Dana Corp. to make VW suspensions
Dana Corp.'s Brazilian joint venture will supply Volkswagen AG with parts for three cars to be built at VW's plant in Sao Bernardo. Dana's venture, Sistemas Modulares Ltda., will make front and rear suspension modules and engine cradles for the Gol, Santana and Aveiro. Dana's partner in the venture is Freios Varga, a unit of LucasVarity PLC.
ELECTRONICS - Robert Bosch GmbH has formed a new business unit dubbed the Onboard Electronics Division. It will develop cockpit components, including instrument clusters, vehicle security systems, climate control, mobile communications, body electronics and control units. It will be based in Schwieberdingen, Germany. It will employ 1,800 people worldwide, with sales of $500 million.
FASTENERS - Textron Inc. will buy the North American fastener operations of Ring Screw Works, a specialty supplier. Terms of the deal were not disclosed. Ring Screw Works, based in Madison Heights, Mich., employs 1,100 workers in 11 plants, with annual sales of $200 million. Textron's $1.6 billion fastener systems division will absorb the acquisition. Textron Inc. is based in Providence, R.I.
EXHAUSTS - AP Automotive Systems Inc. will sell its aftermarket division to the owners of Air Tek Inc. of Hobart, Ind. Vange Proimos - one of the owners of Air Tek - will head a new company created by the acquisition of AP's aftermarket unit. Terms of the deal were not disclosed. AP's aftermarket division, based in Goldsboro, N.C., produces tubes, mufflers and other exhaust components. AP is based in Toledo, Ohio.
SEALS - Freudenberg-NOK has acquired Macrotech/Selastomer of Bensenville, Ill., from Macrotech Fluid Sealing Inc. Terms of the acquisition were not disclosed. Macrotech makes a variety of seals, including crankshaft seals and radial shaft seals, and other powertrain components. The company employs 100 workers, with sales of $12 million.
SHOCK ABSORBERS - Kayaba Industry Co. plans to boost annual shock absorber output at its American subsidiary, KYB Corp. of America. According to Bloomberg News Service, the company will raise output to 300,000 units, up from 120,000. KYB will install new production lines to boost sales to $50 million. The added production will supply shock absorbers to General Motors and Ford Motor Co. Kayaba is based in Tokyo.