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DENSO Says Third Quarter Global Consolidated Sales are Up 14.7 Percent

TOKYO — DENSO Corp. has announced global financial results for the third quarter ended Dec. 31, 2006. Consolidated net sales totaled $7.8 billion, a 14.7 percent increase from the previous year. Operating income totaled $748 million, a 3.3 percent increase from the previous year. Income before income taxes and minority interests for the period totaled

Tenneco Names Gregg Sherrill Chairman and CEO

Tenneco’s board of directors has named Gregg Sherrill as the company’s new chairman and chief executive officer. Sherrill, 53, is currently president, Power Solutions at Johnson Controls Inc. His appointment is effective Jan. 15.

Executive Interview with Dennis Welvaert, President, North American Aftermarket Division, Dayco Products, LLC, A Division of Mark IV Industries

While in Las Vegas, aftermarketNews.com sat down with Dayco’s Dennis Welvaert to discuss the current state of aftermarket brands and the increasing competition from OE parts and service.

Hayes Lemmerz Third Quarter Sales Down 2.4 Percent

Hayes Lemmerz International has reported that sales for the fiscal third quarter ended Oct. 31, were $589.5 million, down 2.4 percent from $604 million a year earlier. Loss from operations for the fiscal third quarter was $27.6 million, compared with earnings from operations of $16.8 million in the third quarter of 2005. The company’s net loss in the third quarter was $59.6 million, compared to a net loss of $13.3 million in the same period a year earlier. The loss includes a $39 million asset impairment charge related to the company’s suspension facilities in Bristol, IN, and Montague, MI. Excluding the impairment charge, the company had earnings from operations of $11.4 million and a net loss of $20.6 million during the quarter.

ArvinMeritor to Boost Asian Business

ArvinMeritor Inc., the light-vehicle and truck-parts maker, is aiming to triple its business with Asian vehicle makers during the next five years and is launching a restructuring program that will look at cost cuts, revenue growth and product development. The moves come as ArvinMeritor faces a rough ride in the near term.

Detroit Free Press Tom Walsh Column: China’s No Joke in the Auto World

It would be easy to dismiss Auto China 2006, the 10-day show in Beijing that wrapped up last week, as a pretender on the world automotive scene. With its deafening music, raffle drawings, flying acrobats and dance acts, and Disneyesque costumed donkeys, roosters, penguins and oranges strolling around, plus all the copycat cars and names, the atmosphere was more carnival than world-class business event. But Auto China 2006 is no more a pretender than its host country, China, which is forcing massive change in global auto markets and some of the world’s industrial giants.

U.S. Rises in Auto Reliability Ratings

From AFX News Limited DETROIT — Ford’s new Fusion model earned high marks from both Consumer Reports testers and consumers who rated its reliability, the magazine said in its 2007 new car preview, showing that U.S. automakers may be making strides in initial quality. Asian automakers once again dominated the closely watched reliability ratings, but

DENSO Announces First-half Financial Results

DENSO has announced its global financial results for the first half year ended Sept. 30. Consolidated net sales totaled $14.4 billion, a 12.9 percent increase from the previous year. Operating income $1.2 billion, a 15.5 percent increase from the previous year. Income before income taxes and minority interests for the period totaled $1.3 billion, a 23.6 percent increase from the previous year. Consolidated net income totaled $798.1 million, a 40 percent increase from the previous year.

India: New Hub of the Automotive Industry

India’s car market has emerged as the fastest-growing in the world. With the number of cars sold in the country projected to double by 2010, Europe’s key automotive players are busy building factories in the sub-continent, where costs are low and margins high. In the space of five years, production of passenger cars in India has jumped by more than 100 percent to 1.11 million vehicles sold last year. International analysts agree that the country is in the major league of Asian automotive markets, but until now most car companies preferred China over India as the location for a manufacturing bridgehead.

BorgWarner Reducing North American Workforce, Adjusts 2006 Guidance

In response to declining North American auto industry production, BorgWarner said today it is reducing its North American workforce by approximately 850 people, or 13 percent. The reductions, which will take place across 19 operations in the U.S., Canada and Mexico, are being driven by recent customer volume decreases and restructurings, the company said. The company expects this measure to be substantially completed by the end of October.