US aluminium sheet maker Novelis said Monday it had invested $48 million investment in its automotive scrap aluminium recycling facility in Oswego, New York. The company said the Oswego facility would meet increased demand for aluminium automotive sheet in North…
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Penske Automotive purchases Land Rover Dealership
Penske Automotive Group, Inc.an international transportation services company, has acquired a Land Rover dealership in Darien, Connecticut. The company estimates the dealership will generate approximately $50 million of revenue annually. “We are pleased to add the Land Rover brand to our existing automotive…
Bridgestone Corporation develops system to assess conveyor belt wear
A unique system capable of automatically assessing conveyor belt wear has been developed by Bridgetsone Corporation and is expected to launch worldwide in January. The company also will launch BRIDGESTONE MONITRIX, a mining operations support software also designed by Bridgestone…
Rogers acquires engineered silicones producer Arlon for US$157m
Handy& Harman has been successfully acquired by American specialty materials Rogers for US$ 157 million. Arlon produces high-frequency circuit materials and engineered silicones, which will complement Rogers’ printed circuit materials and high-performance foams business segments, the company said. For the…
Maxxis to open new factory in Indonesia
Since 2005, Maxxis has been present in Indonesia to introduce various types of high-quality tyres that have been recognized globally. Until now, Maxxis has been marketed in 130 countries, including Indonesia. On an international scale, Maxxis now ranks as the…
Short Interest of Delphi Automotive PLC grows
Delphi Automotive PLC (NYSE:DLPH) stated gains of 294,149 shares or 14.2% in the short interest. The short interest registered from 2,071,487 on December 15,2014 to 2,365,636 on December 31,2014. In terms of floated shares, the shorted positions stood at 0.8%.…
Steady growth for automotive steering systems, report says
The automotive steering systems market is poised for steady growth on account of growing emphasis towards incorporation of sophisticated, reliable assisted steering systems in vehicles. Arduous manual steering systems are on the verge of getting obsolete owing to increased importance…
POSCO completes construction of new high-end automobile factory
The construction of a high-end cold rolled steel sheet factory for automobiles with a production capacity of 1.8 million tons in Maharashtra, India has just been completed by POSCO. With a US$709 million (767.35 billion won) investment, the construction of…
Delphi Automotive PLC (DLPH) receives BBB credit rating
Morningstar has awarded Delphi Automotive PLC (DLPH with BBB credit rating. The firm’s “BBB” rating suggests that the company is a moderate default risk. They also gave their stock a two star rating. A number of other firms have also…
JK Tyre seek revision in inverted duty structure
JK Tyre & Industries has sought revision in inverted duty structure in the forthcoming Budget, saying it will offer a level-playing field to local tyre manufacturers. “We are probably the only country in the world with such an inverted duty structure…