Partners form Brazil steel venture
Steelmakers Cia. Siderurg-ica Nacional of Brazil and Thyssen Krupp Stahl AG of Germany plan to invest $250 million to supply steel to the Brazilian auto industry, according to Bloomberg News Service. The two partners have formed a company, GalvaSud, to build plants in the Rio de Janeiro and Sao Paulo regions. GalvaSud will produce up to 350,000 tons of steel a year. Cia. Siderurgica Nacional will own 51 percent of the venture.
CLIMATE CONTROL - Calsonic Corp. will form a joint venture with Polmo Kalisz Sp. of Poland to make parts for air conditioners, according to Bloomberg News Service. It will make heat exchangers, radiators and compressors for Daewoo Motor Co. Calsonic, based in Tokyo, will own 60 percent of the venture.
MIRRORS - Gentex Corp., based in Zeeland, Mich., is producing auto-dimming mirrors equipped with light-emitting diodes for the Oldsmobile Intrigue. It is the first time light-emitting diodes have been used for lighting in rear-view mirrors. In addition to light-emitting-diode map lamps, the mirror will contain a compass.
CONNECTORS - FCI Automotive has opened a technical center in Brecks-ville, Ohio. The 46,500-square-foot center will develop products for wire harnesses, connectors, terminals and junction boxes. FCI Automotive, based in West-land, Mich., employs 550 workers and has annual sales of $300 million.
RELOCATION - VDO North America has moved its headquarters to Rochester Hills, Mich., from Winchester, Va. The new 17,550-square-foot headquarters will house 100 employees. VDO makes fuel tanks, onboard navigators, instrument clusters and other components.
SEATS - Lear Corp.'s plant in Besigheim, Germany, is producing seats for the Porsche Carrera and Boxster. The new Porsche seats are based on Lear's modular Seat 2000 concept. The seats are shipped from Besigheim to nearby Zuffen-hausen, where the cars are assembled.
FASTENERS - Citicorp Venture Capital and Manage-ment has acquired the Fabri-Steel Group of Cos. Terms of the deal were not disclosed. FabriSteel makes fasteners. The new company is called FabriSteel Products Inc. and is in Southfield, Mich.