Exide faces Sears lawsuit
READING, Pa. - A lawsuit against Exide Corp. by former customer Sears, Roebuck and Co. alleges that the battery maker made questionable payments after obtaining an initial supply agreement.
The Sears lawsuit, in response to a lawsuit Exide filed in September seeking damages in excess of $15 million from the retailer, contends Exide made cash payments of $20,000 or more to a Sears employee. Exide got the business, but it is not clear whether the Sears employee was responsible.
Exide denies that any member of its senior team, manager or agent of the company made or authorized the alleged payments.
SINTERCAST DEAL INBRAZIL
STOCKHOLM, Sweden - Fundicao Tupy of Joinville, Brazil, has agreed to use a process control technology developed by SinterCast AB of Stockholm to produce specialized castings. Fundicao Tupy claims to be the largest independent foundry in Latin America, with a combined capacity of 380,000 tons per year of iron for automotive components. SinterCast specializes in the development, manufacture and sales of process control technology for high-volume production of compacted graphite iron castings.
DANA GASKET DEALS
TOLEDO, Ohio - Dana Corp. will begin making special steel gaskets in its Danville, Ky., plant to fill new contracts with several original equipment manufacturers. Dana's Victor Reinz Group, a division of Dana's Engine Systems Group, is expected to begin producing the multilayered steel head gaskets by mid-2000.
NYLON SUPPLIER EXPANDS
LYON, France - Rhodia Engineering Plastics SA, one of the world's largest nylon suppliers, has begun an expansion aimed at North American automakers. The French specialty chemicals company has opened a design, engineering and testing center in Farmington Hills, Mich., and a plant in Mississauga, Ontario. The company's materials are used in interior, exterior and under-hood components.
DETROIT - Intermet Corp. of Troy, Mich., has agreed to acquire Ganton Technologies Inc. and Diversified Diemakers Inc., makers of die cast automotive components. Terms were not disclosed.
Ganton, of Sturtevant, Wis., produces oil pans, transmission housings and other automotive fluid-handling components. Diversified, of Monroe City, Mo., supplies brake pedal brackets, instrument panel frames and other die cast products. The sellers are JJM LLC, Gantec II LLC and Cerberus Institutional Partners LP.