Automotive Systems will supply air bags to AG and Adam Opel AG as part of a new contract that Delphi believes will help better establish its European air bag presence.
Engineering for the two programs will be led by's Wuppertal Technical Center in Wuppertal, Germany. Although Delphi would not release details, the company says the VW contract is for a future global air bag program. At Opel, Delphi says it will supply driver and passenger air bags on a global scale. Delphi also says it has been contracted to supply air bags for an additional future Opel program. Earlier this year, Delphi announced a joint venture with Ashimori Industry Co. Ltd. of Japan (a leading seat belt supplier) as a way to develop new occupant protection system business for European customers.
In other supplier news: Siemens AG says it has won a $107.7 million contract from Adam Opel AG for radio and navigation equipment.& Mfg. Inc. says its Tonawanda forge plant in New York will begin to ship four new wheel bearing hubs in December, 1999, to SKF's assembly plant in South Carolina. Volumes for the four parts range from 100,000 to more than 900,000 units annually. National Instruments Germany GmbH says it has acquired GfS Systemtechnik, a software provider for the German automotive industry, and related subsidiaries for an undisclosed amount. Arvin Industries Inc. says it has acquired Camloc Gas Springs of Leicester, England, from Fairchild Corp. Terms of the transaction were not disclosed. The Aluminum Assn. plans to open a Detroit-based office later this year. Officials say the office will be a resource for members, customers and suppliers.
|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.
GenCorp shareholders approve a plan to spin off GenCorp's Polymer Products businesses into a separate publicly traded company. Ariba Inc. announces that AmericanMotor Co. Inc. has signed an agreement to use the Ariba eCommerce solution and the Ariba Network service for the company's electronic accounting and purchasing needs.
The Ward's Supplier Index gained 1.1% for the period ending Sept. 9, 1999, trailing the 2.2% rise of the Standard & Poor's 500. Of the 59 companies tracked, 19 posted declines in their stock prices.