Superior boosts wheel business
VAN NUYS, USA - Wheel maker Superior Industries International Inc. said it won multiyear contracts with an annual value of more than $250 million. The contracts include renewal of existing business and new orders. The replacement business includes contracts for several year 2000 models, including the BMW Z3 Coupe. Superior, based in Van Nuys, California, declined to identify the programs that generated the new business.
GKN increases ADS shareholding
GKN plc subsidiary GKN Automotive AG has boosted its stake in driveshaft manufacturer Asian Driveshaft Sdn Bhd (ADS) from 42.1 percent to 57.9 percent. Established in 1992, Malaysia-based ADS manufactures and supplies constant velocity joints and driveshafts. Its main clients are Proton, Toyota and Honda.
EC approves Visteon acquisition
The European Commission said on 29 June it had cleared Visteon's $490 million acquisition of Plastic Omnium's interior components division. 'In view of the structure and dynamics of the automotive components sector and the existence of a number of competitors on the market, the deal should not affect competition in Europe,' the EC said in a statement.