Behr, Toyo form Japanese JV
German heating and ventilation supplier Behr GmbH has formed a joint venture with Japanese vehicle cooling specialist Toyo Radiators Ltd.
The new company will develop and produce engine cooling components and systems. It is expected to start operation in Hatano, Japan, in 2001.
Behr will take the industrial leadership in the joint venture, the company said, but the shares will be split 50-50.
Behr CEO Horst Geidel said the joint venture is aimed at building Behr's presence in the Japanese market following the DaimlerChrysler/Mitsubishi and Renault/ Nissan deals. Behr also wants to win business from other Japanese carmakers.
Geidel said Behr and Toyo are looking for common purchasing synergies.
The two companies also expect to form a joint venture in Europe in 2001 to improve their combined product offering to the European auto industry.
Behr had group sales of DM3.5 billion (E1.8 billion) in 1999. Toyo Radiators had sales of DM650 million.
Dow in control at Gurit-Essex
Dow Automotive, a division of US plastics giant Dow Chemical Co., will increase its stake in Gurit-Essex AG of Wattwil, Switzerland, from 50 percent to 100 percent.
Gurit-Essex is Europe's largest supplier of adhesives and sealants for the automotive industry.
Dow will buy out its partner, the Swiss chemicals specialist Gurit-Heberlein AG, for an undisclosed sum. The transaction is expected to close by April 2001.
Gurit-Essex was established over 30 years ago as a joint venture between Gurit-Heberlein and Essex Chemical Company.
Dow acquired a 50 percent interest in the business when it purchased Essex Chemical in 1988.
The acquisition is aimed at expanding Dow Automotive's global presence and strengthening customer relations, said the company's President Larry Denton.
Gurit-Essex has 870 employees and nine operations in eight countries - France, Germany, Italy, Romania, South Africa, Spain, Switzerland and the UK. It had sales of $228 million in 1999.
Fed-Mogul completes Koenig withdrawal
DETROIT - Federal-Mogul Corp. has completed the divestiture of its joint venture ownership in Koenig.
Other Koenig shareholders will purchase Federal Mogul's interest. Terms of the deal were not disclosed.
Koenig is an Austrian manufacturer of pistons and piston rings.
Ford logistics deal for Exel, UPS
LONDON - UK logistics group Exel has formed a joint venture with the European arm of United Parcel Service of America Inc. to manage the inbound supply chain for Ford of Europe.
Exel and UPS will review the effectiveness of all current inbound logistics processes for production parts and components, and examine planning and management to eliminate costs. The joint venture partners will have the chance to share in the savings generated.
An Exel spokesman said Ford's European plants would benefit from more predictable and precise delivery times for components, parts and subassemblies.