Edscha eyes Portuguese firm
REMSCHEID, Germany - Door hinge supplier Edscha AG is planning to acquire its Portuguese competitor Arjal-Industrias Metalurgicas SA. Edscha, based here, would not disclose a purchase price but said a declaration of intent has been signed.
Edscha operates some 19 production sites worldwide and has a 35 percent global market share in the automotive door hinge sector. It had sales of A492 million in the 1998-99 financial year. Arjal has an annual turnover of about A25 million.
Valeo and Unisia confirm clutch JV
PARIS - France's Valeo SA has finalized details of a planned clutch joint venture with Japanese supplier Unisia Jecs. Valeo will take a 66 percent stake and Unisia 34 percent. The venture will acquire Unisia's clutch-making operations. The cost was not disclosed. Unisia, a parts-making affiliate of Nissan Motor Co., said its clutch division had sales of 10 billion yen ($95 million) in the year ended March 1999.
The two companies agreed to form the joint venture last October. It will be called Valeo Unisia Transmission Corp. Valeo has also formed a tie-up with Japan's Zexel Corp. to make car air conditioning systems, and has said it is looking for an electronics deal in Japan.
Solvay moves into Germany
DETROIT - Solvay Automotive, a supplier of automotive fuel and emissions component systems, has created a wholly owned subsidiary in Heidelberg, Germany.
The Solvay Automotive Fuel System Deutschland unit is part of Solvay's effort to move closer to its customers. The move follows Solvay expansions in South America, central Europe and Asia. Solvay Automotive, based in Troy, Michigan, USA, is part of the Solvay Group, an international chemical and pharmaceutical group in Brussels.
MSX buys Fiat publishing arm
TURIN - MSX International Inc. has acquired Satiz SpA, the magazine and technical publishing subsidiary of Fiat SpA. Satiz, based here, has annual revenues of more than A120 million. A purchase price was not disclosed.
Eaton divests machine tool unit
CLEVELAND, USA - Eaton Corp. has sold a machine tool controls business to Germany's Siemens AG. Price and terms were not disclosed. Eaton, based here, sold the part of its Vickers Electronics Systems unit that makes electronic controls for machines used in manufacturing. That business had 1998 sales of $109 million. Eaton acquired the business with its April 1999 acquisition of Aeroquip-Vickers Inc. Eaton said the controls division did not fit with its other operations.
TI Group receives VW supplier award
LONDON - TI Group Automotive Systems has won a Leading Edge supplier award from Volkswagen. The annual award recognizes flexibility, innovation, quality, service and success in worldwide competition. TI Group Automotive Systems is a fluid carrying specialist.