Dana Completes Two Agreements for Growth in Emerging Markets
Company increases equity stake in China- and India-based operations.
3M to Establish Customer Technical Center in Taiwan
The 3M Customer Technical Center will serve as a base for customers to test 3M’s products and solutions that are new to the local market.
Michelin to Invest $1.5 Billion in New China Plant
The new factory will make 10 million tires for passenger cars and light trucks, 1.8 million tires for trucks and coaches and 295,000 recapped tires for trucks and coaches.
Johnson Controls to Build $118 Million Automotive Battery Plant in Chongqing, China
The plant will have capacity to produce 6 million batteries annually with the start of production slated to begin in 2012.
SEMA Presents $111,000 in Scholarships to Future Industry Leaders
For the 2010-2011 academic year, 55 scholarships were awarded and 12 loan forgiveness awards were distributed.
GKN Continues to Invest in China and Opens a New Plant in Wuhan
The facility is scheduled to produce 500,000 sideshafts in 2010 with production expected to increase to one million sideshafts by 2011 and two million sideshafts by 2012.
General Motors and Tengzhong Sign Definitive Agreement for Sale of HUMMER
Under the terms of the definitive agreement, Tengzhong will acquire the ownership of the HUMMER brand, trademark and tradenames, as well as specific IP license rights necessary for the manufacture of HUMMER vehicles. Tengzhong will also assume the existing dealer agreements relating to HUMMER’s dealership network.
Chinese Company to Buy HUMMER Brand
Tengzhong in advanced talks to purchase HUMMER from GM.
Harbin Electric to Acquire Industrial Rotary Motor Business
HARBIN, China — Harbin Tech Full Electric Co. Ltd., a wholly owned subsidiary of Harbin Electric, Inc., has entered into a definitive agreement to acquire Weihai Hengda Electric Motor Co. Ltd and Wendeng Second Electric Motor Factory for approximately $54 million in cash. "We are extremely pleased to have successfully reached a definitive agreement with
Brilliance China Automotive Holdings Limited Names New CFO
HONG KONG — Brilliance China Automotive Holdings’ board of directors has announced the cessation of Lei Xiaoyang as the chief financial officer (CFO) of the company. He has been redesignated as a non-executive director of the company, effective July 1, due to his new appointment as the CFO of BMW Brilliance Automotive Ltd., a jointly