Conti chief steps down
HANNOVER, Germany -Hubertus von Gruenberg will step down as chairman of the Germany-based tire and brake supplier, Continental AG, on June 1 for personal reasons. The company said the decision has nothing to do with the chairman's function at the company. A spokesman said von Gruenberg, 56, will remain active in strategic planning at Continental.
TOOL MAKER SOLD
DETROIT - Progressive Tool & Industries Co., a Southfield, Mich., producer of vehicle-making equipment, has agreed to be acquired by Fiat S.p.A. The deal, for $630 million in cash and debt, will combine Fiat's Comau S.p.A. unit into one of the world's largest automotive tool-and-die companies, with sales of about $2 billion this year.
DETROIT - The Automo-tive Hall of Fame in Dearborn, Mich., is accepting nominations for its Young Leadership and Excellence Award. The program, open to men and women 35 years old and younger, recognizes potential industry leaders. Only 33 people have won the award since its inception in 1980. The deadline for nominations is May 6. Nomination forms can be obtained by calling (313) 240-4000.
PEORIA, Ill. - Twenty-one black workers at Mitsubishi filed a lawsuit against the company and their union, claiming blacks who work for the carmaker are harassed, passed over for promotions and denied training opportunities. The Associated Press reported that the complaint, filed March 25 in U.S. district court, said evidence of racial discrimination at the carmaker's Normal, Ill., plant was ignored by the UAW and Mitsubishi Motor Manufac-turing of America Inc.
NEW YORK - United-Auto Group last week reported that its losses continued in 1998, and the company confirmed it is in 'preliminary discussions' to seek a new investor. Industry insiders say Detroit-based Penske Corp. could be interested. On Friday, April 2, Penske spokesman Dan Luginbuhl refused to comment. On March 31, UnitedAuto reported a net loss of $797,000 for the year, vs. a $10.1 million loss in 1997. Both years included large write-offs.