“Shinhwa’s decision to invest $42 million and create 95 jobs in Auburn is great news for Alabama,” Governor Ivey said. “Alabama has become an important player in a changing automotive industry, and Shinhwa’s plans to open its first US plant in Auburn is proof of our success.”
Alabama is home to a rapidly growing automotive cluster that produces around 1 million vehicles a year and provides an estimated 40,000 direct jobs at companies within the sector.
Shinhwa’s high-level automation and innovative solutions to technological challenges represent an important new resource for existing automotive companies in the area.
Hyundai has announced $680 million in new capital investment in its Montgomery assembly plant in the past two years. The facility boasts a large network of suppliers. (Image: Hyundai)
“The Shinhwa Group has become a leader in the aluminium die casting industry because of our willingness to overcome technical challenges,” said Kwi-Hyun Lee, CEO of the Shinhwa Group in South Korea.
“We are proud to call Auburn our new home and to serve our customers in the US”
Initially, Shinhwa will produce driveshafts for vehicles made by Hyundai Motor Manufacturing Alabama in Montgomery and Kia Motor Manufacturing Georgia, just across the state line in West Point.
Shinhwa plans expand its production in Auburn in the future to provide parts for other car manufacturers.
“We will start our US project by introducing a highly automated machining process to be followed in the near future with our die casting lines,” said Duk Keun Oh, president of the newly founded entity Shinhwa U.S. Auto Corp.
“We are grateful for our collaboration with Seohan in Auburn and see great opportunities for our growth in North America.”
Shinhwa was founded in Changwon, South Korea, in 1995, and the Auburn operation will be its first manufacturing location in the US. The company has begun construction of its new facility in the Auburn Technology Park West, and Phase 1 of the project is expected to be completed in Summer 2020.
“Companies like Shinhwa are assets to our community, ensuring that our larger region benefits from the high-tech manufacturing happening here in Auburn,” said Mayor Ron Anders.
“We are grateful for the confidence that the company’s leadership has in Auburn and look forward to the significant economic impact this project will have for our city.”
Greg Canfield, secretary of the Alabama Department of Commerce, said Shinhwa’s capabilities bring a new dimension to the state’s automotive supply chain, which has been expanding rapidly through new investment in recent years.
Employment at parts manufacturers across Alabama has nearly doubled since 2009 to 25,800 in August 2019, according to data from the St. Louis Federal Reserve Bank and the Alabama Department of Labor. The state is home to more than 150 suppliers, and the list is growing.
“Shinhwa is a welcome addition to Alabama’s network of high-calibre auto suppliers,” Secretary Canfield said. “I’m confident that Shinhwa will realise major benefits from the technical talents of Alabama’s workforce and the state’s business-friendly environment.
“Working together, I know we can build a solid future,” he added.
Aptiv has reached a definitive agreement to acquire Germany-based gabo Systemtechnik from private equity firm Bregal Unternehmerkapital for $310 million.
Based in Germany, gabocom is a leading provider of highly-engineered, high-quality cable management and protection solutions for the telecommunications industry. With approximately $100 million in revenue, gabocom further builds upon Aptiv's cable management portfolio.
"gabocom is a strong strategic fit for Aptiv and highly complementary to our HellermannTyton business," said Kevin Clark, President and CEO of Aptiv. "This transaction broadens our capabilities in the telecommunications market and expands our platform for growth in key industrial markets."
The transaction is subject to regulatory approval and other customary closing conditions and is expected to close by the end of 2019. Upon completion of the transaction, gabocom will become a part of HellermannTyton, a business unit of Aptiv's Signal and Power Solutions segment. The transaction is expected to be modestly accretive to EPS in 2020.
This shareholding includes OSRAM shares unconditionally bought by ams but does not include the shares already tendered into ams’ all-cash takeover offer for 100% of the share capital of OSRAM at €41.00 ($43) per OSRAM share (the "Best and Final Offer").
The level of 19.99% is ams’ targeted maximum direct shareholding in OSRAM which ams will not exceed for regulatory reasons prior to obtaining the required merger control and other regulatory clearances.
The Best and Final Offer expired at 24:00 CEST on October 1 and significant additional tenders are still required to achieve the minimum acceptance threshold which is necessary for the offer to be successful. All remaining OSRAM shareholders therefore need to tender their shares today to capitalise on this superior offer.
The approval is conditioned upon the sale of Aleris' plant in Duffel, Belgium, which produces aluminium for the automotive and specialties markets. Novelis is working expeditiously to market the plant to potential buyers, with the chosen counterparty and the definitive agreement for divestiture subject to European Commission approval.
With this conditional approval in the European Union, as well as a clear path forward for approval in the U.S., Novelis continues to work closely with the Chinese State Administration for Market Regulation (SAMR) to receive its approval.
