Hot Off the Press
Dana Finds a Buyer for Engine-Parts Business
Wednesday, December 06, 2006
The Mahle Group, headquartered in Stuttgart, Germany, has entered into a stock and asset purchase agreement with Dana Corp. for the acquisition of Dana’s engine hard parts business. The agreement includes the acquisition of all worldwide units of Dana’s engine hard parts business by Mahle, including the Clevite aftermarket organization. In connection with the transaction, the parties will enter into ancillary agreements including an agreement granting Mahle exclusive distribution rights to Dana’s retained Victor Reinz branded products in the independent aftermarket in the United States and Canada. As a standard part of the bankruptcy process, Dana will allow other parties to make competitive bids for the engine hard parts business and there may be an auction at which Dana, Mahle and any other bidders will participate. Says Prof. Dr. Heinz K. Junker, Mahle CEO: “The acquisition would complement our worldwide market position particularly in the areas of piston rings and engine bearings, as well as in the aftermarket for engine parts.”
TRW Set to Support DaimlerChrysler in China
Tuesday, December 05, 2006
TRW Fawer Automobile Safety Systems Co. Ltd. (TFASS), Changchun, China, a subsidiary of TRW Automotive Holdings Corp., has established a manufacturing plant in Beijing, China, to produce chassis modules for Beijing Benz-DaimlerChrysler Automotive Co. TFASS, a joint venture between TRW and Chinese automaker First Auto Works, produces braking and steering systems, as well as airbags and steering wheels. The new plant, a 4500-sq.-m facility, will supply rear axles, brake assemblies, front struts and knuckle assemblies.
Paulo Products Facility Passes Upgrade Audit
Tuesday, December 05, 2006
The St. Louis, MO facility of Paulo Products Co. has been awarded accreditation to ISO/TS 16949:2002, recognizing its abilities to continually measure, monitor and improve in order to prevent defects and reduce waste. The firm, a supplier of heattreating, brazing and metal-finishing services, also is approved to the Ford HTX standard and has received the Ford Preferred Supplier Award. Paulo also operates facilities in Willoughby, OH, Kansas City, MO, and Nashville and Murfreesboro, TN. Look online at
www.paulo.com.
