Borg-Warner sells plant
CHICAGO - Borg-Warner Automotive Inc. has sold its Gallipolis, Ohio, powdered metal forge operations to GKN Sinter Metals Inc. The sale allows Borg-Warner to focus on developing automatic transmissions, said spokeswoman Mary Brevard. The Ohio plant, which produces parts for automatic transmission clutches, supplies General Motors, DaimlerChrysler and Borg-Warner, which is based in Chicago. Terms of the sale were not disclosed. GKN Sinter Metals, of Auburn Hills, Mich., will continue to supply parts to its existing customers. The Gallipolis plant had 1998 revenues of $40 million.
VALEO-UNISIA JECS DEAL
PARIS - Valeo SA and Unisia Jecs Corp. have agreed to form a joint venture. Valeo, of Paris, will be the majority shareholder in the as-yet unnamed venture, which will manufacture clutches and components for manual and automatic transmissions. The new venture will incorporate Unis ia Jecs' clutch division, which had 1998 revenues of $93.8 million. The venture's manufacturing operations will be based at a Unisia Jecs plant in Atsugi-Shi, Japan. Valeo estimates 1999 revenues from the sale of clutch and transmi ssion components will reach $639.6 million.
TRW PLANS NEW PLANT
DETROIT - TRW Automotive Inc.'s Chassis Systems Division will open a manufacturing plant in Rayong, Thailand. The plant will produce front corner brakes, front cradles, pedal boxes and rear axles. It will supply Adam Opel AG's Zafira compact minivan. The plant is expected to begin production next May.
BENDIX BRAKES ON WEB
MORRIS TOWNSHIP, N.J. - AlliedSignal Inc. will sell its Bendix brand replacement brakes to consumers over the Internet, according to Bloomberg News Service. The online initiative, called Bendix Direct, will offer 10,000 products to car and light-truck owners. Allied-Signal said the U.S. market for replacement brakes is $700 million a year.
BALASSAGYARMAT, Hungary - Delphi Automotive Systems Corp. and Calsonic Corp. together will invest $100 million in a plant to build automotive air conditioners here, Bloomberg News Service reported. Delphi, a Troy, Mich., company, will be the majority shareholder in the company. Calsonic, of Tokyo, is affiliated with Nissan Motor Co.