ArvinMeritor Moves Ride Control Operations to Mexico
ArvinMeritor, Inc announced today that it plans to move the shock and strut portion of its manufacturing operations from the Chickasha, Oklahoma, US facility to its plant in Queretaro, Mexico.
ArvinMeritor, Inc announced today that it plans to move the shock and strut portion of its manufacturing operations from the Chickasha, Oklahoma, US facility to its plant in Queretaro, Mexico.
(Akron/Tire Review) Michelin North America is increasing prices on its motorcycle and scooter tyres, and tubes and accessories. Effective Sept. 1, prices on Michelin two-wheel replacement tyres sold in Canada, Mexico and the U.S. will jump an average of 5%. Michelin said all backorders will be re-priced and shipped at the new price.
(Akron/Tire Review) Tire Group International Inc. (TGI) has acquired a 600,000-square foot warehouse facility in Miami that will be converted into its new headquarters.
Superior Industries International, has announced a 3.2 per cent increase in the company’s quarterly cash dividend, to $0.16 per share at today’s AGM. The new, higher dividend is payable to shareholders on 15 July 2005.
“We always are pleased to increase the cash dividend, particularly as we are faced with the difficult challenges of an increasingly competitive environment and the rapid globalisation of the automotive industry,” said president and chief executive officer, Steven Borick. “This latest dividend increase demonstrates the Board’s conviction that we have the right long-term strategy to protect and enhance our industry leadership, and the discipline, determination, and resources required to successfully implement our plans for the future.”
Pirelli-shod cars swept the board in the Rally Mexico in mid-March, taking all three podium places.
Out in front was the Subaru of Petter Solberg, who led from start to finish for his second victory of the year. He won six out of the 14 all-gravel stages, finishing 34.5 seconds ahead of the Pirelli-equipped Peugeots of Marcus Gronholm and Markko Martin.
Goodyear Tire & Rubber Company has announced that Pierre E Cohade, formerly executive vice president of worldwide water and beverage company, Groupe Danone, will become president of Goodyear’s Asia-Pacific region.
200 jobs are to go from a total workforce of 1,150 at Continental’s factory at Mayfield, Kentucky. The losses will be implemented at the beginning of July, as production is reduced from 10,900 tyres a day to 7,300. Continental operates five factories in the USA and Mexico, employing a total of 10,500 and the company has said that it has no plans to axe a factory.
Superior Industries is to build a new wheel-manufacturing plant in Mexico, with construction starting this year and production beginning in mid-2006. Mexico was chosen because of cheaper labour costs, although the factory is expected to have a high degree of automation. Estimated cost of the plant is $60-80 million and it will have an annual production capacity of 2.5 million wheels.
Hayes Lemmerz International, Inc. purchased certain assets from Hayes Wheels Aluminio, S.A. de C.V., which operated a cast aluminum wheel plant in Chihuahua, Mexico. The Chihuahua aluminium wheel plant has been renamed “Hayes Lemmerz Aluminio, S. de R.L. de C.V.” and will be part of Hayes Lemmerz’ International Wheel Group.
Falling car sales in the USA have led VW to announce a cut in output at its plant in Mexico by 23 per cent. The move will entail laying off around 2,000 workers and contrasts with news earlier in the week that VW has approved an increase in production at its Chinese operations. Last year, China took over from Germany as VW’s largest single market.
The last assembly line in the world for the old-style Volkswagen Beetle, at Puebla, Mexico, is to close in the next few weeks. The Beetle was first produced in 1945 and 21 million have been made since. Sales have been hit by competition from imported subcompact cars; almost as cheap, but much more modern in design and technology.
Hayes Lemmerz International, Inc. has announced its intention to sell up to 225 million US dollars of senior unsecured notes due in 2010. Hayes Lemmerz intends to use the net proceeds from the offer to make payments in connection with its Plan of Reorganisation to support its emergence from Chapter 11.Hayes Lemmerz, its U.S. subsidiaries and one subsidiary organised in Mexico filed voluntary petitions for reorganisation under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware on December 5, 2001.
Pirelli P6 Four Seasons tyres are to be fitted as standard on the Ford Focus ZTS in the USA and are an option on the ZX3, SE and ZX5 models. The size in question is P205/50 R16 87H and the tyres will be manufactured in Pirelli’s Brazilian factory and shipped to Ford’s plants in Hermosillo, Mexico and Wayne, Michigan. Pirelli has enjoyed OE success in the US with summer tyres on cars imported from Europe, but this latest contract puts the company in the forefront of OE all-season business.
Auropolis analysts expect vehicle production in North America to fall by 10 per cent in 2003 even is a war is avoided or short. The drop will continue even if current price-cutting is extended. Despite action to maintain volumes US sales fell for eight months in 2002 and showed lower year-on-year figures for the second straight year in a row. In a market characterised by fears over some carmakers’ financial foundations, waning consumer confidence and a market which has been almost saturated with overly-cheap cars for three years, the prospects are poor. Past cycles in the US show, that when it comes, the market normally corrects sharply and quickly. Swings in sales of more than 20% from the highest point to the lowest over an 18 month period are typical says the firm. The only reason that the situation might be better this time is because Mexico’s market should grow in 2004 thanks to price cuts anticipated there. Assuming a normal pace of recovery, Autopolis say the North American market will take until 2009 to have returned to its peak level again.
Ford’s Excursion 4×2 and Super Duty F-250 and F-350 Models will run on Pirelli Scorpion STRs as OE fit in 2003. Powertrains are at the heart of doing what SUVs and trucks are designed to do. A wide range of engines give these vehicles incredible power and torque, including the all new 6.0-litre, turbocharged, Power Stroke V8 diesel. Pirelli’s Scorpion STR is designed to cope with the torque and towing potential. The LT265/75 R 16 radials will be available with either black sidewalls or raised outline white letters.The Pirelli Scorpion STRs destined for 2003 Ford Excursions and Super Duty pickups will be manufactured in Pirelli’s factory in Brazil. The technical specification of the STR includes the combination of steel belts and nylon wrap for which Pirelli is famous, being the core technology behind Pirelli’s high-speed performance tyres. Tyres will be shipped to Ford assembly plants in Louisville, Kentucky and Cuautitlan, Mexico and vehicles produced will be distributed in the U.S., Canada and Mexico.
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