Daimler Financial Services India appoints Fred Weick as new MD

Daimler Financial Services India appoints Fred Weick as new MD

Daimler Financial Services (DFS), the captive finance arm of Daimler AG, announced the appointment of Fred Weick as the new Managing Director of Daimler Financial Services India (DFSI). Established in 2011, DFSI was originally helmed by Sidhartha Nair, who has since moved on to a new role within the DFS group. Nair is now the Head of Strategy for the[Read More…]

by January 26, 2015 Finance, News, OEM, Web Exclusive
Shared national vision – key for growth and development

Shared national vision – key for growth and development

In today’s world, when many of our competing economies have relatively slowed down; India has a great opportunity ahead, Arun Jaitley, Minister for Finance, Corporate Affairs, and Information & Broadcasting, Government of India, has said. “Analysts believe that if we can be consistent in our policy direction, and if we can thus restore the credibility of the Indian economy, a[Read More…]

by January 26, 2015 Events, Finance, Web Exclusive

KUKA is planning complete takeover of Swisslog

Now that more than 80% of the shares have been tendered in the public tender offer process, KUKA AG is aiming at a complete takeover of Swisslog Holding AG. In case of holding more than 90% of the Swisslog shares on expiry of the tender offer, KUKA AG would merge with Swisslog and compensate the remaining shareholders in cash. After[Read More…]

by December 5, 2014 Finance, Globescan, News, Web Exclusive

Visteon Confirms Discussions with Hahn & Co. Regarding Potential Sale of Ownership Interest in HVCC

Visteon Corporation confirmed it is currently engaged in discussions with Hahn & Company regarding a potential sale of Visteon’s ownership interest in Halla Visteon Climate Control Corp. (HVCC) to the Korea-based private equity company. There can be no assurance that these discussions will result in any transaction or on what terms any such transaction may occur. Visteon undertakes no obligation[Read More…]

by December 1, 2014 Finance, Globescan, News, Web Exclusive

Indian Wire Harness Manufacturing and Sales Company Tata Yazaki Autocomp Limited to become Yazaki wholly-owned subsidiary

We would like to take this opportunity to announce that as of November 2, 2012, Yazaki Corporation has agreed to purchase all the company shares of Tata Yazaki Autocomp Limited (TYA), its Indian wire harness manufacturing and sales joint venture company. The 50:50 joint venture between Yazaki Corporation and Tata Autocomp Systems Limited was established in 1997 for the manufacturing[Read More…]

by November 7, 2014 Finance, Globescan, News, Web Exclusive

DURR with high order intake

Spurred by sustained strong demand in the automotive industry, Dürr’s order intake rose by 7.3% to € 1.9 billion in the first nine months of 2014. With a 30.3% gain over the previous year in the third quarter orders retained the high momentum which they had shown in the second quarter of 2014. Order intake for all of 2014 is[Read More…]

Goodyear reports record results

Record third quarter segment operating income of $520 million, up 21%  Record North America third quarter earnings up 30% to $210 million  Europe, Middle East and Africa third quarter earnings up 57% to $181 million  Year-to-date segment operating income of $1.4 billion, up 17%  Company expects 2014 earnings growth near high end of 10% – 15% range  Company reaffirms 2014-2016[Read More…]

Eaton reports record operating earnings per share of $1.29, Up 15 percent

Power management company Eaton Corporation plc has announced that operating earnings per share, which exclude charges of $0.03 per share to integrate recent acquisitions, were a record $1.29 for the third quarter of 2014, up 15 percent over the third quarter of 2013. Sales in the third quarter of 2014 were $5.7 billion, 2 percent above the same period in[Read More…]

Magma Fincorp targets SMEs, plans 30% growth

Magma Fincorp targets SMEs, plans 30% growth

Text: Bhargav TS Kolkata-based Non-Banking Financial Company (NBFC) Magma Fincorp plans to focus on loans for SMEs (small and medium enterprises) and Suvidha (used vehicle loans) in the coming years. Magma provides a wide range of financial products including financing of utility vehicles and cars, commercial vehicles, construction equipment, tractors and SMEs. The company, which has a presence in semi-urban[Read More…]

by October 29, 2014 Finance, News

Delphi reports 3rd quarter 2014 Financial Results

Delphi Automotive PLC, a leading global vehicle components manufacturer, today reported record third quarter 2014 U.S. GAAP earnings of $1.02 per diluted share. Excluding special items, third quarter earnings increased 20% to $1.16 per diluted share. Third Quarter Highlights Include: • Revenue of $4.1 billion, up 3% • U.S. GAAP diluted earnings per share of $1.02, up 17% ◦ Excluding[Read More…]

by October 27, 2014 Finance, Web Exclusive