[Imc-chicago] Weekly Insight

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This Week's Headlines – March 30th 2009
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Wagoner forced out at General Motors at the request of the White House
Chrysler given 30 days to merge with Fiat; GM given 60 days of funds to restructure (available to all)

Citigroup to manage US$5bn government aid to auto suppliers
Government fees required for sanctioning (login to read)

Continental develops a new intelligent headlamp control system
Monitors road situation and reduces risk (login to read)

Cooper-Standard Automotive lays-off 600 salaried employees
Reorganises business divisions and reassigns executives (login to read)

Continental Tire North America inaugurates new headquarters in South Carolina
Booming future prospects in South Carolina (login to read)

TRW to cut additional jobs in Arizona plant
Workers on short work week (login to read)

Foamex to sell its foam business to a debt investment firm
Deal subject to bankruptcy court approval (login to read)

China Automotive Systems reports over 22% sales growth in 2008 
Expects sales to grow between 10%-15% in 2009 (login to read)

Moody's cuts Visteon ratings
Downgrade reflects company’s weakening credit profile (login to read)

Decline in orders pushes down Grammer AG’s revenue outlook for first half of 2009
Undertakes structural and social measures (login to read)

Continental inaugurates new technical centre in India
Investment of INR4bn (US$58m) in Indian operations (login to read)

Faurecia workers call-off 19 days long strike
Agrees to accept compensation of €3,000 per person (login to read)

CEVA Logistics to handle Middle East operations of WABCO
Responsibility includes managing outbound exports from Dubai (login to read)

Michigan House deems $250m state tax credit to auto suppliers
Mandatory for suppliers to abide by the agreement (login to read)

Hungarian tire manufacturers scaling back production levels
Hankook delayed facility expansion until 2011 (login to read)

BorgWarner to provide DualTronic transmission for Fiat Powertrain Technologies
Technology to initially feature on Fiat Alfa Romeo MiTo (login to read)

Pirelli-OE tires to feature on the Camaro 2010
Tires to range between 19 and 21-inches (login to read)

Wabco CEO gets additional role of Chairman
Hardymon to take over as the Lead Director (login to read)

Knorr-Bremse appoints members in supervisory and executive board
Klaus Deller to head commercial vehicle business (login to read)

Autoliv laid off 3000 jobs during January and February 2009
Capital expenditure reduced to US$250m (login to read)

DSV logistics reports over 9% sales growth in 2008
Plans to raise US$284m of capital to pay back debts (login to read)

Bankruptcy court delays Delphi’s steering business sale to GM
Decision delayed till 2 April 2009 (login to read)

Suppliers to the new Ford Flex
Car cutaway for the new Ford Flex (login to read)

Suppliers to the new Volvo XC60
Continental keeps drivers safe in the city (login to read)

Standard & Poor's revises Bridgestone’s outlook to negative
Increasing downward pressure on Bridgestone’s financial profile (login to read)

Plimsoll suggests acquisition opportunities in the UK tires, exhausts and batteries market
Ailing 103 companies found to be best deals (login to read)

Goodyear receives financial aid for upgrading Topeka plant
Repayment imminent in case of failure to retain jobs for a decade (login to read)

Asia Compact plans customer expansion in Australia and Europe
Striving to obtain international product quality certifications (login to read)

Yokohama Rubber lowers full-year financial projections
Company expects net sales of ¥520bn, down 5.7% from previous year (login to read)

GM to hire 228 Delphi workers
Delphi Plant scheduled for closure in June 2009 (login to read)

Thierry Morin to leave Valeo
Conflict with the board leads to resignation (login to read)

Schaeffler presents restructuring plan to creditor banks
Company seeks support from German government (login to read)

ArvinMeritor notified non-compliant with listing standard by NYSE
Plan in process demonstrating company’s ability to achieve compliance (login to read)

FedEx reports 14% sales growth for Q3 2009
Plans to cut US$1bn in costs by 2010 (login to read)

CEVA reports full fiscal year 2008 results
CEVA registered growth of 32.3% in net sales in 2008 (login to read)

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