Mercedes Benz Türk said in a statement Thursday that it will start production starting next week at its two plants in Turkey after taking a short break in production within the scope of the measures taken to curb the spread of the coronavirus in the country. The company’s Hoşdere Bus Factory in Istanbul will be… Continue reading Turkey’s Mercedes Benz factories operational next week, others hint at resuming soon – Daily Sabah
Tag: Tier 1 Suppliers
Burgess Norton Selected by Tenneco to Supply Powertrain Components
GENEVA, Ill., April 16, 2020 /PRNewswire/ — Burgess Norton (BN) announced today that the company has reached agreement with Tenneco Inc. to provide its full range of piston pin technology and bearing surface finish solutions for the Tenneco Powertrain Business Group. Tenneco is a world leader in gasoline and diesel engine piston technologies. “This agreement is… Continue reading Burgess Norton Selected by Tenneco to Supply Powertrain Components
Goodyear suspends dividend, to cut payroll costs affecting 9,000 employees; stock drops
Shares of Goodyear Tire & Rubber & Co. dropped 4.7% in premarket trading Thursday, after the tire maker warned of a sales miss, suspended its dividend and announced payroll cost cuts that will affect more than 9,000 employees. The company said it expects first-quarter sales to fall to $3.0 billion from $3.6 billion, compared with… Continue reading Goodyear suspends dividend, to cut payroll costs affecting 9,000 employees; stock drops
Goodyear Provides Preliminary First Quarter Results, Business UpdateApr 16, 2020AKRON, Ohio, April 16, 2020 – The Goodyear Tire & Rubber Company today…
— Company completes refinancing of $2.0 billion U.S. revolving credit facility, extending maturity to 2025 — Announces global cost mitigation actions in response to rapidly changing business environment — Sees first quarter results significantly affected by COVID-19; volume down 18% versus last year — Temporarily suspends quarterly dividend, reduces 2020 capital expenditures to further enhance… Continue reading Goodyear Provides Preliminary First Quarter Results, Business UpdateApr 16, 2020AKRON, Ohio, April 16, 2020 – The Goodyear Tire & Rubber Company today…
Auto supplier Magna preparing for N. America return to work May 4 -exec
DETROIT (Reuters) – Canadian auto supplier Magna International Inc (MG.TO) is planning for a return to production in North America on May 4, with a subsequent gradual increase in output as the industry recovers from the shutdown caused by the coronavirus pandemic, a top executive said on Wednesday. Most U.S. states have stay-at-home orders in… Continue reading Auto supplier Magna preparing for N. America return to work May 4 -exec
Auto parts maker Marelli, unions agree measures to enable return to work
MILAN (Reuters) – Auto parts maker Marelli and unions agreed on Wednesday on a package of health and security measures to allow the company to gradually resume its Italian operations when Rome eases lockdown restrictions, they said in separate statements. The Italian government last week extended until May 3 nationwide limits on movements and manufacturing… Continue reading Auto parts maker Marelli, unions agree measures to enable return to work
ZF Partners with Detroit Sewn to Manufacture 100,000 Face Masks for Community
Developed for frontline healthcare workers and individuals in the community with high risk for infection, such as soup kitchens, nursing homes and other essential organizations, these masks will contribute to the fight against the contagion as ZF shifts production of some of its normal automotive safety products to this now critically needed item. “The world… Continue reading ZF Partners with Detroit Sewn to Manufacture 100,000 Face Masks for Community
Magna Announces Filing of Preliminary Shelf Prospectus and Registration Statement; Amends 364-Day Syndicated Credit Facility
AURORA, Ontario, April 14, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it filed a preliminary short form base shelf prospectus (“shelf prospectus”) with the Ontario Securities Commission (the “OSC”) and a corresponding shelf registration statement with the United States Securities and Exchange Commission (the “SEC”) on Form F-10.… Continue reading Magna Announces Filing of Preliminary Shelf Prospectus and Registration Statement; Amends 364-Day Syndicated Credit Facility
Schaeffler AG platziert EUR 350 Mio. grünes Schuldscheindarlehen
2020-04-09 | Herzogenaurach Debüt-Schuldschein im Gesamtvolumen von rund 350 Millionen Euro in schwierigem Marktumfeld platziert Schuldschein umfasst grüne Tranchen zur Refinanzierung eines Portfolios von nachhaltigen Projekten Der weltweit tätige Automobil- und Industriezulieferer Schaeffler hat erstmals ein Schuldscheindarlehen platziert und damit im aktuell schwierigen Marktumfeld insgesamt ein Volumen von rund 350 Millionen Euro aufnehmen können. Aus… Continue reading Schaeffler AG platziert EUR 350 Mio. grünes Schuldscheindarlehen
@Groupe PSA: Faurecia strengthens its liquidity by 800 million euros to face any potential scenario related to the covid-19 crisis
Maturity: 18 months (12 months + 6 months option at Faurecia’s initiative) Senior unsecured loan, unguaranteed, pari passu with the rest of the Group’s long-term debt Drawn on Friday, April 17, 2020 This €800 million liquidity is in addition to the €600 million not drawn from the €1.2 billion syndicated credit line (maturity: June 2024)… Continue reading @Groupe PSA: Faurecia strengthens its liquidity by 800 million euros to face any potential scenario related to the covid-19 crisis