Canadian manufacturer Magna sees earnings decline in fourth quarter due to tariffs
Canada-based automotive supplier Magna International Inc said its profits declined in the fourth quarter despite record sales due in part to tariffs and investments in electric and autonomous vehicles. “Despite some headwinds, we are positioned for another good year,” CEO Donald Walker told ana...
Delphi Technologies 4Q earnings hike 141%; full-year net income up 25%
Delphi Technologies, a manufacturer of propulsion systems for electric-vehicles and cars powered by internal combustion engines, reported a 141% hike in its fourth-quarter net income to US$135 million. Nearly half of the earnings came from a US$63 million tax gain in the quarter, compared to a US$2...
Report: Spain-based Fagor Ederlan to build US$70-million plant in San Luis Potosí
Spain-based manufacturer Fagor Ederlan plans to build a new plant in San Luis Potosi, central Mexico, for which the company obtained a 15-million-euro credit facility (around US$17 million at current exchange rate), Spanish media reported. The loan has already been approved by Cofides (Compañía E...
Bosch to complete US$85 million expansion in San Luis Potosí by the end of year
German auto parts manufacturer Bosch plans to conclude at the end of this year the US$ 85 million expansion carried out since 2016 at its San Luis Potosí plant, company officials revealed to local media in recent days. According to the plant's technical vice-president, Ruediger Zeitler, this expan...
UK-based manufacturer GKN builds US$ 20-million plant in Guanajuato
UK-based manufacturer GKN, through its Powder Metallurgy subsidiary, held a ground-breaking ceremony earlier this week in the municipality of Apaseo el Grande, Guanajuato to build a new production site for its GKN Sinter Metals division.  The company plans to invest more than US$20 million in the ...

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