Remy International Formalizes Long-Term Electric Motor Supply Agreement with AMP Holding
Under the agreement, Remy will be the exclusive electric motor supplier providing the patented Remy HVH250 for the custom AMP electric crossover vehicle conversions.
Remy Receives Final Approval for $60.2 Million American Recovery and Reinvestment Act Grant
Remy was given the grant to accelerate standardization and commercialization of its award-winning Remy HVH electric motor technology.
Delphi Announces Plans to Implement $89.3 Million Award from U.S. Department of Energy
Award will support expansion of engineering capabilities in manufacture of advanced “green” technologies.
Heavy Duty Reman Group to Hold Second Summit
CHANTILLY, VA – APRA’s Heavy Duty Remanufacturing Group (HDRG) will hold its Second Annual Summit Jan. 21, 2008, at the Mirage Hotel and Casino in Las Vegas. The meeting will open at 8:45 am and conclude at 4:45 pm. The Reman Summit will take place just prior to Heavy Duty Aftermarket Week (HDAW). The keynote
GM Receives SEC Request, Carmaker Expects to Pay Up to $500 Million in Delphi Labor Costs
General Motors Corp. said Thursday it received a request from the Securities and Exchange Commission (SEC) for documents related to its recent restatement of past financial results. The documents deal with GM’s accounting for certain foreign exchange contracts and commodities contracts, the automaker said in an SEC filing. Also in the filing, GM narrowed its contingent exposure related to Delphi Corp., its former parts division, to about $7 billion from its previous estimate of $6 billion to $7.5 billion. The automaker expects to reimburse Delphi for certain labor expenses with an initial payment of up to about $500 million when it emerges from bankruptcy, and provide annual labor-related payments of $300 million to $400 million and annual transitional payments of about $100 million.
Saurer Acquires Fairfield Manufacturing Company
Global transmission supplier Saurer has acquired 100 percent of the share capital of Fairfield Manufacturing Co., Inc. In 2005, Fairfield had sales of approximately $230 million and a workforce of 1,650 employees. The company’s headquarters and main production facility is located in Lafayette, IN. In addition, Fairfield has a manufacturing presence in Belgaum, India. Fairfield will be integrated into Saurer’s Transmission Systems division, Graziano Trasmissioni.
Remy International Creates New Aftermarket Services Division
Remy International, which recently changed its name from Delco Remy International, has formed a new aftermarket services department to coordinate brand management and analysis. The new division will report to President and CEO Thomas Snyder but will also be directly responsible to the heads of diesel, electrical, Knopf and locomotive divisions. Al Rowley has been named vice president of the new aftermarket services department.
Hino, Cummins To Offer Medium-, Heavy-Duty Engine Offering
Hino to redirect resources toward “Project Z” development of battery electric vehicles and accelerate production timeline.
Top 5 Stories of the Week
A recap of the top five stories on aftermarketNews during the week of Aug. 24.
Royal Purple Introduces Commercial Lubricant Product Line
The new line of high-performance lubricants has been specifically developed for the over-the-road trucking, construction, mining, agriculture and heavy-duty fleet markets with state-of-the-art technology to optimize equipment performance.