Nissan sells stake
TOKYO - Nissan Motor Co. will sell a 14 percent stake in its Japanese affiliate Nihon Plast Co. Ltd. to Spain's Dalphi Metal Espana SA.
The deal also involves Nihon Plast's acquisition of a 10 percent stake in Dalphi, which supplies Nissan with steering wheels for commercial vehicles.
Nissan will retain a 12.6 percent interest in Nihon Plast, a supplier of steering wheels and airbag components.
Nissan said the move is part of its revival plan, which aims in part to strengthen its supplier links by creating more global relationships.
New Conti plant
BUCHAREST - German tire manufacturer Continental AG has opened a plant in the western Romanian town of Timisoara.
The factory, a greenfield project started early last year, will produce 8 million tires a year to serve the growing markets in eastern Europe.
Continental has so far invested more than $52 million in the factory. Another $35 million will be spent on the project by the end of 2002.
Omnium, Valeo JV
PARIS - French suppliers Plastic Omnium and Valeo have set up a 50-50 joint venture, Valeo Plastic Omnium. The venture will design, develop and produce integrated front-end modules.
Valeo Plastic Omnium has already won a contract from Renault and is finalizing a deal with another European carmaker.
The two contracts will be worth about E200 million.
Wagon gets assets
LONDON - UK auto parts maker Wagon plc will pay more than 8 million (E13.8 million) to buy certain assets from the administrative receivers of Hawtal Whiting Engineering Ltd. and its US subsidiary.
The activities being bought provide a range of design and engineering services for carmakers including Ford Motor Co. and General Motors as well as Tier 1 parts suppliers.
The services, said Wagon, include structural analysis, styling and testing focused on such areas as door systems.