Penske Automotive Group, Inc, an international transportation services company, has completed the acquisition of Freightliner medium and heavy-duty commercial truck dealerships operating in the Chattanooga and Knoxville, Tennessee markets. These dealerships represent the full line of Freightliner commercial truck products…
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Steering system shows steady growth: report
The demand for steering system has showed steady growth due to the expansion of the automotive market. This is according to the Automotive Steering System Market Size (2014-2018) Analysis for Global and Chinese Regions In 2014, the global automotive steering…
Batu Kawan Bhd profit slumps by 25.5%
Batu Kawan Bhd recorded a 25.5% slump in earnings to RM116.95 million for the first quarter ending Dec 31, 2014 (1QFY15) compared to RM156.97 million in the previous corresponding quarter due to lower crude palm oil (CPO) and rubber prices.…
Automotive interior components market to worth US$305.1 bn by 2019: forecast
The automotive interior components is projected to grow at an amount of US$305.1 billion by 2019, with a CAGR of 6.31% respectively from 2014 – 2019. This is according to the report “Automotive Interior Components Market by Product (Cockpit Module,…
Plan pushed for rubber cultivation in Arunachal Pradesh
The Rubber Board of India is committed to taking steps to boost rubber cultivation in the state. This was stated by the Board’s North Eastern Zonal Additional Production Commissioner Anil Kumar, who along with Deputy Production Commissioner K A Grijamoni,…
Giti Tire will launch its latest GT Radial next generation drive axle
Giti Tire will launch its latest GT Radial next generation drive axle tyre at CV Show 2015. Making its debut at stand 4G40, the GDR638 is a high-performance drive axle tyre designed specifically for medium-sized trucks and buses. The tyre…
Kesoram to transfer loss-making tyre unit
Loss-making BK Birla group outfit Kesoram Industries has decided to transfer its tyre unit at Laskar in Uttarakhand into a subsidiary, upon recommendation by its committee. The company said the committee also suggested “monetising some of its assets” to reduce…
IRS 2129 rubber modified adhesive from Intertronics
The adhere IRS 2129 rubber modified adhesive from Intertronics is a high performance black rubber modified resin system, designed for the bonding of dissimilar materials with differing rates of thermal expansion to provide a tough and resilient joint. This includes…
Liberty Tire Recycling restructures to reduce its debt
Liberty Tire Recycling Holdco LLC has reached a financial restructuring agreement (to be completed within 90 days) with stakeholders to reduce its debts. Lenders halted access to a US$75 million revolving credit line after Liberty Tire breached the terms of…
Penske Automotive’s fourth-quarter 2014 earnings improved 14.5%
Zacks restated their outperform rating on shares of Penske Automotive Group (NYSE:PAG) in a report issued on Friday. They currently have a US$58.00 target price on the stock. Zacks’ analyst wrote, “Penske Automotive’s fourth-quarter 2014 earnings improved 14.5% to US$0.79,…