(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
Category: Automotive
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
Volkswagen AG Annual Media Conference 2018
News Press Release News Group Wolfsburg, 09 March 2018 Volkswagen AG Annual Media Conference 2018 The Annual Media Conference of the Volkswagen AG at DRIVE. Volkswagen Group Forum in Berlin will be broadcasted live on Tuesday March 13, 2018 from 10:30am CET (09.30am UTC): …more
Tata Motors Group global wholesales at 121,252 in February 2018
Download press kit 9 March, 2018 The Tata Motors Group global wholesales in February 2018, including Jaguar Land Rover, were at 121,252 nos., higher by 18%, over February 2017. Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in February 2018 were at 46262 nos., higher by 28%, over February 2017. Global… Continue reading Tata Motors Group global wholesales at 121,252 in February 2018
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
Audi produces 60 liters of e-gasoline for engine tests
Posted 09/03/2018 12: 46: 52CET INGOLSTADT (GERMANY), 9 Mar. (EUROPA PRESS) – The automaker Audi has produced 60 liters of e-gasoline, the largest volume of this type of fuel developed through biomass, a sufficient amount to perform tests on engines, as reported by the company in a statement. “Like all Audi e-fuels, the new fuel… Continue reading Audi produces 60 liters of e-gasoline for engine tests
Audi advances e-fuels technology: new “e-benzin” fuel being tested
Audi is convinced of the potential of the fuels e-gas, “e-benzin” (e-gasoline) and e-diesel and is continuing to pursue its e-fuels strategy. In the case of synthetic Audi “e-benzin” (e-gasoline), the Ingolstadt company has now achieved an important intermediate goal. Together with their development partners, they have for the first time produced a sufficient quantity… Continue reading Audi advances e-fuels technology: new “e-benzin” fuel being tested
Honda reaches 25 million vehicles manufactured in the US
Posted 09/03/2018 11: 42: 37CET MARYSVILLE (UNITED STATES), 9 Mar. (EUROPA PRESS) – Honda has manufactured 25 million vehicles in the United States (US) since the Japanese firm began its activity in the US in 1982 with its plant in Marysville, Ohio, according to a statement. The company that now presides Takahiro Hachigo became 36… Continue reading Honda reaches 25 million vehicles manufactured in the US
Mazda and Toyota invest 1,300 million in a joint venture to produce 300,000 vehicles in the US
Posted 09/03/2018 11: 42: 09CET HUNTSVILLE (UNITED STATES), 9 Mar. (EUROPA PRESS) – Mazda and Toyota have invested 1,600 million dollars (1,300 million euros at the current exchange rate) in a joint venture with headquarters in Huntsville, in the State of Alabama (United States), through which they will manufacture up to 300,000 vehicles from of… Continue reading Mazda and Toyota invest 1,300 million in a joint venture to produce 300,000 vehicles in the US
Hyundai asks for union’s cooperation in cutting worker benefits
SEOUL, March 9 (Yonhap) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, recently asked for the cooperation of its union to accept a cut in benefits as part of a broader move to ride out the unfriendly business environment, the company said Friday. In a letter sent to the union last Friday, the… Continue reading Hyundai asks for union’s cooperation in cutting worker benefits