(Bloomberg) — Faurecia SE agreed to take over Hella GmbH in a deal valuing the German automotive supplier at 6.8 billion euros ($8 billion), beating out rival bidders from the European car-parts industry. Nanterre, France-based Faurecia will purchase a 60% stake from Hella’s founding Hueck family through a mixture of cash and stock, according to… Continue reading Faurecia to Take Over Auto Supplier Hella in $8 Billion Deal
Tag: Strategy
Combining Faurecia and Hella to create a global leader in fast-growing automotive technologies, fully aligned with industry megatrends
Nanterre (France), August 14, 2021 COMBINING FAURECIA AND HELLA TO CREATE A GLOBAL LEADER IN FAST-GROWING AUTOMOTIVE TECHNOLOGIES, FULLY ALIGNED WITH INDUSTRY MEGATRENDS FAURECIA TO LAUNCH A PUBLIC TENDER CASH OFFER ON HELLA AND ACQUIRE ITS 60% STAKE FROM THE FAMILY POOL Creation of the #7 global automotive supplier, with a highly advanced technology portfolio… Continue reading Combining Faurecia and Hella to create a global leader in fast-growing automotive technologies, fully aligned with industry megatrends
Faurecia changes size with the takeover of German Hella
In the heart of summer, the race for consolidation continues among automotive suppliers. The French group Faurecia will buy a majority stake in its German counterpart Hella and proposes to acquire all of it to create a global giant in the sector, presented as the seventh largest player in the world. Under the terms of… Continue reading Faurecia changes size with the takeover of German Hella
Daimler Investors push for independent chairman as Zetsche bows out – Reuters Canada
By Reuters Staff 3 Min Read FRANKFURT (Reuters) – Investors welcomed former Daimler DAIGn.DE chief executive Dieter Zetsche’s decision to forego his role as chairman of the German carmaker, announced at the weekend and starting a race to find an independent head of the company’s supervisory board. FILE PHOTO: Daimler AG CEO Dieter Zetsche delivers… Continue reading Daimler Investors push for independent chairman as Zetsche bows out – Reuters Canada
Nidec: Hydro further invests at its Cressona facility in Pennsylvania000016
Hydro Extrusions Cressona, PA (PRESS RELEASE) OSLO, 29-Jul-2021 — /EuropaWire/ — Hydro announces its EUR 41 million ($48.3 million) investment for asset modernization in Cressona, Pennsylvania, to support the growing transportation, distribution, and industrial market segments in North America. The company will continue its strategy of asset modernization with the installation of a state-of-the-art 3,000-ton… Continue reading Nidec: Hydro further invests at its Cressona facility in Pennsylvania000016
@GM: OnStar Expands Work with RapidDeploy to Advance Public Safety Technology
OnStar Expands Work with RapidDeploy to Advance Public Safety Technology GM Ventures invests in the cloud-based emergency response platform, RapidDeploy, as a commitment to increasing public safety situational awareness with data-driven technology 2021-08-10 DETROIT – GM Ventures today announced its participation in the $40 million Series B funding round for RapidDeploy, a public safety technology… Continue reading @GM: OnStar Expands Work with RapidDeploy to Advance Public Safety Technology
August 11, 2021 Via and May Mobility announce on-demand autonomous service in Grand Rapids, Michigan
Aug. 11, 2021 (Ann Arbor) — May Mobility, a leader in autonomous vehicle (AV) technology and shuttle operations, in partnership with the City of Grand Rapids, Via, the leader in TransitTech, and Gentex, today announced the launch of an on-demand AV shuttle service in Grand Rapids, Michigan. The expanded, on-demand service began on July 26, 2021, as part of Phase… Continue reading August 11, 2021 Via and May Mobility announce on-demand autonomous service in Grand Rapids, Michigan
Otonomo Technologies Ltd. and Software Acquisition Group Inc. II Announce Closing of Business Combination
HERZLIYA, ISRAEL, Aug. 13, 2021 (GLOBE NEWSWIRE) — Otonomo Technologies Ltd. (“Otonomo”) (Nasdaq: OTMO), a premier one-stop shop for vehicle data, and Software Acquisition Group Inc. II (Nasdaq: SAII) (“Software Acquisition Group”), a publicly traded special purpose acquisition company, today announced the completion of their previously announced business combination to form a leading mobility data platform… Continue reading Otonomo Technologies Ltd. and Software Acquisition Group Inc. II Announce Closing of Business Combination
Shortage of everything: How Covid-19 exposed the vulnerability in modern global supply chains
Several years from now, as the impact of the Covid-19 pandemic is deconstructed and documented, one phenomenon that dominated headlines in the early days may or may not make the textbooks: supermarket aisles stripped bare of toilet paper, hand sanitizers, and other everyday items across the globe. One year on, the world is learning to… Continue reading Shortage of everything: How Covid-19 exposed the vulnerability in modern global supply chains
XUV700 begins Mahindra’s offensive to reclaim leadership in SUVs
By 2026, Mahindra & Mahindra (M&M) looks to launch 23 new vehicles. Of these, nine will be SUVs. This strategy reflects the OEM’s new thrust for its automotive business to be a leading player again in its core area of SUVs. In India’s booming utility vehicle market, M&M currently has a 15% market share, behind Maruti Suzuki… Continue reading XUV700 begins Mahindra’s offensive to reclaim leadership in SUVs