Saturday, May 1, 2004

DaimlerChrysler to Announce Breakup with Hyundai Motor Monday

SEOUL, April 30, 2004; (Yonhap) -- The severance of the strategic alliance between Hyundai Motor Co. and DaimlerChrysler is scheduled to be formally announced on May 3, industry sources said Friday. DaimlerChrysler's board of management plans to approve and announce the German auto group's decision to end its strategic ... Continue reading

Korean Steelmaker Hyundai Hysco's Net Profit Soars 333 Percent

SEOUL, April 30, 2004; (Yonhap) Hyundai Hysco, a steelmaking unit of the Hyundai Motor Group, said Friday its first-quarter net profit surged 333.3 percent to 24 billion won (US$20.87 million) on increased sales of high value-added products and rising steel prices. ... Continue reading

VW Plans To Reduce Labor Costs Includes 40 Hour Week and "Pay Tied To Company Results"

FRANKFURT, May 1, 2004; Reuters reported that German car giant Volkswagen wants to link 30 percent of workers' pay to the performance of the business, company human resources head Peter Hartz said in a magazine interview on Saturday. Hartz was outlining in news magazine Der Spiegel the broad principles of the group's p ... Continue reading

Toyota Tsusho to Establish Car Navigation Joint Venture in China

Tokyo April 30, 2004 (JCNN) - Toyota Tsusho, in cooperation with Chinese digital map developer China NavInfo, will establish in May a joint venture to develop and sell car navigation products in China, a market where the car navigation business is expected to grow as automobile sales continue to soar. To be capitalized ... Continue reading

Autobacs Seven Opens First Store in China

Tokyo April 30, 2004; (JCNN) - After-market automotive specialty retailer Autobacs Seven announced April 27 that it opened its first store in Shanghai on the same day. The company plans to launch a second Shanghai store in 2005 and set up franchise stores across China through a newly established joint franchiser in whi ... Continue reading

Honda Starts CRV China Production

Tokyo, Japan, Apr 26, 2004 - (JCN Newswire) - Dongfeng Honda Automobile (Wuhan) Co., Ltd. (WDHAC), one of Honda's joint venture companies in China, today began local production of the CR-V sport utility vehicle in Wuhan, Hubei Province. The line-off ceremony was joined by 450 guests, including Mr. Yu Zheng Sheng, commi ... Continue reading

Modine buys South Korean Company

This release hit the wires today. We are a $1 Billion dollar business specializing in thermal technology that is acquiring a nearly 200 million dollar company in South Korea, with factories in China. The acquisition will give us instant presence in Asia and hopefully help us win even more auto business, because the new ... Continue reading

Modine's CO2 Vehicle Featured at Agricultural Machinery Conference in Iowa

RACINE, Wis.--May 1, 2004--Modine Manufacturing Company announced today it will feature its CO2 Jeep Liberty at the 19th Annual Agricultural Machinery Conference (AMC) in Cedar Rapids, Iowa, May 3-5. This vehicle features an air conditioning system that doesn't release dangerous hydrofluorocarbon (HFC) emissions, cools ... Continue reading

Analysts Say U.S. Auto Sales Likely Rose in April As Consumers Take Advantage of Cash Rebates

DETROIT April 30, 2004; John Porretto writing for the AP reported that U.S. sales of new cars and trucks likely rose 3 percent to 5 percent in April as consumers continued to take advantage of cash rebates and financing deals and some spent tax refunds, analysts predicted. Major automakers report April sales results Mo ... Continue reading

NHRA Lucas Oil Drag Racing Series-Friday from Sacramento Raceway Park

FOR IMMEDIATE RELEASE NHRA LUCAS OIL DRAG RACING SERIES - PACIFIC DIVISION SACRAMENTO RACEWAY, SACRAMENTO, CALIF. Friday, April 30, 2004 Contact: Jerrie Foss, NHRA (626) 278-1956 BECKMAN, GORDON TOP QUALIFYING AT SACRAMENTO RACEWAY SACRAMENTO, Calif. - In the first rounds of qualifying at the Western States Championshi ... Continue reading