Faurecia today announced that it had completed the acquisition of 100% of the Swiss company Hug Engineering, a market leader in complete exhaust gas purification systems for high horsepower engines (above 750hp). These engines are used in applications including marine propulsion, power generation, rail, agricultural and other industries. This acquisition represents a major step forward… Continue reading FAURECIA COMPLETES PURCHASE OF HUG ENGINEERING
Tag: M and A
Plastic Omnium is strengthening its position as world leader in front-end modules
On March 1st, 2018, Compagnie Plastic Omnium signed an agreement with the German group Mahle to acquire its 33.33% shareholding in the HBPO joint venture, up to then held by Plastic Omnium, Hella and Mahle-Behr.This acquisition was made at an Enterprise value of € 350 million and will be financed by the group’s own resources.After… Continue reading Plastic Omnium is strengthening its position as world leader in front-end modules
Withdrawal from joint venture: MAHLE plans to sell HBPO shares to Plastic Omnium
HBPO is specialized in the assembly, logistics, development, and design of front-end modules, consisting of bumpers, lighting systems, and cooling components. Assembly of front-end modules is not integral to MAHLE’s core business. MAHLE focuses on the development and production of cooling modules. The cooling modules installed in the front-end module are usually commissioned by the… Continue reading Withdrawal from joint venture: MAHLE plans to sell HBPO shares to Plastic Omnium
How Geely’s Li Shufu spent months stealthily building a $9 billion stake in Daimler
SHANGHAI/BEIJING (Reuters) – When Daimler announced that Li Shufu had acquired almost 10 percent of the automaker last Friday, it caught financial markets – and German regulators – by surprise. Although the move seemed sudden, the head of the Chinese carmaker Geely had, according to multiple sources and documents reviewed by Reuters, spent months stealthily… Continue reading How Geely’s Li Shufu spent months stealthily building a $9 billion stake in Daimler
Daimler takes back 100% of Car2Go
The Daimler Group has reached an agreement with Europcar to take over the shares held by the renter in the car-sharing service, Car2Go. Last step before the possibility of finalizing the project with BMW. The time of the merger between Car2Go and DriveNow car sharing services is getting closer. On March 1, 2018, Daimler announced… Continue reading Daimler takes back 100% of Car2Go
Allstate and Uber Team Up to Protect Riders and Drivers as Ridesharing Expands
NORTHBROOK, Ill., March 1, 2018 /PRNewswire/ — The right insurance protection is key, whether you’re a ridesharing passenger catching a ride or a driver using your car to offer rides. Allstate is partnering with Uber Technologies, Inc. to protect drivers and passengers by providing commercial auto coverage in Illinois, New Jersey and Wisconsin beginning March 1.… Continue reading Allstate and Uber Team Up to Protect Riders and Drivers as Ridesharing Expands
Car registrations up 13% in February
The month of February has closed with an enrollment of 110,474 cars, which is an increase of 13% over the same month last year. All the sales channels have obtained double-digit growth, highlighting that of companies, which increased by 16.2%. In the accumulated number of registrations for the first two months of the year, 212,135… Continue reading Car registrations up 13% in February
Alcraft Adopts Ground-Breaking Platform Technology
Alcraft Motor Company has adopted a ground-breaking new chassis structure technology thanks to a partnership with innovative British high-performance design and engineering solutions provider KW Special Projects. Based in Brackley in the heart of the UK’s Motorsport Valley and the Silverstone technology cluster, KWSP has a high level of expertise in digital manufacturing together with… Continue reading Alcraft Adopts Ground-Breaking Platform Technology
Opel loses again
Even under the new owner PSA makes the car manufacturer Opel loss. With 179 million euros, the half-year minus was indeed lower than expected, the Opel boss still sees a signal that it could not go on like this. Thursday, 01.03.2018 08:57 clock Heard since last year Opel to the French PSA Group and has… Continue reading Opel loses again
Automobile registrations in Spain grow 13% in February and exceed 110,000 units
Updated 01/03/2018 12:12:46 CET MADRID, Mar. 1 (EUROPA PRESS) – The Spanish automobile market closed February with a volume of registrations of passenger cars and SUVs of 110,474 units, a 13% growth compared to that month of the previous year, according to data from the associations of manufacturers (Anfac), dealers (Faconauto) and sellers (Ganvam) In… Continue reading Automobile registrations in Spain grow 13% in February and exceed 110,000 units