"Today's announcement is another step forward in bringing Novelis and Aleris together, which will benefit our customers, employees and the aluminium industry as a whole," said Steve Fisher, President and CEO, Novelis Inc. "Overall, this transaction will strengthen our ability to compete against steel in the automotive market, meet growing customer demand for aluminium, achieve our recycling goals, and bolster our sustainability platform worldwide. In addition, it will further enhance our strategic position in Asia and diversify our overall product portfolio."
The company expects to close the transaction by January 21, 2020, the outside date under the merger agreement.
The 830,000-square foot complex is one of the most advanced tire production facilities in the industry.
The company will channel its values of safety and sustainability into making approximately four million tires per year at the factory once it reaches full capacity. At that stage, the company will employ as many as 400 workers. The factory is currently in the trial production stage and will be ready to make tires for commercial use in early 2020.
Nokian Tyres has set a goal to double its North American sales in five years.
“The grand opening of the Dayton Factory is a key milestone in our growth journey,” said Nokian Tyres President and CEO Hille Korhonen.
“Our hard-working multinational team has brought our company’s vision to life through relentless teamwork, and we’re eager to celebrate their accomplishment. The North American factory provides a premium relationship with our customers by making safe, sustainable products that are tailored to the needs of North American consumers.”
Founded and headquartered in Finland, Nokian Tyres invented the winter and all-weather tires and continues to craft premium products in all major passenger segments, including the all-season tire market, at its other facilities in Finland and Russia. At the Dayton factory, the company aims to fill expanding North American demand and seize on opportunities in the all-season and all-weather markets.
The new Dayton factory is the result of around-the-clock collaboration between North American leadership, experts from Finland and Russia, construction workers, equipment installers and an enthusiastic first set of local employees eager to make some of the safest, most sustainable tires on the continent.
Nokian Tyres will maintain strict sustainability standards at the factory to minimise waste and emissions. Solar panels will be installed in the parking lot, and the company will recycle excess materials that result from production. The solar array in the parking lot will generate 3 megawatts of electricity to be utilised at the facility. In September, the company was selected to the Dow Jones Sustainability Index for the third consecutive year. Only top 10% of the most sustainable companies in the world are included in the index.
The eco-friendly facility will build a robust mix of all-season and all-weather products to meet consumer needs and fill rising demand for its products. It will also enable the company to more efficiently deliver its products to customers. The factory will help Nokian Tyres align its global production network to meet the demands of customers in other regions, freeing up capacity to tailor products to those markets and enrich responsiveness to its customers there.
Members will work with the board to identify relevant developments and trends within the automotive industry.
In addition, members will aim to broaden Marelli's global network, helping to extend its relationships across the industry and support Marelli in achieving successful integration between Calsonic Kansei and Magneti Marelli.
"Changes within our industry cannot be underestimated," said Marelli Group CEO, Beda Bolzenius. "To stay ahead, not only do we have to make sure our business is well positioned for growth and focused on the areas that matter most to our customers, but we also have to stay close to what's happening in the broader market.
"I'm also delighted Bernd Bohr has agreed to join as the first formal member of the Marelli Advisory Board. Dr Bohr has extensive experience within the industry. This, combined with his global network, will be a tremendous support for Marelli."
For more than twenty years Aludyne has manufactured aluminium and iron cast vehicle components for safety critical applications, including chassis, subframe, and electric vehicles. The company is introducing this name as a reflection of its evolution and the trajectory of the mobility industry. As the industry changes and requires lighter and safer vehicle components, Aludyne more closely embodies the work currently being done by the company and the future of its business.
"Our company has always been committed to evolving with our customers and their needs. As we look to the future, we wanted a name to demonstrate our expertise and role in the mobility industry," Andreas Weller, president and CEO said. "Aludyne expresses our lightweighting knowledge and dynamic approach to manufacturing."
With more than 25 strategically located facilities across nine countries, Aludyne can efficiently meet local and regional demands. Through this network, Aludyne enables lighter weight vehicles that improve fuel economy, reduce emissions, and help lower carbon footprints. This presence has led to Aludyne becoming one of the largest aluminium subframe producers in Europe and the world's largest supplier of aluminium steering knuckles.
"As the company matured, our capabilities diversified and we shifted to a more solutions-based operation. Aludyne is ready to deliver innovative solutions to complex mobility problems," Weller said.
This is another step in the company's evolution. Earlier in 2019, the company announced a new sales and engineering office in Munich, Germany and is currently launching new plants in Suzhou, China and Ostrava, Czech Republic.
The company, which has been operating independently since January 2019, is now rolling out its new brand identity at its approximately 50 locations worldwide.
