Schenk assets acquired by Lemmerz
DETROIT - Wheel maker Hayes Lemmerz International Inc. has agreed to acquire the assets of the Schenk aluminum foundry in Maulbronn, Germany.
The purchase price was not disclosed. Schenk's customers include Audi, BMW, Opel and Porsche. Hayes Lemmerz, of Northville, Mich., said the deal will help expand its worldwide production of suspension components.
VALEO SETS UP VENTURES
PARIS - Valeo SA and Zexel have set up two joint ventures in automotive thermal applications. Valeo, a French lighting supplier, now owns 40 percent in a new venture called Valeo Zexel Climate Control Corp., with an option to raise its stake to 50 percent after three years. Sales in the venture's first year of operation are estimated to reach euros 1.1 billion, or about $1 billion at current exchange rates.
Sixty percent of the second venture, Valeo Zexel Engine Cooling, will be owned directly by Valeo. The other 40 percent will be owned by Valeo Zexel Climate Control Corp. Both ventures will target Asian markets.
AUTOLIV SIGNS NET DEAL
DETROIT- Autoliv Inc. of Stockholm has signed a deal to employ SupplySolution Inc.'s Net-based inventory management service, i-Supply Service, for 12 months.
Autoliv will begin its use of the i-Supply Service at its seat belt plant in Indianapolis. The i-Supply Service provides users with computer-based, real-time management of their supply chains.
DENSO FORMS FIRM
KARIYA, Japan - Denso Corp., parent company of Denso International America Inc., has established a company to develop pioneering front-end software technology as well as application technology for telematics products such as navigation systems.
The new company - Denso IT Laboratory Inc. - will be owned by Denso Corp. (65 percent) and Denso Create Inc. (35 percent), a systems engineering firm.
NEW TECH CENTER PLANNED
DETROIT - Kolbenschmidt Pierburg AG plans to build a technical center on a 12.5-acre site in Auburn Hills, Mich. The complex will include office, prototype assembly, laboratory and testing areas. As many as 500 employees from at least seven Kolbenschmidt automotive divisions may be brought to the center. It is being designed by Albert Kahn Associates Inc. of Detroit.
Kolbenschmidt designs and manufactures systems for internal combustion engines.