Dayco LLC has appointed Joel E Wiegert as its new chief executive officer. He is responsible for the global operational performance and strategic direction of Dayco. Wiegert has also been named as a member of Dayco’s board of managers.
Well-known automotive parts manufacturer BorgWarner has confirmed that its head of security has been arrested by Russian security services. Various news sources report that Paul Whelan was arrested on spying charges.
BorgWarner has entered into a definitive agreement to acquire Remy International, Inc. (Remy), a global producer of rotating electrical components. With key technologies and operations in ten countries on five different continents, Remy is strongly positioned to benefit from global growth. As of December 31, 2014 the company employed 6,600 people and, for the fiscal year, it generated sales of $1.2 billion.