Visteon Opens China Technical Center in Shanghai
Visteon Corp. and Yanfeng Visteon today celebrated the opening of the China Technical Center (CTC) in Shanghai. This opening follows other investments the company has recently made in the Asia Pacific region, including a joint venture with China’s third largest automaker ChangAn and the acquisition of a majority stake in Zhejiang Shaoxing Betung Instrument Co., Ltd.
Lear Corporation Names Vickie Piner Vice President – Supplier Diversity and Development
Lear Corporation announced the appointment of Vickie Piner to vice president – supplier diversity and development within the company’s global purchasing division. Piner reports to Lear Vice President – Global Purchasing, Joe Sefcik and succeeds Charles White who has retired from Lear.
Lear’s Plunging Profit to Send Jobs Packing
The bug afflicting Detroit’s automotive industry is infecting even the healthiest companies now. Auto supplier Lear Corp. on Friday said it is planning an aggressive cost-cutting strategy, which includes moving manufacturing and engineering work to low-cost countries, after it posted a $75.8-million decline in profits during the first quarter of the year.
Magna’s Stronach Splits CEO Title Between Donald Walker and Siegfried Wolf
Magna International Inc. founder Frank Stronach has split the auto parts maker’s chief executive title between two established Magna group executives, Donald Walker and Siegfried Wolf.
Struggling Detroit Woos Japan’s Carmakers
At many union halls in Michigan, signs on parking lots still warn that foreign-made cars “will be towed away at owner’s expense.” So why is Governor Jennifer Granholm of Michigan pushing so hard to close a sweetheart land deal with Toyota?
Struggling Detroit Woos Japan’s Carmakers
At many union halls in Michigan, signs on parking lots still warn that foreign-made cars “will be towed away at owner’s expense.” So why is Governor Jennifer Granholm of Michigan pushing so hard to close a sweetheart land deal with Toyota?
Parts Vendors’ Shares Gain in Wake of Cooper Tire Deal
Shares in auto-parts suppliers got a boost Friday from a billion-dollar deal in which two private-equity firms are carving off the parts business of Cooper Tire & Rubber Co. Cypress Group and Goldman Sachs Capital Partners have agreed to buy Cooper-Standard Automotive, a unit of Findlay, Ohio-based Cooper Tire, for $1.165 billion. Goldman Sachs Capital Partners is a private-equity investment arm of Goldman Sachs Group.
GM’s Hogan Defects to Magna
Mark Hogan, the head of advanced vehicle development at General Motors Corp., is leaving at the end of the month to become president of Canadian auto parts giant Magna International Inc., according to people familiar with the matter.
SEMA Sets Fall Dates for Installer Certification Tests
The Specialty Equipment Market Association (SEMA) will hold its fall test session for Z1-Z4 accessory installation certification on Tuesday, Nov. 9, in more than 700 locations around the United States and Canada, as well as elsewhere outside the United States. All tests begin at 7 p.m. Registration for the tests closes Wednesday, Sept. 22.
Lear Plans to Close Auburn Hills, Mich., Plant
Multibillion-dollar auto interiors supplier Lear Corp. said Thursday that it plans to close its Auburn Hills, Mich., plant by mid-June, a move that will put the factory’s 305 hourly employees out of work. The Auburn Hills plant makes seats for the Buick LeSabre and Buick Park Avenue sedans, which are built at General Motors Corp.’s Orion Township plant.