Valeo buys Labinal auto businesses
Valeo SA has bought three business units from French auto industry and aircraft supplier Labinal for w435 million. Called Sylea, Filtrauto and Telma, they will add revenues of w1.4 billion to Valeo. The units, which specialize in wiring harnesses, filters and other products, will add 16,000 employees at 49 facilities in France and the rest of Europe. Fiat, PSA/Peugeot-Citroen and Renault are the main customers.
Citroen could make Picasso in China
Citroen is considering building its Xsara Picasso compact minivan in the Wuhan, China, plant operated with local maker Dong Feng Motors through the joint venture DCAC. Renault also has plans to make the rival Scenic compact minivan in China.
Ressler gains Jaguar F1 role
Ford's Chief Technical Officer Neil Ressler has taken over management of the Jaguar Formula One racing team from Paul Stewart, who was diagnosed last month with cancer of the colon. Ressler will hold the job of chairman and chief executive officer, the same titles formerly held by Jackie Stewart, Paul Stewart's father. Ressler was to assume management of the team at the Spanish Grand Prix over the weekend.
Two Ford executives are filling in for Ressler as he has taken a leave of absence from his responsibilities as Ford chief technical officer. They are Will Boddie, vice president of global core engineering, and Bill Powers, vice president of research.
A story on Page 9 of the April 24 issue stated that Dutch dealer and car leasing company Athlon's lease fleet consisted of 17,350 cars. The correct figure is 78,000.
The age of Andrew Pollitt, chief program engineer for the Ford Galaxy minivan, was incorrect in an information panel on Page 16 of the April 24 issue. Pollitt is 44 years old.