TORONTO, March 20, 2020 (GLOBE NEWSWIRE) — Martinrea International Inc., 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 that as a result of actions taken on behalf of the Company’s automotive OEM customers in both North America and Europe… Continue reading MARTINREA PROVIDES UPDATE ON BUSINESS IMPACT AND RESPONSE TO COVID-19
Category: Newswire
Construction of BMW’s Debrecen plant to continue
BMW has announced that the construction of its EUR 1 billion factory in Debrecen (225 km east of Budapest) will not stop and recruitment will continue, writes Népszava.It is noteworthy that in recent days Hungarian car manufacturers have announced factory shutdowns, including Audi in Győr (120 km west of Budapest), Suzuki in Esztergom (50 km northwest) and Mercedes at Kecskemét (90 km southeast).At the same time, it is worth recalling that it was during the 2008-2009 global economic crisis that Mercedes’ investment in Kecskemét was announced, and questions were still raised as to whether the new plant would be built.
Cummins Provides Business Update and Withdraws Full Year Guidance
COLUMBUS, Ind.–(BUSINESS WIRE)–Cummins Inc. (NYSE: CMI) provided a business update in light of recent changes in customer demand and a weaker outlook for the global economy. Today, the Company suspended production at its Midrange Engine Plant in Walesboro, IN, for two weeks in response to the decision by its customer Fiat Chrysler Automobiles to shutdown… Continue reading Cummins Provides Business Update and Withdraws Full Year Guidance
Volvo Cars Shutters Europe, U.S. Plants as Virus Hits Supplies
Volvo Cars has started a shutdown of its factories in Europe and the U.S., mirroring similar moves by global carmakers as the coronavirus pandemic wreaks havoc on supply chains and staffing levels.
GROUPE RENAULT: Communiqué of availability of the Universal Registration Document and information regarding the impact of coronavirus
COMMUNIQUÉBoulogne-Billancourt, March 20, 2020Renault announces that the 2019 Universal Registration Document is filed with the French Financial Markets Authority.The 2019 Universal Registration Document includes the following information:In the context of the coronavirus (Covid-19) pandemic and in compliance with the measures taken by the various governments to date, Groupe Renault has stopped the activity of some… Continue reading GROUPE RENAULT: Communiqué of availability of the Universal Registration Document and information regarding the impact of coronavirus
Tesla shuts down California and New York factories, keeps Nevada open during coronavirus crisis
Tesla will suspend most operations at its Fremont, Calif., and Buffalo, N.Y, factories at the end of the workday on Monday to bring itself in line with local measures to prevent the spread of the coronavirus, the company has confirmed in a press release.The automaker will continue vehicle deliveries and service as possible, and both its charging network and battery factory in Sparks, Nev., will remain open, as the local sheriff has deemed the facility an “essential” business.Ford, General Motors, Chrysler, Honda and Nissan have temporarily suspended operations at all of their U.S. factories.
Nissan’s UK factory closed until further notice over coronavirus
LONDON, March 20 (Reuters) – Nissan said on Friday its British car factory would remain closed until further notice over the coronavirus outbreak, having previously said it would be shut until the end of the week.
The Coronavirus Pandemic is Likely to Weaken Kamux’s Financial Development in 2020
HELSINKI, March 20, 2020 /PRNewswire/ — The world-wide pandemic and related regulations and restrictions will cause considerable changes in the operating environment of Kamux Corporation (“Company”). According to the Company’s estimate, the changes will decrease the volume of its business and profitability in 2020, and it is not likely that the Company will be able… Continue reading The Coronavirus Pandemic is Likely to Weaken Kamux’s Financial Development in 2020
AB Volvo’s Board of Directors Withdraws Proposal of Extra Dividend, Maintains Ordinary Dividend
GÖTEBORG, Sweden, March 19, 2020 /PRNewswire/ — In light of the general uncertainty and the measures taken to slow down the spread of Covid19 and their effects on the Volvo Group, the Board of Directors of AB Volvo has decided to maintain the proposal to the Annual General Meeting on April 8, 2020 of an… Continue reading AB Volvo’s Board of Directors Withdraws Proposal of Extra Dividend, Maintains Ordinary Dividend
Grammer decides to halt production at its European locations
Disclosure of inside information in accordance with Art. 17 MAR Grammer AG (WKN 589540, ISIN DE0005895403) • Grammer decides to halt production at its European locations Amberg, March 19, 2020 – As a result of the corona pandemic spreading in Europe, major car manufacturers have announced a temporary halt of their production. For this reason, the… Continue reading Grammer decides to halt production at its European locations