Suppliers

Magna unit to acquire closures supplier Techform

12:55 pm U.S. ET | Oct. 1, 2014
Magna International's closures unit plans to acquire Techform Group, a supplier of hinges, door locking rods and other closure products. Terms of the deal, expected to be completed early this month, were undisclosed....
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GreenTech Automotive raises $47 million in equity offering

6:31 am U.S. ET | Oct. 1, 2014
GreenTech Automotive Inc., the battery-powered carmaker previously led by Virginia Gov. Terry McAuliffe, raised $47 million in an equity round. Ninety-four investors contributed to the financing, according to a filing Monday with the U.S. Securities and Exchange Commission....
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2014 Eurostar winner Heinz-Gerhard Wente

Oct. 1, 2014 06:01 CET
The executives chosen as 2014 Automotive News Europe Eurostars achieved success by exceeding expectations. Heinz-Gerhard Wente, head of Continental's ContiTech division, is this year's Eurostar winner for Supplier Division CEO....
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Magneti Marelli opens first U.S. exhaust systems plant

3:49 pm U.S. ET | Sept. 30, 2014
Magneti Marelli Holding USA, the Italian parts supplier owned by Fiat Chrysler Automobiles, has opened its first exhaust systems plant in the United States, the company said....
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Honeywell revs up global turbocharger projections

12:08 pm U.S. ET | Sept. 30, 2014
The global use of turbochargers to amplify engine power, already on the rise in recent years, is expected increase even more than earlier projections -- to 49 million sales annually by 2019, supplier Honeywell said in its annual forecast....
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AT&T says 2 million customers using connected-car service

11:23 am U.S. ET | Sept. 30, 2014
AT&T gave its first look at the performance of the connected-car unit, a new growth businesses for the largest U.S. phone service provider....
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Panasonic to buy 49% stake in Spanish supplier Ficosa

Sept. 30, 2014 14:48 CET
Panasonic says it has agreed to buy a 49 percent stake in Spanish supplier Ficosa to allow the companies to accelerate the launch of electronic technologically advanced automotive mirrors that support safe driving....
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Toyoda Gosei settles U.S. price-fixing charge, pays $26 million fine

1:46 pm U.S. ET | Sept. 29, 2014
Japanese auto parts maker Toyoda Gosei agreed to plead guilty to price-fixing and pay a $26 million fine, the Justice Department said. Toyoda Gosei, which acknowledged conspiring to fix prices of airbags, steering wheels and automotive hoses, is the 29th auto parts maker to plead guilty to price-fixing since the Justice Department began its long-running investigation....
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Japan's keiretsu suppliers at risk in a new reality

12:01 am U.S. ET | Sept. 29, 2014
Japanese suppliers are struggling to adjust to a new business reality that threatens to undermine the country's keiretsu system of tightknit cooperation between carmakers and their favorite-son suppliers. Blame the unraveling on an immutable truth: Japan's carmakers have stopped expanding at home....
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Takata airbag recall may expand to include GM vehicles

5:47 pm U.S. ET | Sept. 26, 2014
The regional recall of millions of U.S. vehicles with potentially defective airbags made by Takata may be expanded to include GM models, according to documents filed this week with U.S. regulators....
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Brose launches output at $62M Michigan plant supplying Detroit 3

2:36 pm U.S. ET | Sept. 26, 2014
German supplier Brose North America launched production today at a $62 million factory in southeast Michigan to manufacture liftgates, door modules, latches and seat structures for the Detroit 3 automakers....
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Hyundai unions plan more strikes to protest $10B land deal

6:44 am U.S. ET | Sept. 26, 2014
Workers at Hyundai Motor Group pledged more strikes as the two carmakers and their biggest supplier finalized a $10 billion purchase of plum real estate in Seoul's ritzy Gangnam district for a new headquarters....
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EU orders Germany to stop backing Mercedes' use of banned refrigerant

Sept. 25, 2014 16:00 CET
The EU has ordered Germany to stop backing Mercedes' use of a banned car refrigerant within two months or face court action and possible fines. Mercedes is refusing to use an alternative refrigerant citing safety concerns....
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Renault-Nissan rethinks EV battery strategy

Sept. 25, 2014 06:01 CET
The Renault-Nissan alliance is reviewing its in-house battery production. Renault-Nissan CEO Carlos Ghosn says that the alliance will buy batteries from external suppliers rather than relying nearly exclusively on those made internally....
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Aleris to invest $350 million in U.S. to meet growing auto aluminum demand

10:27 am U.S. ET | Sept. 24, 2014
Aleris plans to invest $350 million to expand its rolling aluminum mill in Kentucky and start its first U.S. automotive body sheet production to meet burgeoning demand for lightweight materials in North America....
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Yazaki will pay $100 million to settle U.S. price-fixing claims

11:40 am U.S. ET | Sept. 23, 2014
Wire harness market leader Yazaki, which paid the largest federal criminal fine so far in a three-year prosecution of automotive supplier price-fixing, also will shell out the largest civil settlement -- $100 million -- in related settlements....
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Michelin seen missing 2014 sales goal, report says

Sept. 23, 2014 11:37 CET
Michelin may miss its goal of boosting sales by 3 percent this year on weak European and emerging markets, a French daily reported, citing the company's finance chief Marc Henry....
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2014 Eurostar winner Guglielmo Fiocchi

Sept. 23, 2014 06:01 CET
The executives chosen as 2014 Automotive News Europe Eurostars achieved success by exceeding expectations. Sogefi CEO Guglielmo Fiocchi is this year's Eurostar winner for Supplier CEO....
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GABE NELSON

Hyundai's hubris -- $10B land deal backfires

4:08 pm U.S. ET | Sept. 22, 2014
Chung Mong-Koo sought to imbue Hyundai with Gangnam style. Instead, Hyundai Motor Group's $10 billion bid for a nearly 20-acre plot in Seoul's prestigious Gangnam district backfired on the company that Chung has elevated into a global powerhouse....
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Pay gap remains under Lear UAW contract after demise of two-tier wages

3:02 pm U.S. ET | Sept. 22, 2014
The UAW has ended two-tier wages for the majority of workers at a Lear seating plant in Indiana, but certainly not all. A new four-year UAW contract ratified Sunday promises wage parity for about 450 of the 760 workers at Lear's Hammond, Ind., plant, said Tom DiDonato, Lear senior vice president of human resources....
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Hyundai directors kept in dark on size of $10 billion land bid, report says

10:56 am U.S. ET | Sept. 22, 2014
Hyundai Motor and two affiliates did not seek board clearance for the size of their record $10 billion bid for a plot of land in Seoul, more than triple its appraised value, four board members of the companies told Reuters....
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ZF-TRW 'playing in a new league'

12:01 am U.S. ET | Sept. 22, 2014
ZF's acquisition of TRW will put the German company in an elite group: Megasuppliers able to feed automakers' growing appetite for collision-avoidance technology....
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Honda, GM crack down on certified-used rule benders

12:01 am U.S. ET | Sept. 22, 2014
Honda and GM, among others, are closely monitoring dealerships' compliance with certified used-vehicle programs -- and cracking down on rule breakers....
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EDITORIAL

Be nice to suppliers

12:01 am U.S. ET | Sept. 22, 2014
Today, fewer and larger suppliers control many key technologies and can choose which automakers get their latest products first....
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Arcelor: We can do what aluminum can

12:01 am U.S. ET | Sept. 22, 2014
ArcelorMittal has a message for automakers scrambling to hit the new fuel economy targets mandated for 2025: You don't have to make vehicles out of aluminum to do it....
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