Nemak’s net income up 5.6%; secures new contracts for electric vehicles worth US$280 million
Monterrey-based automotive parts manufacturer Nemak posted fourth quarter net income of US$38 million, up 5.6% compared to same period of 2017, despite a drop on total revenue. Full-year net income totaled US$180 million, down 6.3%. Nemak sold 11.5 million equivalent units (MEU) in the last quarter...
By 2021, 80% of BorgWarner's business will be electrified vehicle-related
Last week, BorgWarner Inc. reported fourth-quarter net income of US$230 million, compared to a loss of US$146.2 million in the same period a year earlier. The Michigan-based automotive supplier posted fourth quarter revenue of US$2.57 billion, down 0.5% compared with fourth quarter 2017. Excluding ...
Tenneco aftermarket, ride performance spinoff to be called DRiV Inc.
Tenneco announced its spinoff aftermarket and ride performance company will be called DRiV Incorporated. The publicly-traded company will launch in the second half of the year, when Tenneco will split into two independent companies. Once it spins off, DRiV will serve as one of the largest global mu...
French group Novares acquires Wisconsin-based manufacturer MPC, including one plant in Sonora
Novares announced the acquisition of Wisconsin-based Miniature Precision Components (MPC), a thermoplastic company that produces highly engineered plastic components and integrated modules for vehicle powertrains. The financial terms of the deal were not disclosed. “The acquisition of MPC, with a...
Israel-based irrigation solutions supplier Rivulis opens manufacturing plant in Guanajuato
Rivulis, an Israel-based designer y manufacturer of micro irrigation solutions, announced today that it is expanding its global footprint with the establishment of a new, state-of-the-art plant in Guanajuato, central Mexico.  Located at the Advance Puerto Interior industrial park, in the municipal...

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