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Continental Automotive Systems Starts India Operations

Continental Automotive Systems has opened a liaison office near New Delhi and inaugurated a technical centre in Bangalore, India. Continental set-up the liaison office in Gurgaon, near the capital New Delhi, in 2006. Working from here the company aims to expand its business with Indian and international OEMs in India. According, to the company the Technical Center in Bangalore will be involved in development projects “for all the business units of Continental Automotive”

As an initial part of the concept, two independent engineering facilities have been established with local partners in Bangalore. About 60 engineers work in Bangalore for Continental Automotive Systems today. It is planned to reach a capacity of more than 200 engineers in 2008, so Continental will be hiring intensively in the next few months.

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Hayes Lemmerz Reports Estimated Q1 Results

On May 15 Hayes Lemmerz International, Inc., global supplier of wheels, brakes and powertrain components, announced their estimated results for the first quarter of 2007 and issued updated guidance for the 2007 full fiscal year. The estimated results are unaudited, have not been reviewed by the company’s independent auditors, and are subject to adjustment during the course of preparation and review of the Hayes Lemmerz quarterly financial statements.

For the fiscal year first quarter 2007 Hayes Lemmerz expects to achieve sales of approximately US$560 to $565 million, Adjusted EBITDA of approximately $54 to $58 million, slightly negative free cash flow and capital expenditures of approximately $16 million.

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Smithers Names New VP, COO

Jay H Lutz has been named vice president and chief operating officer of Smithers Scientific Services Inc., responsible for overseeing all aspects of the company’s independent testing, research and consulting activities. He replaces Raymond B Farmer, who has left the company.

Mr Lutz brings to Smithers 30 years of experience in operations management, R&D and engineering. He has held management positions with Kelsey Hayes and Allied Signal and most recently was director of research and development at Raybestos Products Co. in Crawfordsville, Ind. Prior to that, he served as vice president of operations and general manager within a unit of Kett Engineering in Brighton, Michigan.

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Goodyear Tyres for Hybrid Truck

A prototype hybrid U.S. Air Force aircraft refueller truck built on a Mack Truck chassis features a new mixed-service tyre from Goodyear.

Goodyear Unisteel G287 MSA tyres (315/80R22.5) are mounted in the steer position on the 6,000-gallon refueller. Mack Trucks Inc. and the U.S. Air Force Advanced Power Technology Office developed the hybrid diesel-electric truck. Eight Goodyear Unisteel G286 tyres (12R22.5) are mounted on the vehicle’s rear drive axles.

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Nanjing Automobile Acquires MG Rover Assets

Nanjing Automobile Corporation (Nanjing) has beaten competitor, Shangai Automotive (SAIC), and acquired the assets of the MG Rover from the administrator, PricewaterhouseCoopers. The news owner reports that it intends to revitalise the MG brand and create a range of vehicles from manufacturing centres in China and the UK.

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Shanghai Automotive Bids for MG Rover

The future of MG Rover is likely to be decided in the next few days after Shanghai Automotive Industry Corporation re-entered the bidding in partnership with a former Ford executive.

SAIC’s confirmation of a strategic collaboration with Magma, which is run by Martin Leach, a former Ford Europe boss, and Ed Sabisky, a former General Motors executive, came after the administrator (PricewaterhouseCoopers) had threatened to sign a deal with its Chinese rival, Nangjing Automobile Corporation.

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JD Power/LMC Predicts Growth in Hybrid Engines

(Akron/Tire Review) JD Power/LMC Automotive Forecasting Services predicts that new vehicles powered by hybrid electric or clean diesel engines will garner 11 per cent of US sales by 2012. Currently, such vehicles hold a 4.8 per cent market share, said the firm.

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Chinese “Not Interested” In MG Rover

The UK Government and the administrators were informed this morning that SAIC “are not willing to acquire either the whole or parts of the MG Rover or Powertrain businesses on a going concern basis out of administration, nor are they willing to establish a UK joint venture incorporating the whole or parts of the MG Rover or Powertrain businesses.”

The administrator, PWC, has told the Government that it will not be applying for any further government loan to stave off redundancies at the company.

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Continental Results Show 21.4 per cent Growth

Continental AG have released results which show substantially growth for the second consecutive quarter.

The international automotive supplier increased its first-half consolidated sales 9.0 percent from 5,646.8 million euros (£3724.18) to 6,157.4 million euros (£4060.93), including the costs of exchange rates and consolidation charges.

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Hayes Lemmerz Receives ISO/TS 16949:2002 Certification

Hayes Lemmerz International has announced that all facilities in its Brake and Powertrain Components Group have achieved ISO/TS 16949:2002 (with design) Certification, from the International Automotive Task Force (IATF), a worldwide consortium of automotive manufacturers and trade associations. The group’s systems were audited and certified by Smithers Quality Assessments Inc. (SQA), an independent accredited registrar. ISO/TS 16949 is an international quality management system that aligns existing American (QS-9000), German (VDA 6.1), French (EAQF) and Italian (AVSQ) automotive quality systems into a single standard, thereby eliminating the need for multiple certifications.

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Transferable Warranty Offered By DaimlerChrysler

DaimlerChrysler (DCX) is to offer a 7-year/70,000 mile powertrain warranty as standard for all models. This differs from similar, existing deals (mainly offered by Korean manufacturers) in that it is transferable to subsequent owners of the vehicle. Industry analysts feel that the other two ‘Big 3’ manufacturers may be forced to follow suit and they point out that such deals can prove expensive if quality is not up to scratch.

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Buy Back in Hayes Lemmerz Stock Repurchase Program

Hayes Lemmerz International, one of the world’s leading suppliers of wheels, brakes, powertrain, suspension, structural and other lightweight components to the automotive and commercial highway markets, has announced that its Board of Directors has approved the repurchase of up to an aggregate of $30 million of its outstanding Common Stock. “Based on current market prices, our stock is at a historical low and we believe that the repurchase program is a good investment of available funds,” said Ron Cucuz, Hayes CEO and Chairman of the Board.

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