RUEIL-MALMAISON, France–(BUSINESS WIRE)–Regulatory News: Groupe PSA (Paris:UG) and the Namibian government have signed an investment agreement facilitating the joint-venture agreement between Groupe PSA and Namibia Development Corporation (NDC) to assemble OPEL and PEUGEOT vehicles in Walvis Bay. Assembly will start in H2 2018 with an annual targeted volume of 5,000 units by 2020 to meet… Continue reading Groupe PSA Will Assemble OPEL and PEUGEOT Vehicles in Namibia in 2018
Tag: Tier 1 Suppliers
Supplier strike settled, production to resume at Fiat Chrysler's Windsor Assembly Plant
Buy Photo Workers have ended their strike at a supplier for the FCA Windsor Assembly Plant in Windsor, Ont. (Photo: Eric Seals, Detroit Free Press)Buy Photo A contract settlement has been reached with striking workers at an auto supplier in Canada that had halted production at Fiat Chrysler Automobiles’ Windsor Assembly Plant, which builds the Chrysler… Continue reading Supplier strike settled, production to resume at Fiat Chrysler's Windsor Assembly Plant
Sale carefully completed
Mobility Solutions is the largest Bosch Group business sector. According to preliminary figures, its 2017 sales came to 47.4 billion euros, or 61 percent of total group sales. This makes the Bosch Group one of the leading automotive suppliers. The Mobility Solutions business sector pursues a vision of mobility that is accident-free, emissions-free, and stress-free,… Continue reading Sale carefully completed
GKN Seals $6.1 Billion Dana Autos Deal to Fend Off Melrose
U.K. engineer GKN Plc agreed to sell its automotive unit to U.S.-based Dana Inc. in a $6.1 billion transaction aimed at repelling a hostile takeover from investment group Melrose Industries Plc. GKN shareholders would get stock in the new group valued at $3.5 billion, plus $1.6 billion of cash, and Dana would assume $1 billion… Continue reading GKN Seals $6.1 Billion Dana Autos Deal to Fend Off Melrose
GKN and Dana agree auto-engineering merger for $6.1bn
UK engineering giant GKN has agreed to merge part of its business with US company Dana, as it seeks to fend off a takeover bid from Melrose Industries. The merger will combine GKN’s Driveline division with US auto-engineer Dana in a deal worth $6.1bn (£4.4bn). It comes as Melrose has a £7.4bn offer on the… Continue reading GKN and Dana agree auto-engineering merger for $6.1bn
Britain’s GKN signs deal with Dana over auto tie-up
(Reuters) – Britain’s GKN (GKN.L) said it had agreed to merge its automotive business with Dana Incorporated (DAN.N) to create Dana Plc, adding the deal provided “significantly greater value” for its shareholders than Melrose Plc’s (MRON.L) 7 billion pound ($9.68 billion) hostile bid. The proposed deal gives GKN Driveline a total enterprise value of $6.1… Continue reading Britain’s GKN signs deal with Dana over auto tie-up
BRIEF-Dana To Combine With GKN’s Driveline Division
March 9 (Reuters) – Dana Inc: * DANA ANNOUNCES AGREEMENT TO COMBINE WITH GKN’S DRIVELINE DIVISION * DEAL INCLUDES 133 MILLION NEW DANA PLC SHARES ISSUED TO GKN SHAREHOLDERS, VALUED AT ABOUT $3.5 BILLION * DEAL INCLUDES ASSUMPTION OF ABOUT $1.0 BILLION OF NET PENSION LIABILITIES, AND 133 MILLION NEW DANA PLC SHARES * TOTAL… Continue reading BRIEF-Dana To Combine With GKN’s Driveline Division
Dana Announces Agreement to Combine with GKN’s Driveline Division
MAUMEE, Ohio, March 9, 2018 /PRNewswire/ — Dana Incorporated (NYSE: DAN) announced today that it has signed definitive agreements to combine with the Driveline division of GKN plc (LON: GKN) to create Dana plc, a global leader in driveline systems. The total consideration is composed of $1.6 billion in cash proceeds to GKN plc, the assumption… Continue reading Dana Announces Agreement to Combine with GKN’s Driveline Division
DENSO to Increase Its shareholding in Renesas Electronics Corporation
KARIYA (Japan) ― DENSO Corporation today announced that it has decided to increase its shareholding in Renesas Electronics Corporation to accelerate the development of various in-vehicle systems including automated driving systems that are becoming more advanced, complicated, and larger in scale than ever before. Renesas has cutting-edge technologies for semiconductors that serve as the key devices… Continue reading DENSO to Increase Its shareholding in Renesas Electronics Corporation
News Release – Magna Launches New Composites Center of Excellence in Germany
Please click HERE for a PDF version of the release. Brings advanced composites and carbon fiber expertise to European market Develops lightweight structural and exterior components Enables joint development projects with European automakers SAILAUF, Germany, March 07, 2018 — Magna’s new Composites Center of Excellence in Esslingen, Germany, aims to help European automakers meet increasingly… Continue reading News Release – Magna Launches New Composites Center of Excellence in Germany