Sumitomo Rubber to Expand Capacity at Six Asian Tire Plants
Sumitomo Rubber Industries plans to spend an extra $45.8 million to increase capacity at six of its tire plants in Japan and Asia to meet growing demands, according to a company spokesperson. The company, based in western Japan, had already planned to invest $302 million over the next two years. The Japanese tiremaker will invest about 27.5 million at its plants in Japan and approximately $18.3 million at factories in China and Indonesia to increase annual production capacity by 12 percent, from 2003 levels.
Executive Interview with Paul Foley, Vice President, Automotive Aftermarket Suppliers Association (AASA)
Our latest edition of “Executive Interview” features Paul Foley, vice president of the Automotive Aftermarket Suppliers Association (AASA), a market segment of the Motor & Equipment Manufacturers Association (MEMA). Join us as Foley brings us up to speed on the rapid growth of AASA since its creation two years ago, as well as several industry initiatives AASA is currently focusing on.
AASA Partners with American Express Tax and Business Services to Co-Sponsor Automotive Aftermarket Executives Roundtable
American Express Tax and Business Services (TBS) announced that MEMA’s Automotive Aftermarket Suppliers Association (AASA) will co-sponsor the bi-annual Automotive Aftermarket Executives Roundtable on September 29, 2004 in Detroit, Mich., and September 30, 2004 in Chicago, Ill. The discussion will focus on A China Update: How to Succeed and will specifically cover current conditions, determining where are you in the world, knowing when to seek help, major business mistakes, developing a positive business relationship, communicating amongst your locations and tax planning.
Timken Earns Product Training Award
CANTON, Ohio — The Timken Co. recently won the Manufacturer Product Training Award from Progressive Distributor magazine in recognition of its Distributor Training School. Established nearly 50 years ago, Timken’s Distributor Training School travels throughout the U.S. and Canada each year teaching industrial distributors and end-users about the basic types of bearings, how and where
Timken Earns Product Training Award
The Timken Co. recently won the Manufacturer Product Training Award from Progressive Distributor magazine in recognition of its Distributor Training School. Established nearly 50 years ago, Timken’s Distributor Training School travels throughout the U.S. and Canada each year teaching industrial distributors and end-users about the basic types of bearings, how and where they are used and proper installation and maintenance practices.
Raytech Announces Second Quarter Results for 2004
Raytech Corp., which makes wet and dry clutch, power transmission and brake systems for automotive OEM, heavy-duty on-and-off highway vehicles and aftermarket vehicular power transmission systems, has reported results for the second quarter of 2004.
Automakers Shift Focus to Health Care Crisis
An aging former auto industry worker underscores a key challenge facing the U.S. automotive industry and all of manufacturing in the years to come. “Our oldest retiree is 109 years old,” said Jerry Elson, vice president at General Motors. The man, who retired in 1958, is the oldest of 1.1 million people — including 500,000 retirees — for whom GM spent more than $4.8 billion on health care last year. That’s more than the largest U.S. automaker spends on steel, even with steel prices up 30 percent to 60 percent this year.
Michelin Workers Could Strike
Based on statements made by United Steelworkers of America (USWA) negotiators in Pittsburgh, workers at unionized Michelin North America plants in the U.S. could go on strike if a new contract isn’t reached by USWA’s Aug. 11 deadline.
Spectra Premium Concludes the Acquisition of Trimag
Spectra Premium Industries Inc. (SPI), a North American manufacturer of automobile, light-truck and heavy-duty truck aftermarket parts, has completed its acquisition of a 90 percent of interest in Trimag, L.P. Investissement Quebec will own the other 10 percent of interest in Trimag.
DENSO Announces First-Quarter Financial Results
DENSO Corporation announced its global financial results for the first quarter ended June 30, 2004.