Category: Suppliers

Adient Global Holdings Ltd — Moody’s places Adient’s ratings under review for downgrade, senior secured rating downgraded to Ba3.

Rating Action: Moody’s places Adient’s ratings under review for downgrade, senior secured rating downgraded to Ba3. New York, March 25, 2020 — Moody’s Investors Service placed the ratings of Adient Global Holdings Ltd. (Adient) including Corporate Family Rating (CFR) at B2, the Probability of Default Rating at B2-PD, and the senior unsecured ratings at B3… Continue reading Adient Global Holdings Ltd — Moody’s places Adient’s ratings under review for downgrade, senior secured rating downgraded to Ba3.

AAM Provides Update on the Impact of COVID-19

AAM Terms of Use & Privacy Policy Terms of Use ATTENTION: PLEASE READ THESE TERMS CAREFULLY BEFORE USING THIS WEBSITE. USING THIS WEBSITE INDICATES THAT YOU ACCEPT THESE TERMS. IF YOU DO NOT ACCEPT THESE TERMS (“TERMS”), DO NOT USE THIS SITE. Use of AAM Website American Axle & Manufacturing, Inc. and/or its respective affiliates… Continue reading AAM Provides Update on the Impact of COVID-19

Schaeffler Suspends Guidance for 2020

2020-03-24 | Herzogenaurach Guidance for the year 2020 has been suspended A package of measures is being implemented to manage the crisis New guidance will be issued at a later date Due to the worldwide spread of the corona crisis and the resulting measures and restrictions, the Management Board of Schaeffler AG today suspended the… Continue reading Schaeffler Suspends Guidance for 2020

BorgWarner to suspend manufacturing operations, can’t estimate COVID-19-related impact

BorgWarner Inc. said Tuesday it plans to temporarily suspend manufacturing operations, particularly in North American and Europe, citing market conditions as a result of the COVID-19 pandemic. The company said it was not able to estimate the COVID-19-related impact on 2020 results given uncertainties, but said significant reductions in automotive or truck production, which made… Continue reading BorgWarner to suspend manufacturing operations, can’t estimate COVID-19-related impact

BorgWarner Provides Business Update Related to COVID-19

AUBURN HILLS, Mich., March 24, 2020 /PRNewswire/ — BorgWarner Inc. (NYSE: BWA) (the “Company”) acknowledged that many original equipment manufacturer (“OEM”) customers have announced that they have suspended or will suspend manufacturing operations, particularly in North America and Europe, on a temporary basis due to market conditions and matters associated with COVID-19/coronavirus. Significant reductions in automotive or truck production… Continue reading BorgWarner Provides Business Update Related to COVID-19

Updated March 23: DENSO’s Response to COVID-19

Southfield, Mich. (March 23, 2020) – During these difficult times, DENSO remains committed to protecting the health and safety of its employees while ensuring business continuity. That is why the company has: Aggressively increased sanitation of its facilities, Limited the number of on-site employees, as much as possible, Advised employees who can work from home… Continue reading Updated March 23: DENSO’s Response to COVID-19

03/17/2020MAHLE reaction to Coronavirus

MAHLE reaction to Coronavirus

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Update March 17, 2020As soon as the situation became known, MAHLE promptly notified its workforce worldwide and explained the risks involved as well as the rules of conduct and safety measures. We are observing ongoing developments very closely as well as the recommendations of WHO as well as official recommendations in the respective countries, and are updating our employees regularly on any new developments through our internal communication channels. Our current regulations are based on the recommendations of the Robert Koch Institute. For instance, MAHLE currently has a general travel ban in place which requires that urgent exceptions are specifically approved. We also generally encourage our employees to work from home wherever possible. Meetings are primarily held without the need for physical presence; for meetings requiring physical attendance clearly defined rules apply that must be observed. Furthermore, any employees who have been in any of the regions officially designated as risk areas are always required to wait for a period of 14 days before returning to work at a MAHLE location.