Valmet Oyj’s stock exchange release on April 24, 2020 at 13:00 p.m. EETValmet announced on April 21, 2020 the start of co-determination negotiations for temporary lay-offs in Finland. The negotiations were started due to financial and production related reasons, especially because of the reducing workload in the services business done close to customers and in… Continue reading Valmet’s co-determination negotiations for temporary layoffs are completed
Tag: Contract Manufacturer
Sony Vision-S Electric Crossover Renderings Show Off Sleek Design
Sony surprised us earlier this year with the Vision-S at the Consumer Electronics Show. It was a concept car designed to showcase the company’s various automotive technologies in one sleek package. However, it didn’t remain Sony’s only car. A video highlighting the Vision-S shortly after the reveal briefly showed the front clip of a high-riding,… Continue reading Sony Vision-S Electric Crossover Renderings Show Off Sleek Design
Valmet to start co-determination negotiations for temporary lay-offs in Finland
Valmet Oyj’s stock exchange release on April 21, 2020 at 11:00 a.m. EETThe global Covid-19 pandemic causes uncertainty in Valmet’s operating environment and the company announced on April 16, 2020 a withdrawal of its guidance for 2020. The impacts of the pandemic on Valmet’s operations and business environment depend on the duration and severity of… Continue reading Valmet to start co-determination negotiations for temporary lay-offs in Finland
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
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
Valmet Automotive started to produce safety masks in plant Żary, Poland
In response to the corona crisis Valmet Automotive started with the production of safety mask in its plant in Żary, Poland. In Żary Valmet Automotive produces Roof & Kinematic Systems for diverse premium car brands: “It is our honour and duty to do our utmost in these difficult times to protect those who fight the… Continue reading Valmet Automotive started to produce safety masks in plant Żary, Poland
Kia compact vehicles contractor suspends production
FILE PHOTO: A Kia Picanto car is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 8, 2017. REUTERS/Arnd Wiegmann/File Photo SEOUL (Reuters) – A South Korean contract manufacturer for Kia Motors’ (000270.KS) compact vehicles has suspended production, a company official said on Monday, citing a drop in overseas demand as… Continue reading Kia compact vehicles contractor suspends production
Valmet Automotive Annual Review 2019: Successful entry into battery business, significant improvement in EBITDA and cash flow despite challenging envi…
Valmet Automotive’s EBITDA and cash flow improved significantly from the previous year, operating profitability slightly and the annual car production of 114,000 vehicles reached again a record volume. Sales of EUR 651.5 million, EBITDA significantly improved Valmet Automotive’s net sales in 2019 were EUR 651.5 million (662.6 in 2018), which was 2 % lower than in… Continue reading Valmet Automotive Annual Review 2019: Successful entry into battery business, significant improvement in EBITDA and cash flow despite challenging envi…
MAGNA POSTS 2019 ANNUAL REPORT
AURORA, Ontario, March 27, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that its 2019 Annual Report, including Management’s Discussion and Analysis and Audited Consolidated Financial Statements, Annual Information Form (AIF) and Form 40-F, are now available on the company’s website, www.magna.com. Magna has also filed these documents with the… Continue reading MAGNA POSTS 2019 ANNUAL REPORT
Magna International Investments S.A. — Moody’s places Magna’s ratings under review for downgrade
Moody’s Investors Service, (“Moody’s”) placed the ratings of Magna International Inc. (Magna) under review for downgrade including its A3 LT Issuer Rating, (P)A3 Senior Unsecured Shelf rating, and A3 Senior Unsecured Notes rating. More specifically, Magna’s exposure to final consumer demand for light vehicles has left it vulnerable to shifts in market sentiment in these… Continue reading Magna International Investments S.A. — Moody’s places Magna’s ratings under review for downgrade