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…
Category: Investments
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.…
23% gain for Penske Automotive
Strong year-end vehicle sales, gains in service and parts gross margins and investments in commercial vehicle businesses pushed Penske Automotive Group Inc. to a 23 % gain in net income during the fourth quarter. The nation’s second-largest dealership group said today it…
South Korea to invest US$17 bn in Indonesia
As many as 16 South Korean companies have expressed a serious commitment to spend up to US$17.1 billion in a wide array of sectors from power generation to minerals processing in Indonesia, the Investment Coordinating Board (BKPM) said. About US$8.5…
Data Bus Market to Worth US$8.55 Billion by 2020
According to the new market research report “Data Bus Market by Protocol (MIL-STD, AFDX, ARINC 429/629, CAN, TTP), by Application (Military, Commercial Aviation, Automotive), by Component (Micro couplers, Cables, Connectors, Accessories), by Geography – Global Forecasts & Analysis to 2020”,…
Transaction complete for the steelcord business of Pirelli in Turkey
Pirelli & C. S.p.A. has concluded the sale of its steelcord business in Izmit, Turkey, to steel wire producer N.V. Bekaert S.A., as part of a deal to divest its steelcord business. Completion of the sale in Turkey follows by…
Continental Tyre replacement business now in Dubai
To drive forward the expansion of its Passenger and Light Truck Tire (PLT) as well as Commercial Vehicle Tire (CVT) replacement business in the Middle East and North Africa (MENA), Continental has relocated the relevant business units from Hanover in…
Continental Completes Veyance Acquisition
Continental has concluded its acquisition of the U.S. rubber company Veyance Technologies Inc, of Fairlawn, Ohio, on January 30. On January 29, the Brazilian antitrust authority CADE (Council for Economic Defence) cleared the transaction with certain conditions, thus providing the…
Mahindra & Mahindra closer to acquire stake in Saab Automotive
India’s largest maker of utility vehicles and tractors Mahindra & Mahindra, is close to successfully acquiring a stake in the company that owns Swedish auto maker Saab Automoive, the Dow Jones Newswires reported, citing court documents. National Electric Vehicle Sweden is owned by National Modern…
Soros may invest in auto dealer groups
Billionaire financier George Soros wants to invest in or buy a large automotive dealership group, potentially following in the footsteps of Warren Buffett, Automotive News reported. Two representatives of Soros Fund management, which Soros chairs, attended the National Automobile Dealers…