Dana builds rear-drive modules for Holden
TOLEDO, Ohio - Dana Corp. has begun production of rear-drive modules for Holden Ltd., General Motors' Australian subsidiary, in a deal valued at $100 million annually.
Production by Dana Australia Pty. Ltd. for the Holden Commodore passenger car expands Dana's most ambitious modular program in the Asia-Pacific region. Dana, of Toledo, provides Holden with the front corner modules for the Commodore.
AUTOLIV BUYS SUPPLIER
STOCKHOLM - Safety system supplier Autoliv Inc. has agreed to purchase steering wheel maker Izumi Ltd. of Atsugi, Japan. Price and terms were not disclosed. Izumi's acquisition will give Autoliv, of Stockholm, more than 20 percent of the Japanese steering wheel market. Autoliv makes steering wheels in North America, Europe and South America.
TRW CUTS PRODUCTS, SELLS UNIT
CLEVELAND - TRW Inc. said it would take a fourth-quarter charge for cutting some products. It also will record a $110 million gain for selling shares in wireless communications company RF Micro Devices Inc.
The move follows TRW's announced efforts to sell four auto parts businesses and some property to reduce debt since buying LucasVarity PLC, a supplier of automotive brakes. TRW, of Cleveland, plans a $50 million charge for halting sales of its warehouse-management system and Cybershield products, which protect information in computers.
INTERMET TO SHUT PLANT
DETROIT - Intermet Corp. plans to close its Ironton Iron Inc. foundry in Ironton, Ohio. The foundry employs 600. Continuing losses and the prospect of future losses prompted the decision to close the plant, which manufactures cast ductile iron parts for automotive customers. Intermet of Troy, Mich., purchased Ironton Iron in 1988.
SPARTAN MOTORS GETS RV DEAL
CHARLOTTE, Mich. - Chassis manufacturer Spartan Motors Inc. said it has been named exclusive supplier to RV maker Travel Supreme Inc.
Spartan, of Charlotte, said it received its first prototype orders from Travel Supreme of Wakarusa, Ind., earlier this year. A second order was placed this month for a platform recently introduced by Spartan. Travel Supreme manufactures fifth-wheel travel trailers.
THYSSEN FORMS STEEL UNIT
DETROIT - Newly created ThyssenKrupp Steel North America Inc. will take up the steel service activities previously operated by Thyssen Steel Group Automotive, a division of Thyssen Inc. NA.
ThyssenKrupp Steel, the successor to Thyssen Steel Group Automotive, will market and process high-grade flat steel for the auto industry in North America. Thyssen Inc will continue to distribute and process other metals and plastic products. The move is expected to streamline further the supply chain and related services to its customers.