Madurai-based TVS Tyres to invest Rs 150 crore to expand its capacity both in Madurai and Rudrapur facility. In 2014-15, the company had manufactured a monthly 1.6-million tyres in Madurai plant and 400,000 tyres in Rudrapur plant. The company’s Director, P Vijayaraghavan said, “During 2014-15, we have enhanced our capacity from 1.70 million tyres per month to 2 million tyres.[Read More…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
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…]
