Borg-Warner Automotive opens its new Transmission Advanced Product Development Center for Europe (TAPD-E) near Heidelberg, Germany. The facility is the company's third European technical center and will focus on advanced product development activity for clutch systems and control modules for automatic and automated manual transmissions for the European market.
Borg-Warner Automotive says it expects to more than double its European business from $357 million to $900 million-plus due to three factors: expected increase in automated transmission demand, increased use of turbochargers and chain-driven engine timing systems and rising sales of all-wheel-drive vehicles.
In other supplier news:International Inc. reportedly told analysts last week it has netted seat contracts with U.S. Big Three automakers worth $700 million annually. A Reuters report says the bulk of that business is with Motor Co., for the Oakville, Ont.-built Windstar, which is being revamped for 2002. Corp. currently supplies Windstar seats. U.K.-based TI Group has agreed to acquire the outstanding 51% equity in Walbro's Marwal joint venture from Magneti Marelli SpA for $73 million. France-based Marwal makes fuel pumps and modules for automotive fuel systems and has operations in three countries. TI and Magneti also say they've agreed to collaborate on future projects. Code-Alarm Inc. says it is supplying remote keyless entry systems for original equipment installation on the Kia Sportage line of sport/utility vehicles. FAG Automotive Ltd., is awarded a long-term contract in Brazil to produce a specialty water pump bearing for use in the Dodge Neon. Sika Automotive plans to open an $8 million, 30,000-sq.-ft. acoustic testing center in Madison Heights, MI, Sept. 29. The first installation of PPG Industries Inc.'s Power-Prime two-coat electrodeposition (e-coat) process has become operational at DaimlerChrysler AG's Campo Largo, Brazil, assembly plant.
|8/12/'99||% Chg. |
|% Chg. |
Yr. to Date
|Note: This index is a weighted average with a 100-point base figured from 1/2/97. For details see Ward's Automotive Reports, May 3, '99, insert. |
Source: Ward's/Roney Capital Markets.
The Ward's Supplier Index fell 3.5% for the period ending Aug. 12. That trailed the performance of the Standard & Poor's 500, which dipped only 1.2%. Of the 61 companies tracked, 51 lost ground.