Corvette, Sebring prices rise
DETROIT - Chevrolet has raised the price of the Corvette $500, and Chrysler has added $100 to stickers of the Sebring LX and LXi coupes. The new prices, including destination charges, are Corvette, $38,560; Sebring LX, $17,475; and Sebring LXi, $21,560.
The Sebrings have a $1,000 customer rebate. There is no rebate on the Corvette.
A VIEW OF GM
WINDSOR, Ontario - Chrysler Canada Ltd. plans a new corporate headquarters on the Detroit River in downtown Windsor, almost directly across the river from General Motors' new Renaissance Center headquarters.
Chrysler Canada now has corporate offices at the Windsor Assembly Plant on the city's southeast side.
DETROIT - Lear Corp. is acquiring two Italian suppliers of interior trim. Gruppo Pianfei S.r.L. of Pianfei makes door panels, headliners and interior trim for Fiat Auto S.p.A., BMW AG, Chrysler Corp. and others. Strapazzini Resine S.r.L. of Pesaro makes instrument panels, door panels and sunshades for Fiat, Ford Motor Co. and Chrysler. Together, the companies employ 1,070 workers and have combined sales of $130 million. The purchase price was not announced.
MINNEAPOLIS - Two automotive cable manufacturers - Dura Automotive Systems and Trident Automotive PLC - plan to dominate their market by merging. Last week, Dura said it will purchase Trident for $87.5 million in cash, plus Trident's debt. Trident, of Wixom, Mich., has annual sales of $300 million. Dura, based in Minneapolis, generates revenues of $525 million.
INDIANAPOLIS - Two former ADESA Corp. executives last week sued the Indianapolis-based auction and its parent company, Minnesota Power and Light, in a dispute over agreements the pair signed when they left ADESA in 1996.
Larry Wechter and Jerry Williams asked the Hamilton County Superior Court of Indiana to determine if buying auction real estate with their real estate investment trust, Monument Realty, violates the no-competition agreements. ADESA and Minnesota Power had filed suits alleging the two executives and former ADESA owner Michael Hockett violated the no-competition agreements.