Automotive
Automotive supplier Tribar Technologies is planning to close three factories in Wixom, Mich., and lay off 188 people after being acquired and consolidated.
A market researcher from GlobalData told those at the IISRP's Annual General Meeting that the tariffs implemented by President Trump could cost the U.S. up to 1.5 million units in light vehicle sales this year.
Tariffs may ruin your next game night. That's right, there's no escaping trade war news even when you shut down your computer and silence your phone. I'm as sorry about that as you are.
There's plenty keeping the automotive industry up at night, but when it comes to concerns, tariffs are typically top of mind, says Kristin Dziczek, a policy advisor with the Federal Reserve Bank of Chicago. "The big concern I have right now is for suppliers,"
Continental AG is putting its focus entirely on tires and will split from its ContiTech business that include plastic extrusions and rubber parts.
Taiwanese automotive supplier Minth Group Co. Ltd. has expanded into Canada with a C$300 million investment (US$211.9 million) to establish a manufacturing facility in Windsor, Ontario.
Private equity firm Atlas Holdings has united Rehau Automotive and SRG Global Inc. into RESRG Automotive, a manufacturer with sales that could top $1 billion in North America.
Jon Husby, CEO of the Grand Rapids, Mich.-based Adac, said the deal "supercharges" the company's ongoing diversification strategy by tapping into more Tier 2 automotive business while accessing more non-automotive customers.
Munich-based Aurelius Private Equity Mid-Market Buyout will acquire Auburn Hills, Mich.-based automotive supplier, Teijin Automotive Technologies North America, from its Japanese parent company Teijin Ltd.
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