Rieter will buy Ello SA
Rieter Holding Ltd. will acquire Ello SA, a Brazilian manufacturer of interior trim and noise dampers. Ello employs 600 workers in two plants, and reported $70 million in annual sales. The company supplies Fiat, Ford, General Motors and Volkswagen. Rieter is based in Winterthur, Switzerland.
SPRINGS - Dana Corp. will sell the assets of its leaf spring manufacturing operation at Berwick, Pa., to Hendrickson International Corp. of Woodridge, Ill. As a result, the Berwick plant will close later this year. The plant employs 96 workers. The shutdown's after-tax cost totals $5.3 million. Separately, Dana will sell its transmission business to a unit of its Mexican affiliate, Spicer SA de CV. Terms were not released. Dana owns 49 percent of Spicer. Dana's three transmission plants in Arkansas, Tennessee and Ohio employ 400 people. Last year, sales totaled $104 million.
MIRRORS - Gentex Corp. reported record net income of $8 million in the second quarter, up 11 percent from the same period a year ago. Sales were a record $44.9 million. However, strikes at Chrysler Corp. and General Motors cost Gentex about $500,000 in net income.
PERSONNEL - Bundy International has named D. James Davis, 46, president of North American operations. Davis had been president of Glacier- Vandervell Inc. of Troy Mich., a bearings and bushings unit of T&N PLC in Manchester, England. He also has worked at Federal-Mogul Corp. Bundy, of Warren, Mich., is a maker of fluid-carrying systems. It is part of the TI Group of Abingdon, England.
EXHAUSTS - Arvin Industries Inc. reported record second-quarter sales of $633 million, up 8.5 percent. Net earnings were $21.1 million, up nearly 50 percent. Profits improved for exhaust systems and ride-control products. Earnings on sales of original equipment soared 45 percent, while profits on aftermarket equipment rose 12 percent.
MIRRORS - Britax Rear Vision Systems has opened a technology center in Clinton Township, Mich. The 40,000-square-foot facility will employ 65 people. Britax is a subsidiary of Britax International PLC, based in Porchester, England.