Finance

Canadian Auto Comp maker Magna to open two new facilities in Gujarat

Canadian Auto Comp maker Magna to open two new facilities in Gujarat

As part of its continued plan to expand its global engineering and manufacturing footprint, the Canadian auto components major Magna International Inc. has announced the establishment of two new facilities in the Sanand in Gujarat. While the new plants reflect business awards for vehicle programs built off global-platforms, they also help position Magna for further growth in India as vehicle production expands.[Read More…]

by September 24, 2014 Corporate, Finance, Globescan, News, Web Exclusive

Motherson Sumi Systems Limited announces Q1 FY 2014-15 results

Consolidated revenues up by 18%, EBITDA by 19% and PBT by 27%. Reported PAT grew by 125%, after providing for exceptional expenses of Rs.46 crores . SMR and SMP report improved performance. Standalone revenues up by 13%, EBITDA up by 9% and Reported PAT grew by 36%. The net consolidated debt at Rs. 4,195 crore , marginally up by Rs.[Read More…]

by August 12, 2014 Finance, News, Web Exclusive

Visteon announces second-quarter 2014 results; Reports record quarterly adjusted EBITDA

Financial performance Sales of $2.04 billion ($1.78 billion excluding discontinued operations) Record quarterly adjusted EBITDA of $193 million ($175 million excluding discontinued operations) Cash from operations of $31 million Continued progress under comprehensive shareholder value creation plan Reached agreement to sell majority of interiors business Completed acquisition of Johnson Controls’ electronics business on July 1 Completed HVCC acquisition of thermal[Read More…]

by August 8, 2014 Finance, Globescan, News, Web Exclusive

Paccar announces increased second quarter revenues and earning

“PACCAR reported increased revenues and net income for the second quarter of 2014,” said Ron Armstrong, chief executive officer. “PACCAR’s second quarter results reflect the benefits of improving truck sales in the U.S. and Canada and strong aftermarket parts and financial services results worldwide. I am very proud of our 22,600 employees who have delivered excellent results to our shareholders[Read More…]

TRW reports second quarter and first half 2014 financial results

TRW Automotive Holdings Corp. the global leader in active and passive safety systems, has reported second quarter 2014 financial results with sales of $4.6 billion, an increase of 2% compared to the prior year period (up 8% excluding the effect of businesses exited).  The Company reported GAAP second quarter net earnings of $265 million or $2.27 per diluted share, which compares to net earnings of $248[Read More…]

by August 3, 2014 Finance, Globescan, News, Web Exclusive

Eaton second quarter operating earnings per share of $0.41

Adjusted for Gain on Aerospace Divestitures, Legal Settlements and Associated Costs, Second Quarter Operating Earnings Per Share of $1.11 Core Sales Growth in Second Quarter of 3 Percent Lowering Top End of 2014 Operating Earnings Per Share Guidance Excluding Unusual Items, with 2 Percent Reduction to Midpoint of Range Power management company Eaton Corporation plc has announced that operating earnings[Read More…]

by August 3, 2014 Finance, Globescan, News, Web Exclusive

DENSO announces first-quarter financial results for fiscal year ending June 30, 2014

DENSO Corporation has announced its global financial results for the first quarter ending June 30, 2014: Consolidated net sales totaled 1,029.1 billion yen (US$10.2 billion), a 3.2 percent increase from the previous year. Consolidated operating income totaled 85.1 billion yen (US$839.1 million), a 16.7 percent decrease from the previous year. Consolidated net income totaled 68.8 billion yen (US$678.7 million), a[Read More…]

by August 3, 2014 Finance, Globescan, News, Web Exclusive

Delphi reports second quarter 2014 financial results

Delphi Automotive PLC, a leading global vehicle components manufacturer, has reported second quarter 2014 U.S. GAAP earnings of $1.26 per diluted share. Excluding special items, second quarter earnings increased 15% to $1.42 per diluted share. Second Quarter Highlights Include: Revenue of $4.5 billion, up 5% U.S. GAAP diluted earnings per share of $1.26, up 8% Excluding special items, earnings of[Read More…]

by August 3, 2014 Finance, Globescan, News, Web Exclusive
Daimler Financial Services completes 3 years of operations in India

Daimler Financial Services completes 3 years of operations in India

Daimler Financial Services India Pvt. Ltd. (DFSI), a 100% subsidiary of Daimler AG celebrates its 3rd anniversary in India. DFSI offers a full range of financing and insurance solutions to dealers & customers of Mercedes-Benz India & Daimler India Commercial Vehicles. It is the only captive financial services provider offering an Operating Lease solution to customers in the premium car segment.[Read More…]

by July 26, 2014 Finance, News, OEM, Web Exclusive

Auto Component industry registers negative growth, falls by 2.1%

J Srikant   Trailing the revenue trajectory of the auto industry, the auto component industry too recorded its first revenue de-growth in over a decade, falling by 2.1% in the financial year 2013-14. Auto Component Manufacturers Association (ACMA) today reported that the component industry has recorded a revenue of Rs 2,11,700 crore in FY 2013-14 as compared to Rs 2,16,000[Read More…]