaders New Roles Within its Automotive Business
Johnson Controls has appointed two top executives to new leadership positions within its automotive group, which is one of the world’s largest supplier of automotive interiors and batteries. Byron Foster has been appointed group vice president and general manager, customer business units — North America. Carolyn Woznicki has been appointed vice president of purchasing — North America.
Dana Names New Senior Vice President Of Global Operations
Chris Clark joins Dana from Yanfeng Automotive Interiors, where he most recently served as vice president of operations.
Julie Ragland Named Navistar Senior Vice President And Chief Information Officer
Ragland joins the company from Adient, a leading supplier of automotive interiors, where she served as vice president, Information Technology (IT), and helped to establish the company’s first IT organization after its separation from Johnson Controls.
Visteon Signs Agreement To Sell Shares In Duckyang Joint Venture For $24.1 Million
Visteon Corp. has announced that the company has reached an agreement to sell its 50 percent ownership stake in a Korean automotive interiors joint venture, Duckyang Industry Co. Ltd., in support of its previously announced intentions to divest its interiors business.
PPG Acquires Coatings Resource Corporation
PPG Industries has acquired certain assets of Coatings Resource Corporation (CRC), located in Huntington Beach, CA. Terms were not disclosed. CRC produces paints, lacquers and varnishes for use on metal and wood industrial and consumer products, including audio-visual equipment, sporting goods and automotive interiors. It also produces injectable colorants, blowing agents, processing aids, ultraviolet (UV) stabilizers and anti-oxidants used on various types of plastics. CRC operates one manufacturing facility in Huntington Beach and employs approximately 30 people. The company has been in business for more than 30 years.
Delphi Sells Unit for $106 Million
Delphi Corp. plans to sell the part of its business that makes automotive interiors and fasteners for $106 million to investment firm the Renco Group Inc. The two companies, which announced the proposed deal earlier this year, finalized the details Monday. But Renco’s bid for Delphi’s console and instrument panel business could be topped in an auction the Troy, MI-based supplier must hold in its bankruptcy reorganization.
Chinese Auto Part Makers Seek Overseas Mergers and Acquisitions
China’s auto part sector will see more overseas mergers and acquisitions in the years ahead, as more local Chinese manufacturers look for overseas partners, insiders predicted. Huaxiang Group, one of the world’s top 500 auto part companies, announced earlier this month that it had acquired a subsidiary of the world’s third largest auto part maker, Lawrence Automotive Interiors.
Johnson Controls to Buy Battery Business
Battery-maker Johnson Controls Inc. on Thursday announced it has agreed to buy the car battery business of Fiamm Group, a privately held Italian company. The Milwaukee-based company, which also makes automotive interiors and cooling and heating systems for buildings, said it will acquire Fiamm’s battery operations, which have annual revenues of about $241 million.
Scandal Widens in European Car Sector; Parts Official Resigns in France Amid Wave of Bribes
The chief executive of a leading French auto parts supplier stepped down Wednesday amid charges by prosecutors that he was aware of bribes allegedly paid to Germany’s top automakers to win their business. Directors at Faurecia, one of the biggest European makers of automotive interiors, met late Wednesday and announced the resignation of Pierre Levi, saying that his departure was “in the best interests of the group.”
Johnson Controls Sets Restructuring Plan
Johnson Controls Inc., a supplier of automotive interiors, Thursday unveiled a restructuring plan that will lead to charges of up $140 million. The plan is designed to cut costs and improve efficiencies worldwide and involves work force reductions and plant consolidations. Johnson Controls did not provide additional details but said it expects to complete the restructuring over the next 12 months.