GM awards 3 contracts to Lockheed
OWEGO, N.Y. - General Motors has awarded three multiyear information-management contracts to Lockheed Martin. Lockheed Martin will take a role in GM's Service Parts Operations' data processing services, provide maintenance and support for 79 financial systems programs, and create a central marketing and decision-support program for GM's Customer Management System. Lockheed Martin's Federal Systems Division is in Owego, N.Y. Financial terms for the contracts were not announced.
AUTOLIV TAKES STAKE
STOCKHOLM - Autoliv Inc. has agreed to buy half of Norma AS, the major seat-belt supplier in the Russian auto industry. The agreement with the Estonian Norma Group AS would let Autoliv expand its business in Russia and Eastern Europe. Norma had sales of about $30 million last year and is traded publicly in Russia. Russian vehicle production is expected to reach 1 million units this year.
COLONIAL HEIGHTS, Va. - AlliedSignal Inc. has patented a new fiber for use in seat belts that it says will change the way the belts work. The fiber, patented under the name Securus, stretches slightly as passengers move forward in a crash and then pulls the occupants back into place, according to the company. AlliedSignal's performance fibers tech center is in Colonial Heights, Va.
EL CAJON, Calif. - Industria Automotriz Mexicana SA de C.V. of Tijuana, Mexico, says it will build 10 small factories over the next five years to produce inexpensive composite vehicles for Mexico and the Caribbean region. Under a licensing agreement with California-based Composite Auto World Transport Authority, the Mexican company expects to build between 3,200 and 9,750 composite vehicles a year with a retail price of about $7,000. The licensing agreements were valued at $4 million, with the California company retaining a 20 percent interest in each factory.
VANCOUVER, British Columbia - Ballard Power Systems Inc. has signed a $250,000 contract with Yamaha Motor Co. Ltd. to supply fuel cells and related services to a Yamaha research and development program. Ballard supplies proton exchange membrane fuel cells to General Motors, Honda, Nissan, Volkswagen and Volvo.