MascoTech forging firm try to deal
MascoTech Inc. said it is discussing the purchase of some operations of a European forging company. MascoTech did not identify the business, which has annual sales in excess of $100 million. If completed, the acquisition would occur late this year.
AIRBAGS - TRW Automotive Electronics Group has opened a 37,500-square-foot engineering center near its North American group headquarters in Farmington Hills, Mich. The center includes seven advanced engineering labs. By the end of the year, the center will house 180 technical and professional employees.
BRAKES - LucasVarity PLC reported sales of $1.9 billion for the fiscal quarter ending April 30, up 8.6 percent. Operating profits totaled $139 million, up 11.7 percent. The company reported higher brake sales despite strikes at General Motors and Chrysler Corp. Sales of diesel engines also rose, due to demand for agricultural and construction equipment.
INFLATORS - Delphi Automotive Systems and Talley Industries have named their new joint venture Aegis Technologies LLC. The venture's first product will be a pyrotechnic airbag inflator that does not use sodium azide. The driver-side inflator will be introduced on 1999 vehicles. Production will be in Mesa, Ariz.
NAVIGATORS - Etak Inc. has signed a $400,000 contract to help disseminate traffic data to commuters in the Seattle area. Etak will supply hardware and software to Seattle Smart Trek, which will issue traffic reports to travelers using onboard navigators, pagers, portable computers and cell phones.
ENGINE PARTS - The Cosworth division of Vickers PLC expects to double its sales in the next four years. The company is expanding its manufacturing plant in Wellingborough, England, to produce two new engines for unnamed customers. Cosworth's foundry in Worcester also has a contract to produce components for Rover's new V-6 engine in 1998.