Continental's India venture
BOMBAY, India - Continental is negotiating to set up a joint venture with Indian tire manufacturer JK Industries Ltd. The plant would have a capacity of five million tires a year, 75 percent of which would be exported. Factories that export at least this proportion of their output avoid paying tax on imported materials.
PPG buys Max Meyer Duco
MILAN, Italy - PPG Industries has bought Milan-based finishing company Max Meyer Duco SpA from Santavaleria. Terms were not disclosed. PPG, which is based in the USA, is the largest supplier of coatings to European carmakers.
New Tennex facility
SALISBURY, UK - Tennex Europe will build a $7 million technical center next to its European headquarters in Salisbury.
The company will also recruit 100 extra staff at its plant and warehouse.
Delphi expands Portugal plant
SEIXAL, Portugal - Delphi Energy & Engine Management Systems will invest $5 million to expand manufacturing capacity at its Seixal plant.
Three new emission-control products will be added: bi-directional air meters, Multec 2 fuel-injector solenoids, and linear exhaust-gas recirculation valves. The investment will create 235 new jobs.
Teleflex buys UPG
BUSSUM, Netherlands - Teleflex Inc. has bought United Parts Group NV for $88 million. Netherlands-based United Parts Group has three technology centers and 11 manufacturing plants in Belgium, Sweden, France, the UK, the Netherlands and Slovakia. Teleflex said the purchase would expand the market for its gearshift cable products. Teleflex is based in Troy, Michigan, USA.
Hayes Lemmerz buys remainder of Hayes wheels
OSTRAVA, Czech Republic - Hayes Lemmerz International Inc. has bought the remaining 42 percent of Hayes Wheels Autokola NH, its joint venture in the Czech Republic with steel company Nova Hut a.s. The venture was formed in 1993 to make steel and aluminum wheels.
Maruti will buy Peugeot engines
BOMBAY, India - India's largest carmaker Maruti Udyog Ltd., will buy TUD5 diesel engines from Peugeot for its Zen and Esteem models. The Esteem is a direct competitor for the Peugeot 309, which is built in India by a joint venture between Peugeot and Premier Automobiles Ltd. Peugeot is withdrawing from the partnership.
Eaton opens satellite plant
VALINHOS, Brazil - Eaton Corp. will double its transmission production in Brazil by opening a satellite plant for its existing Valinhos facility in Sao Paulo state. Valinhos makes 280,000 transmissions a year for the GM Corsa. Tooling and equipment will cost $70 million.