Mannesmann's Vogl resigning as chair
MUNICH, GERMANY - After disagreeing over the sale of equipment supplier Netstal Maschinen AG, Wolfgang Vogl has decided to resign as chairman of Munich-based Mannesmann Plastics Machinery AG and leave his position on the Mannesmann board.
``He was not so happy about the situation with the selling of Netstal,'' Mannesmann spokesman Ralf Richter said in a July 27 telephone discussion. ``He always wanted the group to stay together with its six companies.''
A blur of events changed that situation. On July 5, London-based Apax Partners & Co. Ventures Ltd. purchased MPM, a group of six major equipment suppliers that included Netstal. Three days later, Netstal, based in Nafels, Switzerland, was sold by Apax to Emesta Holding AG of Zug, Switzerland. Emesta is controlled by Swiss businessman Christoph Blocher.
Prior to the Apax sale, Vogl had said that MPM's parent company, Siemens AG, would want to keep the companies intact when it shopped them to bidders. But Apax management, citing the difficulties in growing Netstal because of its Swiss minority ownership, decided to take Blocher's bid.
Apax officials were unavailable for comment July 27. Vogl will leave the board July 31. MPM will choose a new chairman from among its four board members, Richter said.
Two new MPM board members were appointed July 26. They are Helmar Franz, chief executive officer of Demag Ergotech GmbH of Schwaig, Germany, and Wilhelm Schroder, chief executive officer of Krauss-Maffei Kunststofftechnik GmbH of Munich. The other two board members are MPM personnel director Hennang Scheele and controller Gerhart Becker.
The MPM group includes the brands Krauss-Maffei, Van Dorn Demag, Demag Ergotech, Berstorff and Billion.
GM voices quality concerns with Guide
PENDLETON, IND. - Guide Corp.'s biggest customer is expressing concern over the quality of its parts, but General Motors Corp. is not threatening to take business away from the lighting supplier.
Purchasing officials for Detroit-based GM met recently with Guide officials to discuss worries that ``quality results slipped somewhat'' during recent months, said GM spokesman David Barnas.
The automaker occasionally meets with suppliers to discuss any concerns that may arise, he said. It has no plans to re-source its work from Guide.
The molding company had no comments on the discussions, but Dennis Hiller, chief executive officer for Pendleton-based Guide, told employees in a letter that the operation will increase its emphasis on quality as a result of the meeting.
Quality is one of four major areas the automaker follows with its suppliers, Barnas said. The other areas are technology, pricing and service.
McKechnie sells division to Teleflex
WALSALL, ENGLAND - Aerospace engineering, fasteners and plastic parts manufacturer McKechnie Group, which was purchased in a management buyout last year, has sold its McKechnie Vehicle Components fluid-handling division to Teleflex Inc. for $15.5 million.
The cash deal covers Walsall-based McKechnie's operations that mold plastic automotive and truck fluid-handling systems located in the United States and Europe, with annual sales of about $37 million.
Details about the plants in England, the Netherlands, Spain and the United States were not available.
The McKechnie plants supply brake and fuel system components to customers including Ford Motor Co., Visteon Corp. and AB Volvo.
Teleflex of Plymouth Meeting, Pa., is a diversified company serving the auto, aerospace, medical and industrial markets. The company has 16,000 employees and annual sales of $1.8 billion.
Teleflex has a fluid systems division based in Suffield, Conn., which makes flexible hoses for auto fuel lines. The unit has plants in Grand River, Ohio; Madison Heights, Mich.; as well as in Belgium and England.
