Hamanakodenso Establishes Production Company for Automotive Sensors and Solenoid Valves in Vietnam
HDVN will produce sensors for the ASEAN market, as well as solenoid valves for all markets, with the exception of Japan.
BorgWarner Posts Third Quarter Results; Revises Outlook for 2008
The company said international sales offset steep declines in U.S. revenue due to declining economic conditions in the market. The company also adjusted its outlook for the remainder of the year to reflect deteriorating global economic conditions and automotive production declines in Europe.
Tenneco Announces “Aggressive” Restructuring Actions
This major restructuring is designed to further reduce structural costs and capacity in response to the worsening industry downturn.
Executive Interview with Federal-Mogul’s Jose Maria Alapont
In this most recent interview, Federal-Mogul President and CEO Jose Maria Alapont shares his thoughts on such industry issues as green technologies, the challenges in the automotive sector, our country’s reliance on foreign oil and what Federal-Mogul looks like post-Chapter 11.
Cooper Industries Reports 15 Percent Increase in Third Quarter Revenues
Third quarter 2008 revenues increased 15 percent to $1.73 billion, compared with $1.50 billion for the same period last year.
Timken Reports Third Quarter Sales of $1.48 Billion
The company said strong sales in global industrial markets largely offset the impact of weaker automotive demand.
Snap-on Sales Increase 2.5 Percent
Snap-on’s gross profit improved to 44.7 percent of net sales in 2008 from 44.2 percent in 2007; operating expenses improved to 33 percent of net sales in 2008 from 34.4 percent in 2007.
Federal-Mogul Reports Solid Sales Despite Global Economic Downturn
Federal-Mogul sales for the three-month period ending Sept. 30, increased $6 million to $1,692 million, compared to $1,686 million during the same period a year ago.
Modine to Scale Back Vehicular HVAC Business, Plans to Divest Modine Korea
Modine said its other vehicular HVAC businesses, including its 50 percent share in Anhui Jianghaui Mando Climate Control Co., Ltd., located in Hefei, China, its North American vehicular HVAC module assembly business and its assembly operations in its Shanghai, China facility, will be the subject of further evaluation over the next 12 to 18 months.
GM May Sell ACDelco
GM announced today that it is exploring a potential sale of ACDelco, its global independent aftermarket parts business, a brand of GM Service & Parts Operations.