JCI bids $1.25B for Visteon businesses
GLENDALE, WIS. Johnson Controls Inc. is making a $1.25 billion cash offer for the interiors and electronics businesses of bankrupt auto supplier Visteon Corp.
Visteon's presence in China's automotive interiors and electronics market is a main driver of the interest, JCI said May 21. Combining Visteon's Chinese operations with JCI's 23 joint ventures and 40 manufacturing sites in China could generate more than $7 billion in sales for JCI in 2011, the news release said.
We believe that Visteon's interiors and electronics businesses would be an excellent strategic fit with our Automotive Experience business, said Stephen Roell, chairman and CEO of Glendale-based JCI.
This acquisition would significantly expand our automotive interior technologies and capabilities. It would provide global scale and complementary products to our automotive electronics offerings. Importantly, it would broaden and deepen our global automotive customer relationships.
Visteon is in the Detroit suburb of Van Buren Township.
Ford adds suppliers to carbon footprint
DEARBORN, MICH. Ford Motor Co. is looking beyond its own doors to discover the size of its carbon footprint.
The Dearborn-based automaker is asking its supply base to tally their own environmental impacts, starting with a handful of key parts such as seats.
Suppliers play an important role as we look to reduce our overall carbon footprint and drive more efficiency in an energy-constrained world, said Tony Brown, group vice president, global purchasing, in a May 20 news release. This initiative builds on our leadership in collaborating with suppliers and gives them a way to participate in solving an issue that faces our entire industry.
Ford has been among carmakers ranking their environmental status beyond fuel economy standards, and has touted green initiatives including its use of soy oil-based urethane foam.
The initial survey of its supply base will include 35 suppliers, and the company noted that some of them DuPont Co. and Johnson Controls Inc. are conducting their own environmental studies independently of Ford's initiative.
Ford cannot fully understand its carbon footprint if it ignores the impact of its supply chain, the company said.
Orenda relocates to larger HQ building
MARKHAM, ONTARIO Orenda Automation Technologies Inc., which makes pulverizers for rotational molding powder, has more than doubled its space by moving into a larger headquarters building in suburban Toronto.
Orenda moved from a 13,000-square-foot building in North York, Ontario the company's original building when it was founded in 1995 to a 28,000-square-foot plant in Markham. The new plant is housed in a vacant factory building, said Mario Sisca, international sales manager.
Sisca said the facility has a showroom to display Orenda pulverizers. The original building was too small for a showroom.
Orenda makes pulverizers and grinding discs for the machines and sharpens discs and knives, and supplies spare parts for most brands of pulverizers. It also upgrades control systems for any brand of machines.
The new plant has 20-foot ceilings for larger pulverizers and an improved loading dock area.
Orenda did not disclose the dollar amount of the investment.
Renosol beefs up plastisol production
SALINE, MICH. Polyurethane foam maker Renosol Corp. has moved its PVC plastisol compounding operations to its Bay City, Mich., plant.
Renosol also has spent about $25,000 on new mixing equipment and tanks used in plastisol production, spokeswoman Bethany Freeland said by phone May 21. Previously, Renosol had made plastisols at a plant in Clare, Mich., that closed earlier this month. Plastisols are liquid plastics commonly used in molding and dipping applications.
We wanted to continue to serve existing customers and also gain market share, Freeland said of the plastisol move.
Renosol's plastisol products are used in tool grips, gaskets, caps and plugs, vehicle armrests, floor mats and other items.
Saline-based Renosol employs 25. The privately held firm does not release sales figures.
Copyright 2010 Crain Communications Inc. All Rights Reserved.