GKN moves to buy Zenith
LONDON - GKN Sinter Metals, part of GKN plc, has bought US powder metal components manufacturer Zenith Sintered Products Inc. for an undisclosed sum.
Zenith has five plants in Wisconsin and specializes in main bearing caps for automotive engines. It also produces sprockets and parts for power steering pumps, antilock braking systems, transmissions and transfer cases. Zenith had sales of $61.4 million last year - 80 percent of which were auto industry sales.
New Venture capacity grows
DETROIT - New Venture Gear Inc. plans to increase four-wheel-drive transfer case capacity by 20 percent at its plant in East Syracuse, New York.
The addition of 9,000 square meters of production space will allow New Venture to build an additional 500,000 transfer cases a year. New Venture, of Troy, Michigan, is owned jointly by General Motors and DaimlerChrysler AG. It also supplies Ford Motor Co. and BMW in North America.
Valeo completes wind tunnel
PARIS - Valeo Klimasysteme GmbH has finished a DM5 million (euro 2.5 million) refurbishment of its climatic wind tunnel in Hockenheim, Germany. The 18-meter-long tunnel is designed to test vehicle thermal systems under a variety of climatic conditions.
The company has also opened a new technical center in Bad Rodach to test future Valeo climate control systems for German carmakers. Valeo Klimasysteme is part of French supplier Valeo's climate control division.