STOCKHOLM, May 11, 2020 /PRNewswire/ — The board of Haldex Aktiebolag (publ) (“Haldex” or the “Company”) has, pursuant to the authorization given at the annual general meeting 2019, resolved to issue a total of 4,421,597 new shares to AMF Pensionsförsäkring and AFA Försäkring. The new shares have been issued at a subscription price of SEK… Continue reading Haldex has Completed a Directed New Share Issue of Approx. 4.4 Million Shares to AMF Pensionsförsäkring and AFA Försäkring Raising Proceeds of Approx. SEK 157.2 Million
Category: Newswire
Haldex Reaches Agreement With Lenders and Intends to Carry Out a Directed New Share Issue to AMF Pensionsförsäkring and AFA Försäkring
STOCKHOLM, May 11, 2020 /PRNewswire/ — Haldex Aktiebolag (publ) (“Haldex” or the “Company”) has reached an agreement with the Company’s lenders including to extend the maturity of the existing syndicated credit facility of EUR 90 million and the existing short-term loan of SEK 270 million to April 2022 and to make certain adjustments to the… Continue reading Haldex Reaches Agreement With Lenders and Intends to Carry Out a Directed New Share Issue to AMF Pensionsförsäkring and AFA Försäkring
Honda Plans to Start Reopening U.S. and Canada Plants on May 11
Honda Motor Co. will resume operations at its vehicle and auto-parts factories in the U.S. and Canada starting on May 11, joining a caravan of other carmakers restarting North American production this month for the first time since mid-March.
Lear Reports First Quarter 2020 Results
SOUTHFIELD, Mich., May 8, 2020 /PRNewswire/ — Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today reported results for the first quarter 2020. First Quarter 2020 Highlights Sales of $4.5 billion, compared to $5.2 billion in the first quarter of 2019 Net income of $76 million and adjusted net income of… Continue reading Lear Reports First Quarter 2020 Results
BMW to invest $620m in Northeast China
The investment will be used to complete the main building of the new factory of BMW Brilliance Automotive (BBA), a joint venture between BMW Group and Brilliance China Automotive Holdings Ltd.BBA rolled its 3 millionth car, a plug-in hybrid, off the production line in Shenyang on Feb 27, after it resumed production in the city’s Tiexi and Dadong plants on Feb 17.Since the launch of BBA in 2003, BMW has invested over 52 billion yuan in Shenyang and completed the building of two vehicle factories, one powertrain plant and one research and development hub.
Velodyne Lidar Announces Multi-Year Sales Agreement With GeoSLAM
SAN JOSE, Calif.–(BUSINESS WIRE)– #geoslam–Velodyne Lidar, Inc. announced a multi-year sales agreement with GeoSLAM, a global market leader in 3D geospatial technology solutions. Go to Source
Breakout time behind plexiglass: Renault factory restarts in France
FLINS-SUR-SEINE, France, May 6 (Reuters) – With temperature scanners on the door and tables partitioned by plexiglass shields in the breakout area, workers at one of Renault's French plants are adjusting to new routines as carmakers try to cope with the coronavirus crisis.
Like peers across Europe, Renault is gradually ramping up production after stoppages linked to the outbreak, as governments begin to ease some lockdown rules.
Inside the Flins factory northwest of Paris, where Renault makes its electric Zoe models and the Micra car for its partner Nissan, sanitary protocols now restrict even the way coffee breaks are held – in a glimpse of measures to expect in other industries as shutdowns are further lifted.
Most retailers are due to reopen in France from May 11, while factories turning out trains and luxury goods are starting up again too.
At Flins on Wednesday, workers wound their way through tents at the entrance, where thermal scanners took their temperature.
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Supercar Maker McLaren SeekS $374 Million in New Funding
McLaren Group Ltd., the supercar maker and racing team owner, is seeking about 300 million pounds ($374 million) in fresh funding just months after completing a similarly-sized capital raise, people familiar with the matter said.
Bratislava Volkswagen plant launches three-shift operation in late May
Slovakia’s largest carmaker, the Bratislava Volkswagen plant, is currently operating under one shift.Volkswagen halted production in its Bratislava plant on March 16.However, with an increase in the number of daily shifts, the company will stop all production on some days.
Oerlikon cuts 800 jobs, withdraws 2020 outlook amid market uncertainty
May 5 (Reuters) – Swiss industrial group OC Oerlikon on Tuesday withdrew its full-year outlook and slashed 800 jobs, citing a high degree of market uncertainty triggered by the coronavirus crisis.
The group had previously expected full-year 2020 order intake and sales of between 2.5 billion and 2.6 billion Swiss francs ($2.6 billion to $2.7 billion) and earnings before interest, taxes, amortisation and depreciation (EBITDA) margin before exceptional items to improve to 15% to 15.5%.
In the first quarter, Oerlikon reported a 38% drop in EBITDA at 58 million francs, which came above estimates of a company-compiled consensus of 51 million francs.
“China has shown signs of overcoming the virus, in particular in our man-made fibers business, while we faced increasing challenges from the global impact in our surface solutions segment toward the end of the first quarter in Europe and in the U.S.,” Chief Executive Roland Fischer said.
The Swiss company's largest segment, surface solutions..