Continental Announces Significant Expansion of its Newport News, Virginia Manufacturing Facility
Dec 15, 2008
AUBURN HILLS, Mich., Dec. 15 -- Today, Continental announced that the Company will significantly expand the products manufactured at its Newport News, Virginia facility as part of the on-going consolidation of manufacturing operations in the Company's Engine Systems business unit. The expansion will involve the relocat ... Continue reading
ITW Reports 2.4 Percent Growth in Operating Revenues for Three Months Ended November 30, 2008
Dec 15, 2008
GLENVIEW, Ill., Dec. 15 -- Illinois Tool Works Inc. today reported an operating revenue increase of 2.4 percent for the three months ended November 30, 2008. Revenue growth for the three months was driven by contributions from acquisitions. Base revenues were negative for the three month period as North American and in ... Continue reading
Commerce Ministry Set To Support Auto Exports
Dec 15, 2008
Commerce ministry set to support auto exports http://www.gasgoo.com/auto-news/1008725/Commerce-ministry-set-to-suppor t-aut o-exports.html Shanghai, December 15 (Gasgoo.com)The Ministry of Commerce will support auto exports in seven aspects, including credit and incentives, said Zhi Luxun, vice director of Department o ... Continue reading
Pep Boys Declares Quarterly Dividend
Dec 15, 2008
PHILADELPHIA--The Pep Boys â Manny, Moe & Jack , the nationâs leading automotive aftermarket retail and service chain, announced that its Board of Directors approved the payment of the next quarterly dividend of $.0675 per share payable on January 26, 2009 to shareholders of record on January 12, 2009. The an ... Continue reading
Cooper Tire is Recalling Cooper CS4 Touring (VR) Tires
Dec 14, 2008
NHTSA Campaign ID Number: 08T029 Synopsis: Cooper Tire is recalling Cooper CS4 Touring (VR) tires, size 215/55R17, produced between September 7 and October 11, 2008. These tires may have been cured for an inadequate amount of time. This condition can lead to tread separation, possibly resulting in loss of vehicle contr ... Continue reading
BorgWarner Reduces 2008 Earnings Guidance To Reflect Global Auto Industry Free-Fall
Dec 13, 2008
AUBURN HILLS, Mich., Dec. 11 -- BorgWarner today reduced its earnings guidance for 2008 to a range of $1.85 to $1.95 per share before special items. Guidance was reduced to reflect rapidly deteriorating conditions in the auto industry that continue in every geographic region of the world. Previous guidance was $2.25 to ... Continue reading
Machinists Union Blames McConnell, Shelby and Corker for Killing Auto Rescue Plan
Dec 12, 2008
WASHINGTON, Dec. 12 /PRNewswire-USNewswire/ -- The International Association of Machinists and Aerospace Workers (IAM) today rejected attempts by a trio of Senate Republicans to deny responsibility for their campaign to force General Motors, Chrysler and Ford into bankruptcy and possible liquidation. "In a move worthy ... Continue reading
Suppliers Express Dismay as Senate Fails to Act on Auto Loan
Dec 12, 2008
WASHINGTON, Dec. 12 /PRNewswire-USNewswire/ -- The Motor & Equipment Manufacturers Association (MEMA) expressed its dismay and disappointment as the Senate did not secure the votes necessary to pass financial assistance to the automotive industry. MEMA had urged the Senate to support the legislation in hopes of prevent ... Continue reading
Sauer-Danfoss Inc. Announces Sale of AC Motor Business and Revises 2008 Earnings Guidance
Dec 12, 2008
- AC Motor Business to be Sold to Schabmuller GmbH - Earnings also Impacted by Further Deterioration of Markets CHICAGO, Dec. 12 -- Sauer-Danfoss Inc. today announced that it has entered into an agreement to sell its AC motor business, primarily operating out of Odense, Denmark, to Schabmuller GmbH in Berching, Germany ... Continue reading
Edge Products Wins Fuel Economy Challenge
Dec 11, 2008
Ogden, UT December 10, 2008: Edge Productsâ Evolution programmer received special recognition at the 2008 SEMA show in Las Vegas as a winner of the SEMA/Auto Club of Southern California Fuel Economy Challenge, proving you donât have to give up performance to get good fuel economy. Over 15 SEMA member companie ... Continue reading
Cummins Revises 2008 Outlook to Reflect Worsening Economic Conditions
Dec 11, 2008
COLUMBUS, Ind.--Cummins Inc. today revised its outlook for 2008 due to the continuing decline in many of its key markets around the world. The Company now expects 2008 sales to increase by 9 percent over 2007, compared to its previous guidance of a 12 percent increase. Earnings Before Interest and Taxes (EBIT) is forec ... Continue reading
American Axle & Manufacturing Announces Asset Purchase Agreement with FormTech Industries
Dec 5, 2008
DETROIT, Dec. 5 -- American Axle & Manufacturing (AAM), which is traded as AXL on the NYSE, today announced that it has executed an asset purchase agreement with FormTech Industries LLC ("FormTech"). As part of this agreement, AAM exchanged its hub and spindle forging business for FormTech's differential gear, hypoid p ... Continue reading
Dec 5, 2008
COLUMBUS, Ind.--Cummins Inc. announced today that it will reduce its professional workforce worldwide by at least 500 employees â or approximately 3.5 percent â by the end of 2008 as a result of the continued deterioration in the U.S. economy and many other key markets around the world. The employee reduction ... Continue reading
Commercial Vehicle Group Announces Organizational Changes
Dec 4, 2008
NEW ALBANY, Ohio, Dec. 4 -- Commercial Vehicle Group, Inc. today announced the realignment of its management team to support its strategic initiatives. The Company cited changes in its operating environment, the global commercial vehicle industry and general economic conditions as the primary reasons for the changes. " ... Continue reading
Ituran Location and Control Ltd Gives Notice of Annual General Meeting of Shareholders
Dec 4, 2008
AZOUR, Israel, December 4 -- Ituran Location and Control Ltd. , announced today that the annual general meeting of shareholders of Ituran Location and Control Ltd. (the "Company") will be held at the Company's headquarters located at 3 Hashikma Street, Azour, Israel, on January 22, 2009, at 3 p.m. local time for the fo ... Continue reading
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