Tag: Recalls

Ford to recall 3 million vehicles for air bags at $610 million cost

By David Shepardson 3 Min Read WASHINGTON (Reuters) – Ford Motor Co said on Thursday it will recall 3 million vehicles for air bag inflators that could rupture, at a cost of $610 million. FILE PHOTO: Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. REUTERS/Wolfgang Rattay/File Photo/File Photo The… Continue reading Ford to recall 3 million vehicles for air bags at $610 million cost

Grammer Preliminary figures for the fourth quarter and the 2020 financial year

01/21/2021
Preliminary figures for the fourth quarter and the 2020 financial yearPublication of inside information in accordance with Article 17 of Regulation (EU) No. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)

Preliminary figures for the fourth quarter and the 2020 financial year

Ursensollen, January 21, 2021 – On the basis of its preliminary figures, Grammer AG expects to report group revenue of around 1.711 million euros for the 2020 financial year, roughly 16 percent lower than in the previous year (2019: 2,038.5 million euros). Group revenue for the fourth quarter should stand at around 514 million euros (2019: 488.9 million euros). Revenue performance in the third and fourth quarter recovered significantly over the first half of the year, which was heavily impacted by the economic effects of the COVID-19 pandemic.
Earnings before interest and taxes (EBIT) for the year as a whole were particularly impacted by exceptional effects primarily related to restructuring measures totaling around 20 million euros as well as one-time effects of roughly 48 million euros and are expected to come to roughly minus 49 million euros, compared with 74.5 million euros in the previous year (EBIT Q4 2020: roughly minus 2 million euros vs. EBIT Q4 2019: 12.6 million euros). Adjusted for the exceptional effects, operating earnings before interest and taxes (operating EBIT) should reach around minus 15 million euros, falling short of the previous year’s figure of 77.0 million euros (operating EBIT Q4 2020: around 9 million euros vs. operating EBIT Q4 2019: 17.8 million euros).
Among other things, the restructuring measures entail the consolidation of sites in Europe and North America as well as job cuts in indirect areas, primarily in Germany.
The main one-time effects include optimization of storage areas and the related impairments on inventories. In addition, provisions have been set aside to cover possible warranty claims as well as impairments of existing project assets.
Grammer AG will be publishing its full Annual Financial Statements and its Annual Report for 2020 on March 31, 2021.
Grammer AG
The Executive Board
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@Ford: Ford Motor Company Issues Safety Compliance Recall for 286 Ford Explorer Police Interceptor and Lincoln Aviator Vehicles in North America

About Ford Motor Company Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan. The company designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification; mobility solutions,… Continue reading @Ford: Ford Motor Company Issues Safety Compliance Recall for 286 Ford Explorer Police Interceptor and Lincoln Aviator Vehicles in North America

Tesla sues media over article that claimed quality issues and poor working conditions in China

Tesla is suing a Chinese media group over an article that described Tesla having serious quality issues and poor working conditions at Gigafactory Shanghai. The article Pingwest, a Chinese publication that describes itself as “the story of China’s tech evolution, beyond the headlines,” published a damning article on Tesla last month titled “Giga-Sweatshop Meets Corporate… Continue reading Tesla sues media over article that claimed quality issues and poor working conditions in China

@Groupe PSA: PR Appointment of the Top Executive Team to steer Stellantis001035

Amsterdam – Stellantis is establishing an efficient governance from Day One with the appointment of the Top Executive Team, together with the 9 dedicated committees covering company-wide performance and strategy.* Carlos Tavares, CEO of Stellantis, said: “This highly competitive, committed and well balanced team will leverage its combined skills and diverse backgrounds to guide Stellantis,… Continue reading @Groupe PSA: PR Appointment of the Top Executive Team to steer Stellantis001035

@Groupe PSA: PR The new name and governance of Stellantis take effect001033

Lijnden – Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) (“Stellantis”) announced today that, following completion of the merger of Peugeot S.A. (“Groupe PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) on January 16, 2021, today the combined company was renamed Stellantis, the Board of Directors of Stellantis was appointed, and Stellantis’s Articles of Association… Continue reading @Groupe PSA: PR The new name and governance of Stellantis take effect001033

@Groupe PSA: PR Merger of FCA and Groupe PSA approved by shareholders: FCA and Groupe PSA expect to complete the combination on January 16, 2021001032

Vélizy-Villacoublay and London – Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) and Peugeot S.A. (“Groupe PSA”) announce that their respective shareholders’ meetings, held today, approved the merger of FCA and Groupe PSA to create Stellantis N.V. (“Stellantis”) by an overwhelming majority (with more than 99% of the votes cast in favor of… Continue reading @Groupe PSA: PR Merger of FCA and Groupe PSA approved by shareholders: FCA and Groupe PSA expect to complete the combination on January 16, 2021001032

The merger of FCA and Groupe PSA has been completed

LONDON, Jan. 16, 2021 /PRNewswire/ — The merger between Peugeot S.A. (“Groupe PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) that will lead the path to the creation of Stellantis N.V. (“Stellantis”), became effective today. As previously announced, Stellantis’s common shares will begin trading on Euronext in Paris and the Mercato… Continue reading The merger of FCA and Groupe PSA has been completed

@FCA: Merger of FCA and Groupe PSA Complete

January 16, 2021 , Auburn Hills, Mich. – The merger between Peugeot S.A. (“Groupe PSA”) and Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA), which led to the creation of Stellantis N.V. (“Stellantis”), became effective today. As previously announced, Stellantis’ common shares will begin trading on Euronext in Paris and on the Mercato Telematico Azionario… Continue reading @FCA: Merger of FCA and Groupe PSA Complete