[Imc-chicago] SupplierBusiness Insight

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This Week's Headlines – March 23rd 2009
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US Treasury approves US$5bn in auto supplier aid
Tier 2 and Tier 3 suppliers unlikely to benefit, consolidation of supply base to continue (available to all)
Bosch temporarily shuts down production at South Carolina facility
Production scaled back as OEM demand declines (login to read)

Workers vacate Aradco’s Ontario facility post agreement with Chrysler
Severance package worth US$400,000 offered (login to read)

AW North Carolina offers buyout option to employees
Aims to reduce headcount (login to read)

BASF opens an emission control facility in Russia
Tighter emission standards expected to boost BASF’s sales in the country (login to read)

PKC to close Kempele (Finland) plant
226 workers face lay-off possibility (login to read)

M-Tek wins Volkswagen contract
Contract worth US$147m (login to read)

Plastic Omnium on alert
Company fears GM bankruptcy (login to read)

Johnson Controls to provide door panels and lighting to New Lancia Delta
Parts to be supplied to Cassino plant (login to read)

Detroit Diesel unveils DD16 at 2009 Mid-America Trucking Show
Production to start in 2010 (login to read)

Canadian auto suppliers appeal for federal aid
APMA requests treasury for CA$1bn in repayable loans (login to read)

Bridgestone employees take voluntary redundancy
Plans to reduce working hours (login to read)

Structural and Personnel reorganisation in ThyssenKrupp
Reorganisation to save €500m per year (login to read)

ArvinMeritor introduces Meritor MXL(R) driveline
Offers 100,000 miles lubrication interval (login to read)

Geodis acquires two divisions from Giraud International
Acquired units provide synergies with Fret SNCF and Geodis BM (login to read)

Visteon may get ‘going concern’ notice
Delays annual filing with Securities and Exchange Commission (login to read)

Clarcor Q1 2009 sales down 14.6%
Net earnings for the company stood atUS$8.79m (login to read)

DB Schenker starts a new logistics centre in Vietnam
Centre to serve as integral logistics base for OEMs and distributors (login to read)

Beijing auto plans to buy Delphi’s auto parts assets
Assets including brake and suspension system businesses (login to read)

Magna to close Syracuse (US) plant
Closure favoured by 52% workers (login to read)

Quantum receives contract for natural gas systems from Volvo-Eicher Commercial Vehicles
India considered highly potential market (login to read)

Plastic Omnium to expand in India, China and Russia
Five new facilities to be set up in China and India (login to read)

Modine appoints Scott L. Bowser as Vice-President - Americas
Reorganisation strategy will be his primary focus (login to read)

Commercial Vehicle Group to shutdown Vancouver (US) facility
Expects annual savings of US$700,000 (login to read)

US government planning to announce auto supplier aid
Suppliers ask US$18.5bn aid to stay in business (login to read)

Goodyear seeks state aid for upgradation of Kansas plant
Upgrade to support OTR tire production (login to read)

CEVA logistics wins GM supply chain contract
AV Manufacturing in-charge of sub-assembly (login to read)

Amerigon Climate Control Seat to be featured in Nissan’s 2009 Infiniti G Convertible
Engine power remains unaffected (login to read)

CEVA Logistics extends contract with Mann+Hummel
Contract to help reduction in costs (login to read)

ArvinMeritor’s rating cut to 'Caa1' by Moody’s
Lowers rating due to weak demand for commercial vehicle parts (login to read)

Chrysler supplier halts production
80 employees out of work (login to read)

Lear lenders agree for a waiver to primary credit facility
Debt restructuring must now be completed by 15 May (login to read)

Hitachi to restructure entire business
Expects ¥500bn of savings by March 2010 (login to read)

Offshore Group to provide shelter services to German automotive supplier
Injected moulded parts manufactured for automotive industry applications (login to read)

Renault-Nissan to produce engines in Spain
Investments worth €42.8m (login to read)

BorgWarner provides R2S turbo technology for new Volvo D5 Diesel engines
Technology increases efficiency and improves performance (login to read)

Magna to build car parts factory in Russia
Construction to complete in 2010 (login to read)

Compass Automotive acquires aluminium die casting and machining business from Citation
Acquisition to enhance machining competency (login to read)

Noble signs agreement with Detroit three for short-term funding
Seeking funds from Comerica Bank as well (login to read)

Magna forms partnership with Brusa Elektronik to develop hybrid vehicle applications
Supply components and systems to the emerging global automotive market (login to read)

Alcoa to implement a series of operational and financial actions
Working capital to improve by US$800m in 2009 (login to read)

Ricardo appoints two key executives for the UK and US
Appointments for Clean Energy group (login to read)

Magna announces new proposal for survival
Workers and wages under the axe once again (login to read)

Johnson Controls predicts stronger demand for AGM batteries in the UK aftermarket
Stop-start technology to reduce CO2 emissions (login to read)

Dana reports net loss of US$256m in Q4 2008
Plans job cuts to offset lower sales (login to read)

Report: Motherson Sumi plans to turn around Visiocorp in a year
Significant boost to Motherson’s R&D capabilities (login to read)

American Axle’s auditors raise concern about future
Maintains target of becoming profitable in 2009 (login to read)

GM offers direct payments to tier two suppliers
Concerned about the potential disruption in supply of parts (login to read)

Tenneco promotes Hari Nair to Director
Sets board of directors size at ten (login to read)

Bekaert nominates new Director to the Board
Manfred Wennemer to replace Julien De Wilde (login to read)

Mitsubishi Electric to supply New Chevy Camaro
Component manufacturing in the US (login to read)
Suppliers to the new Renault Megane
Suppliers help Renault build a greener Megane (login to read)

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