Valeo’s capital begins to consolidate. After bpifrance about a year ago , it is now the turn of the Strategic Equity Fund (FSP) to go up to the round of the tricolor equipment supplier. Created in 2013, bringing together several French insurers whose aim is to support French companies via long-term investments, this investment fund… Continue reading Valeo strengthens its round in Covid-19 storm
Tag: Tier 1 Suppliers
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
WABCO and ZF Announce Expected Closing of the Merger in the Second Quarter of 2020
BERN, Switzerland and FRIEDRICHSHAFEN, Germany, March 24, 2020 (GLOBE NEWSWIRE) — WABCO Holdings Inc. (“WABCO”) (NYSE: WBC) (www.wabco-auto.com) and ZF Friedrichshafen AG (“ZF”) today announced that they have received all approvals from regulatory authorities required to close their previously announced merger, with the exception of the Chinese State Administration for Market Regulation (“SAMR”). WABCO and… Continue reading WABCO and ZF Announce Expected Closing of the Merger in the Second Quarter of 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
MAHLE Powertrain opens new facility for electrified powertrain battery
MAHLE Powertrain has opened a new, dedicated facility for the extensive testing of battery modules seeking to develop latest generation automotive electrification technologies given the cost pressures on vehicle manufacturers. The facility, based at the powertrain specialist’s Northampton technical centre, enables the strip-down and disassembly of modules and compact vehicle batteries for post-test assessment, and… Continue reading MAHLE Powertrain opens new facility for electrified powertrain battery
LiDAR Start-Up Blickfeld closes Series A with participation of Continental and Wachstumsfonds Bayern – Green Car Congress
Munich-based LiDAR start-up Blickfeld has completed its Series A financing round. The new financing was led by the venture capital unit of Continental together with Wachstumsfonds Bayern, which is managed by Bayern Kapital, with participation of the existing investors Fluxunit – OSRAM Ventures, High-Tech Gründerfonds, TEV (Tengelmann Ventures) and Unternehmertum Venture Capital Partners. Blickfield’s Cube… Continue reading LiDAR Start-Up Blickfeld closes Series A with participation of Continental and Wachstumsfonds Bayern – Green Car Congress
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
(LEAD) Hyundai heir apparent buys Hyundai Motor, Mobis stocks to boost prices
(ATTN: UPDATES with more details from para 2) SEOUL, March 23 (Yonhap) — Hyundai Motor Group’s heir apparent Chung Euisun on Monday bought 19 billion won (US$15 million) worth of stocks in two key affiliates to prop up their declining prices. Hyundai Motor Executive Vice Chairman Chung Euisun purchased 139,000 shares of Hyundai Motor Co.,… Continue reading (LEAD) Hyundai heir apparent buys Hyundai Motor, Mobis stocks to boost prices
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.