BERN, Switzerland and FRIEDRICHSHAFEN, Germany, May 15, 2020 (GLOBE NEWSWIRE) — WABCO Holdings Inc. (“WABCO”) (NYSE: WBC) (www.wabco-auto.com) and ZF Friedrichshafen AG (“ZF”) today announced that the Chinese State Administration for Market Regulation provided regulatory clearance for their previously announced merger.All required regulatory approvals have now been received and WABCO and ZF expect to close… Continue reading WABCO and ZF Receive Regulatory Clearance in the People’s Republic of China for their Proposed Merger; Announce Expected Closing Date
Author: GlobeNews Newswire
BMW Group Selects NVIDIA to Redefine Factory Logistics
SANTA CLARA, Calif., May 14, 2020 (GLOBE NEWSWIRE) — GTC 2020 — BMW Group has selected the new NVIDIA Isaac™ robotics platform to enhance its automotive factories — utilizing logistics robots built on advanced AI computing and visualization technologies, the companies announced today.The collaboration centers on implementing an end-to-end system based on NVIDIA technologies — from… Continue reading BMW Group Selects NVIDIA to Redefine Factory Logistics
Martinrea International Inc. Reports First Quarter Results
TORONTO, May 13, 2020 (GLOBE NEWSWIRE) — Martinrea International Inc. (TSX : MRE), a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, today announced the release of its financial results for the first quarter ended March 31, 2020.HIGHLIGHTSTotal sales of $872.7 million;… Continue reading Martinrea International Inc. Reports First Quarter Results
Visteon Announces First-Quarter 2020 Results
Net sales of $643 millionNet loss of $35 million, including $33 million of restructuring chargesAdjusted EBITDA of $33 millionAwarded $800 million in new businessAvailable cash of $825 million; no near-term debt maturitiesVAN BUREN TOWNSHIP, Mich., April 30, 2020 (GLOBE NEWSWIRE) — Visteon Corporation (NASDAQ: VC) today announced first-quarter 2020 results, reporting net loss attributable to… Continue reading Visteon Announces First-Quarter 2020 Results
Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform
HERZLIYA, ISRAEL, April 30, 2020 (GLOBE NEWSWIRE) — Otonomo, the leading automotive data services platform, today announced $46 million in series C funding. The round includes investments from SK Holdings, Avis Budget Group, and Alliance Ventures as well as participation from existing investors such as Bessemer Venture Partners. This round brings the company’s total funding… Continue reading Otonomo Raises $46M in Series C Funding to Expand Its Automotive Data Services Platform
Nidec Announces Financial Results for Fiscal Year Ended March 31, 2020
KYOTO, Japan, April 30, 2020 (GLOBE NEWSWIRE) — Nidec Corporation (TSE: 6594) (OTC US: NJDCY) today announced its consolidated financial results under the International Financial Reporting Standards (“IFRS”) for the fiscal year ended March 31, 2020.The highlights are as follows:Net sales up 4% Y/Y to a record 1,535 billion yen.Operating profit down 15% Y/Y to… Continue reading Nidec Announces Financial Results for Fiscal Year Ended March 31, 2020
Ferrari starts the “Installation Lap” phase, courses on new safety regulations.
Training and serological tests before production resumes and gradually ramps up from 4 May.Maranello, 30 April 2020 – Ferrari N.V. (“Ferrari” or the “Company”) (NYSE/MTA: RACE) has launched the “Installation Lap” phase, safety training primarily for employees involved in the resumption of production from Monday 4 May.The Company has dedicated several days to this crucial… Continue reading Ferrari starts the “Installation Lap” phase, courses on new safety regulations.
Michelin: In the first quarter of 2020, at a time of systemic crisis due to COVID-19, Michelin saw an 8.3% decline in sales and deployed the measures needed to attenuate the impact of the crisis on employee health and the Group’s business.
Press ReleaseClermont-Ferrand, France – Wednesday, April 29, 2020COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELINFinancial information for the three months ended March 31, 2020In the first quarter of 2020, at a time of systemic crisis due to COVID 19, Michelin saw an 8.3% decline in sales and deployed the measures needed to attenuate the impact of the crisis… Continue reading Michelin: In the first quarter of 2020, at a time of systemic crisis due to COVID-19, Michelin saw an 8.3% decline in sales and deployed the measures needed to attenuate the impact of the crisis on employee health and the Group’s business.
Valmet’s co-determination negotiations for temporary layoffs are completed
Valmet Oyj’s stock exchange release on April 24, 2020 at 13:00 p.m. EETValmet announced on April 21, 2020 the start of co-determination negotiations for temporary lay-offs in Finland. The negotiations were started due to financial and production related reasons, especially because of the reducing workload in the services business done close to customers and in… Continue reading Valmet’s co-determination negotiations for temporary layoffs are completed
Kongsberg Automotive reports Q1 2020 results
Thu, Apr 23, 2020 07:30 CET Kongsberg Automotive Q1 2020 Report and Presentation follow attached. Revenues declined by MEUR 45 (-15 %) YoY to MEUR 262. There were no significant FX effects. The revenue shortfall to the guidance of MEUR 278 for Q1 2020 was primarily driven by corona virus related North American and European… Continue reading Kongsberg Automotive reports Q1 2020 results