In its meeting today, the Supervisory Board of Continental AG appointed Nikolai Setzer (49) as new Executive Board chairman until March 2024, effective December 1, 2020. He succeeds Dr. Elmar Degenhart (61), who, as already announced, is stepping down from his position for health reasons, with the consent of the Supervisory Board, effective November 30, 2020. … Continue reading Supervisory Board of Continental AG Appoints Nikolai Setzer as New Executive Board Chairman
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Nikolai Setzer To Become Continental CEO
Supervisory Board appoints Nikolai Setzer (49) as new Executive Board chairman effective December 1, 2020 Setzer succeeds Dr. Elmar Degenhart, who, as already announced, is stepping down from his position prematurely for health reasons Prof. Wolfgang Reitzle, chairman of the Supervisory Board: “Nikolai Setzer has our utmost trust and confidence. The Supervisory Board is certain… Continue reading Nikolai Setzer To Become Continental CEO
Meritor Reports Fourth-Quarter and Fiscal Year 2020 Results
All Meritor offices will be closed July 4, 2018 in observation of the holiday.
Cummins and Navistar to Collaborate on Heavy-Duty Class 8 Truck Powered by Hydrogen Fuel Cells
INDIANAPOLIS–(BUSINESS WIRE)–Global power leader Cummins Inc. (NYSE: CMI) and Navistar International Corporation (NYSE: NAV) will work together on the development of a class 8 truck powered by hydrogen fuel cells. The project will be funded in part through an award from the U.S. Department of Energy’s (DOE) Office of Energy Efficiency and Renewable Energy (EERE)… Continue reading Cummins and Navistar to Collaborate on Heavy-Duty Class 8 Truck Powered by Hydrogen Fuel Cells
Continental AG announces new outlook for fiscal 2020
Having withdrawn the previous outlook for fiscal 2020 that was valid until April 1, 2020 due to the uncertain consequences of the COVID-19 pandemic, the Executive Board from Continental AG now sees itself in a position to provide an outlook for fiscal 2020. This outlook is conditional upon the following assumptions: The exchange rates in the fourth quarter of 2020 do not materially differ to those as of September 30,… Continue reading Continental AG announces new outlook for fiscal 2020
Third Quarter: Slight Recovery as Highly Volatile Market Environment Continues
Consolidated sales of €10.3 billion (Q3 2019: €11.1 billion) Adjusted EBIT of €832 million (Q3 2019: €612 million); adjusted EBIT margin of 8.1 percent (Q3 2019: 5.6 percent) EBIT of -€673 million in third quarter (Q3 2019: -€1,971 million) and net income of -€719 million, resulting from impairments and expenses as already announced (Q3 2019: -€1,986 million) Free cash flow before acquisitions and… Continue reading Third Quarter: Slight Recovery as Highly Volatile Market Environment Continues
INTERVIEW: Romeo Power Sees an Opening in Commercial EV Market
Romeo Power CEO Lionel Selwood and RMG CEO Robert Mancini By Jarrett Banks Romeo Power believes there is much more room in the EV market beyond flashy sedans and SUVs. The company designs and makes lithium-ion battery modules and packs for commercial electric trucks and buses. Strategic backers include auto parts supplier BorgWarner Inc. (ticker:… Continue reading INTERVIEW: Romeo Power Sees an Opening in Commercial EV Market
Allison Transmission Prices Offering of $1 Billion Aggregate Principal Amount of 3.750% Senior Notes Due 2031
INDIANAPOLIS–(BUSINESS WIRE)–Allison Transmission Holdings, Inc. (NYSE: ALSN) (“Allison” or the “Company”) today announced that its wholly owned subsidiary, Allison Transmission, Inc. (the “Issuer”), priced its offering of $1 billion in aggregate principal amount of 3.750% Senior Notes due 2031 (the “Notes”) on November 9, 2020 in a private placement (the “Offering”) exempt from registration under… Continue reading Allison Transmission Prices Offering of $1 Billion Aggregate Principal Amount of 3.750% Senior Notes Due 2031
Schaeffler reports strong 3rd quarter 2020
2020-11-10 | Herzogenaurach Third-quarter revenue slightly below prior year quarter (down 2.6 percent) Third-quarter EBIT margin before special items of 9.4 percent significantly improved from first six months (1.2 percent) and ahead of prior year quarter (9.1 percent) Recovery in 3rd quarter primarily driven by the two Automotive divisions; Industrial division revenue trend improved slightly… Continue reading Schaeffler reports strong 3rd quarter 2020
GROUPE RENAULT LATEST AUTOMAKER TO RECOGNIZE LG’S VEHICLE INNOVATIONS
November 10, 2020 GROUPE RENAULT LATEST AUTOMAKER TO RECOGNIZE LG’S VEHICLE INNOVATIONS Open share list Share this content. For 15 years Groupe Renault has been recognizing suppliers that have made an exceptional contribution during the year in the five categories of Design, Quality & Customer Satisfaction, Sustainable Purchasing, Best Innovation, and Best Service to Manufacturing.… Continue reading GROUPE RENAULT LATEST AUTOMAKER TO RECOGNIZE LG’S VEHICLE INNOVATIONS