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OEM Tier 1
Visteon Q2 Growth is 10%; CEO Hints at Split-Up PDF Print E-mail
Monday, 15 August 2011
Visteon’s CEO Don Stebbins has hinted at possible plans to break the company up and said that disclosure would have an adverse impact on a potential deal. "As we look out over a three-year horizon...I would be surprised if the product portfolio is the same as it is today," Reuters quotes Stebbins as saying.
The components manufacturer have interiors, climate control, electronics and lighting units businesses. Management previously said it would be a costly and complicated affair to disentangle the various businesses, the report said. The company's investors believe that the company is more valuable in parts, and have thus called for a breakup.

In the same time, Visteon Corporation have reported net income of $26m on product revenue of $2.18bn for Q2-2011, compared with a net loss of $201m on product revenue of $1.89bn in Q2-2010. Based on the growth seen in H1-2011, Visteon now expects full-year 2011 revenue to be in the range of $8.0bn to $8.2bn. Hyundai Motor Group and Ford accounted for approximately 32% and 28%, with Renault-Nissan and PSA Peugeot-Citroen each accounting for 7%. For H1 2011, Visteon's total product sales of US$4.15bn were higher by 11%, compared with the same period a year earlier. Visteon reported H1 2011 net income of US$65m, compared with net income of US$32m recorded in H1 2010.

 
Magneti Marelli to Make Shocks in China PDF Print E-mail
Monday, 15 August 2011
Magneti Marelli have formed a 50-50 joint venture with Wanxiang Qianchao Co. to produce shock absorbers in China. Under the agreement signed last week, the companies will build a plant in Xiaoshan in east China's Zhejiang province, according to a statement from Wanxiang Qianchao.
The plant will launch production in 2015 with an initial annual output of 5.7 million shock absorbers. Total investment in the plant is estimated to be 136 million yuan ($21 million).

Magneti Marelli have plants in Shanghai, Guangzhou and Wuhu that produce powertrain, exhaust, lighting and electronic parts.They also have formed a joint venture in Shanghai with SAIC Motor to make hydraulic components for automatic transmissions.
The Italian supplier entered the Chinese market in 1996. A subsidiary of leading Chinese auto parts maker Wanxiang Group, Wanxiang Qianchao makes suspension, brake and driveline parts.

 
Valeo H1 Profit Up 30% PDF Print E-mail
Monday, 01 August 2011
French-based global car parts maker Valeo say first-half net income surged 30% to €218m as cost cuts paired with higher sales outweighed a rise in raw material costs. Sales in the first six months of the year rose 13% to €5.33bn, bolstered by original equipment demand, Valeo said in a statement last week.

Valeo in March set out new revenue and profitability targets as it said Asia expansion and new technology would help them outpace automobile production growth in the coming years.

"In view of our record high order intake which stands at €7.7 billion and the success that our new products are encountering, I remain bullish about Valeo's ability to accelerate growth compared with the market in all of our businesses," CEO Jacques Aschenbroich said in the statement. He added that he is confident in the group's targets.

 
Gentex Report Strong H1-2011 Result PDF Print E-mail
Monday, 01 August 2011
Gentex have reported record financial results for the first six months of 2011. They record net sales increased by 28% to US$494m compared with US$387m in the first six months of 2010. Gross profit margin decreased from 36.8% to 35.6% for the first six months of 2011, primarily due to the impact of annual automotive customer price reductions and costs associated with supply chain constraints on certain automotive-grade electronic components, partially offset by the company's ability to leverage fixed overhead costs.

For the first six months of 2011, the company posted net income of US$80.8m, an increase of 21% compared with US$66.5m for the first six months of 2010. The increase in net income was due to increased net sales and gross profit.

Total auto-dimming mirror unit shipments grew 22% in the second quarter compared with last year. Automotive net sales increased 21% from US$196m to US$238m in the second quarter of 2011. Total auto-dimming mirror unit shipments increased 28% in the first six months of 2011. Automotive net sales increased 28% from US$378m to US$485m in the first six months of 2011. For the first six months, automatic-dimming mirror unit shipments increased 31% in North America, shipments to offshore customers grew 26%. Light vehicle production in Europe and North America increased 8%, while the figures dipped 19% in Japan and Korea.

Gentex's senior vice president Enoch Jen, said: “We currently estimate that shipments of our SmartBeam high beam headlamp assist product will now increase by approximately 60-70% in calendar year 2011, compared with shipments of approximately 630,000 SmartBeam units in calendar year 2010”.

 
Visteon a Takeover Target? PDF Print E-mail
Monday, 04 July 2011
Visteon, having emerged last year from bankruptcy protection, could be a "takeover candidate" for another auto parts supplier looking to boost their presence in Asia,
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Visteon Revenue, Earnings Figures Up PDF Print E-mail
Monday, 23 May 2011
Visteon have reported a gain in Q1 revenue for 2011 vs. 2010, and despite a decline in reported and adjusted earnings in the latest quarter have increased their revenue
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TRW, Valeo Eye China Growth PDF Print E-mail
Monday, 25 April 2011
It's still boom time in China not only for vehicle makers but western component suppliers as well. TRW believe their sales in the country will more than double in two years,
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Autoliv Consider Acquisitions PDF Print E-mail
Monday, 10 January 2011
Autoliv are considering major acquisitions and are looking at entire units at rivals such as Bosch, Continental and Denso — this according to the company's CEO.
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Federal-Mogul Recall Chrysler Parts PDF Print E-mail
Monday, 03 January 2011
Federal-Mogul are recalling 22,000 replacement control arm assemblies in certain Chrysler older model  vehicles , having found a fault that could cause the vehicles to crash.
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Mobis Speakers With Hanji Paper PDF Print E-mail
Monday, 03 January 2011
Hyundai Mobis Co. announced last week they have developed loudspeakers for onboard sound systems using hanji, a paper made out of mulberry trees.
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Visteon Chap-11 Protection Ends Soon PDF Print E-mail
Monday, 11 October 2010
Visteon expect to emerge from bankruptcy protection in October after settling almost all disputes with former owner Ford. The settlement assures that Ford will generate about $600m
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