Indian Car Giant to Borrow Money for Takeover
From Coventry Evening Telegraph India automotive giant Tata Motors, which is poised to buy Jaguar and Land Rover, plans to borrow half a billion pounds on the money markets. The firm’s board of directors confirmed yesterday the money was needed to fund its expansion plans at home and abroad. As well as wanting to buy
ArvinMeritor Targets Growth in Off-Highway Markets
ArvinMeritor announced plans to re-establish its off-highway original equipment and aftermarket components business in North America, South America, Europe and Africa. The announcement was made yesterday in Las Vegas at the CONEXPO-CON/AGG exposition, to address OEM customers in four continents.
Delphi Announces Re-Launch of Exit Financing
Delphi Corp. has announced it will be relaunching its exit financing structure, which will include participation from General Motors, as previously announced, as well as a new commitment from an affiliate of GM to also support the company’s planned emergence from Chapter 11 reorganization. The proposed exit facilities are being arranged on a “best efforts” basis by J.P. Morgan Securities, Inc., and Citigroup Global Markets, Inc., in accordance with prior orders entered by the U.S. Bankruptcy Court for the Southern District of New York.
DENSO Announces Motorsports Sponsorships for 2008
KARIYA, Japan – DENSO has announced its motorsports sponsorship plan for the 2008 season. DENSO will continue to sponsor teams participating in the world’s top motor sports including FIA Formula One World Championship, FIA World Rally and FIM Road Racing World Championship. DENSO will also support Toyota Team SARD and Super GT. "We hope to
Dennis Jones is Installed as National Truck Equipment Association’s 44th President
Dennis Jones, vice president of sales and marketing for Auto Truck Group (Bensenville, IL), was installed as the 44th president of the National Truck Equipment Association (NTEA). Jones accepted the gavel from immediate past president Tom Rawson, CEO of RKI Inc. (Houston, TX), on Feb. 27, at the President’s Breakfast & NTEA Annual Meeting in Atlanta, GA.
MAHLE Clevite Canada Receives NAPA Canada Club 95 Award for Order Fill
ANN ARBOR, MI — MAHLE Clevite Canada ULC has been recognized by NAPA as a proficient supplier in 2007. The organization received the award for the NAPA Gaskets by Victor Reinz line. This marks the second consecutive year that MAHLE Clevite Canada received the coveted Club 95 award presented annually by NAPA. Each year, NAPA
Zurich Sets Industry Specialization Program
Zurich Financial Services Group has launched its Global Industry Specialization Program, which was developed to “better leverage its existing knowledge base and expertise in general insurance and to further expand its risk insights into specific industry sectors,” according to the company. The program brings together managers from different regions and markets to help Zurich create
DENSO Names New President and CEO of North American Headquarters
DENSO has announced that Haruya Maruyama will be named president and CEO of DENSO International America (DIAM), DENSO’s North American headquarters, effective April 1. Maruyama is a managing officer of DENSO Corp. and current president of DENSO Automotive Deutschland GmbH (DNDE), DENSO’s sales and engineering company in Eching, Germany. Currently, Kenji Ohya, DENSO senior managing director responsible for the sales group, is serving as DIAM’s president.
Hippe Gets Key Conti Promotion
Alan Hippe, Continental AG’s CFO and executive board member and head of Continental Tire North America (CTNA), appears to be on the fast track. Hippe, 41, will take over as head of Conti’s passenger/light truck tire division as of April 1, and will add responsibility for the company’s rubber parts group later this year. He
Standard Motor Products Unveils New Corporate Website
LONG ISLAND CITY, NY – Standard Motor Products, Inc. (SMP) has launched a new corporate website, www.smpcorp.com. The new website has been completely redesigned to be user-friendly and easy to navigate. The site contains company and career information, as well as industry information with links to relevant automotive and marketing group websites. It includes the