Automotive Systems reports second quarter 2000 earnings of $424 million, or $0.75 per share, up from $394 million for like-'99. The supplier reports $7.8 billion in sales for the quarter, including non-GM sales of $2.2 billion. Net income margin grew to 5.5% from 5.1% for the same quarter last year. Chief Financial Officer Alan Dawes declines to comment on rumors that Delphi and Japanese joint venture partner Calsonic Corp. are discussing a potential deal. ... Magna International Inc. workers vote for a union at the Brighton, MI, Interior Systems plant while workers in Holland, MI, vote against representation by the United Auto Workers union. The UAW says Magna officials physically and verbally assaulted workers. ... Visteon Corp. will invest $80 million to expand its plant in Szekesfehervar, Hungary. Most of the investment is for production of a new line of air conditioning compressors in 2002. ... Johnson Controls Inc. launches a bid for Japan's Ikeda Bussan Co. Ltd., a $1.2 billion seatmaker affiliated with Motor Co. Ltd. offers $1.12 per share ($100 million) to buy the 91 million outstanding shares and assume $85 million in debt. The deal could close in September. ... Collins & Aikman opens its global headquarters in Troy, MI.
- Compiled by David E. Zoia from Ward's staff and wire reports.