Amcast, the automotive parts manufacturer (aluminium wheels), has reported results for its fiscal 2002 first quarter, which ended on December 2 last year. Sales were down 5 per cent compared with last year, at $131.2 million. The net loss for the quarter was $5.5 million. Sales at Speedline, the company’s European operation, were up 9% on the previous year, benefiting from a strong vehicle market and favourable exchange rates.
The New Beetle aroused great enthusiasm in the United States when introduced and now VW wants to repeat the success story with a concept car called “Microbus”. At the Detroit Motor Show the reincarnation of the “love bus” from the 50s and 60s, the symbol for the flower power generation, is fitted with modern 20 inch aluminium wheels and Goodyear tyres size P 245/45 R 20.
Effective May 1, 2001, the Borbet group will acquire the casting facilities for light alloy wheels from Michelin-Kronprinz in Solingen (Germany). The production of steel wheels and fabricated aluminium wheels is still owned by the Michelin group. Customers for cast aluminium wheels made by Michelin-Kronprinz – annual capacity around 1.25 million – are solely in the oe market, mainly BMW and Volkswagen, plus Audi, the PSA group and Renault.
Alcoa Inc. of the U.S. and Dooray Air Metal Co. Ltd. of Korea have jointly announced that they have signed a memorandum of understanding for Alcoa to acquire Dooray Air Metal’s extrusion business, located in Changwon, Korea. Dooray’s production of aluminium wheels is not affected.
Accuride Corporation has announced an international marketing agreement with Amcast Industrial Corporation and Speedline s.r.l.. The agreement lays out procedures for the global marketing of the companies’ aluminium wheels for heavy/medium vehicles. This follows last year’s agreement on the marketing of steel wheels through an Amcast/Gianetti venture.
Amcast Industrial Corporation has announced it has won the contract to supply two new aluminium wheels for General Motors. The wheels will appear on the 2002 Chevrolet Malibu and Cavalier. Shipment will begin during the fourth quarter of 2001.
Superior Industries (Van Nuys, Ca.) has taken on the Mitsubishi Motor Manufacturing of America (Normal, Il.) as a new customer for cast aluminium wheels.
South African Diversified company Murray & Roberts has a new Chief Executive, Brian Bruce. In an interview Bruce announced that M & R is again in discussions with “some players” to sell subsidiary company Alloy Wheels International (AWI). The producer of oe aluminium wheels closed a factory in Cardiff (Wales) a few weeks ago.
General Motors recently introduced a “Precept Technology Demonstration Vehicle” at the Detroit Motor Show as part of the project PNGV (Partnership for a New Generation of Vehicles) – a co-operation of American car makers, suppliers and the federal government. The concept car is fitted with the lightest 3.8 kg 16-inch fabricated aluminium wheels by Hayes Lemmerz.
Superior Industries Int., North America’s leading manufacturer of original equipment aluminium wheels, has decided to repurchase 4 million of its 26.1 million outstanding shares. New orders of more than $ 350 million in the last twelve months has allowed an aggressive expansion of capacity, but the positive developments are not reflected in Superior’s stock price.
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