Ford will invest in Hungary
SZEKESFEHERVAR, Hungary - Ford will invest about $37 million to expand its parts factory here, said Ford Hungary Director John Pearn. The plant makes electric starters, fuel pumps and other parts for Ford and Mazda models.
Michelin warns of work-week cut
CLERMONT-FERRAND, France - Groupe Michelin Chairman Francois Michelin has warned France's socialist government on the effects of a proposed cut in the working week, from 39 to 35 hours with no loss of pay. He told shareholders that excessive regulation could make new cars too expensive to buy. Michelin's 1996 sales were FF71.2 billion ($13.9 billion), up 7.8 percent.
RESOLVEN, UK - TRW Inc. has formed a joint venture with Toyoda Machine Works Ltd. to produce power steering pumps. Toyoda TRW Steering Pumps Ltd. will be based in Resolven, South Wales. Toyoda will own 60 percent of the $17 million venture. It will employ 200 workers.
The two companies already have an eight-year-old partnership, Toyoda TRW Automotive Inc., in Morristown, Tennessee, US. That venture makes power steering pumps and hoses.
Speedline supplies Corvette
TURIN - Italy's largest alloy wheels supplier Speedline is the sole source for magnesium wheels on the fourth-generation Chevrolet Corvette. The wheels are an option in the US, and standard on Corvettes sold in Europe. The wheels will be manufactured at Speedline's plant in Tabina, Italy, near Venice.
Daewoo engines in Tashkent
TASHKENT, Uzbekistan - UzDaewooAuto plans to build an engine plant in Tashkent with an eventual annual capacity of 300,000 engines. The ground-clearing stage should be completed this year. Construction should start in 1998, said Jahongir Mavloni, the company's planning department chief. In 1996 UzDaewooAuto produced 11,839 Nexia compacts, 8,439 Damas micro-buses, and 4,600 Tico sub-compacts. This year the company plans to produce 75,000 Nexias, 35,000 Ticos, and 15,000 Damases.
Fuchs joins Superior venture
BUDAPEST, Hungary - Superior Industries International Inc. has formed a joint venture in Hungary with Germany-based Otto Fuchs Metallwerke for automotive forgings.
The company recently reported a four-year contract with General Motors to supply cast aluminum transmission brackets.