Starting point is the headquarter of Vitesco Technologies at Siemensstrasse in Regensburg. There, the new logo, with its high recognition value, is clearly visible from the roof. The external appearance is completed by a modern new website as well as a social media presence on various platforms worldwide.
“Our goal is clean and sustainable mobility. That’s why we make the core of every vehicle – the drivetrain – smart and electric. I am very pleased about our new dynamic brand identity. It underlines our clear claim to leadership in clean drives, today and in the future,” said Andreas Wolf, Chief Executive Officer (CEO) of Vitesco Technologies.
With Vitesco Technologies’ autonomy, Continental is reacting to the rapidly changing requirements for vehicle drives affected by radical change. In part the drastic reduction of emissions is at the top of the political and social agenda around the world. Depending on the region, this development progresses at different speeds.
“Flexibility is the order of the day. From a global perspective, all types of drivetrains are in demand. Our mission is to make them all clean, efficient, and affordable. This can be done through consistent electrification. As an independent company we can now respond more quickly and efficiently to the demands of our industry, and better leverage our strengths,” Wolf said. We want to play a leading part in the electrification of the drivetrain.”
“Vitesco” derives from Latin “vita” (life). It represents energy, speed, and agility. The addition “Technologies” reinforces the claim as a provider of innovative, pioneering technologies, systems, and services for sustainable mobility. With its flowing shapes, the “Vitesco” logo also stands for passion, dynamism and movement. It represents the counterpart to the “Technologies” addition.
The drivetrain business is currently undergoing the greatest change of all time, but with an estimated 50% share of electric and hybrid vehicles by 2030, it offers great opportunities in the field of electromobility. In particular, the mild hybridisation of combustion engines will be of enormous importance in the coming years.
Vitesco Technologies has developed broad and comprehensive know-how in the drive sector over decades. This also applies particularly to the rapidly growing electromobility market. Vitesco Technologies is already one of the few system providers able to supply complete electrification from a single source. The portfolio includes innovative and efficient technologies for 48-volt electrification, electric engines, as well as performance electronics for hybrid engines and purely battery-powered vehicles. The competencies developed over decades continue to be part of the core business: electronics, sensors, and actuators. They will continue to be indispensable in all future scenarios of the drivetrain.
In October 2018 Andreas Wolf took over the leadership of the powertrain division – which is Vitesco Technologies today. Previously, Wolf led Continental’s Body & Security business unit. This division tripled its turnover and doubled its margins under his leadership. The two other Vitesco Technologies managing directors, Finance Director Werner Volz (Chief Finance Officer, CFO) and Personnel Director Ingo Holstein (Chief Human Relations Officer, CHRO) both held leading positions at Continental for a long time.
State of Indiana Governor Eric Holcomb, Secretary of Commerce Jim Schellinger, Greenfield Mayor Chuck Fewell, and executives from BWI Group celebrated the company’s Grand Opening of its newest manufacturing plant in Greenfield. This location is the second plant in BWI’s North American footprint but first in the United States. The new location will bring BWI closer to its US customers, ensuring better service from a logistical standpoint and improving efficiencies.
“It ultimately came down to geographic location, driven by where our customers and suppliers are, which are primarily in the Midwest,” said Tom Gold, vice president of operations for BWI. “Greenfield was also an excellent choice because of the competitive advantage it provides.”
BWI’s new Indiana operation is expected to create up to 441 new, high-wage jobs by the end of 2021. The number of employees with diverse skills and expertise levels will approach 200 people by the end of this year. For this to happen, the company plans to collaborate with Ivy Tech Community College of Indiana, which is the largest single-accredited community college in the nation, to help develop workforce training programs, equipping students with the skills needed to fulfil the positions. It’s obvious BWI presence will impact the local employment environment and make it even more vibrant.
The 276,000-square-foot facility at Greenfield’s Progress Park is the third plant erected over the time BWI has operated in the global automotive market, after the Fangshan, China plant in 2009 and the Cheb, Czech Republic plant in 2016. Each of them is very much focused on digitalisation and Industry 4.0 principles, in order to remain competitive and deliver products of the highest quality to customers. Even so, “The Greenfield operation will be BWI’s most automated and high-tech plant, “says Gold.
The new Indiana plant will be full-service facility manufacturing all type of suspension systems that BWI Group offers including MagneRide®, a unique magneto-rheological suspension damping technology very well known within the automotive industry and appreciated by many premium car manufacturers all over the globe. With expected growth, the facility in Greenfield will increase its production through new developments that will enrich the company portfolio year by year.
Mando has operated R&D centre in Frankfurt since 2010. The newly-built, 12,000m2 R&D centre is equipped with cutting edge test facilities and will employ over 120 R&D personnel. Mando's European R&D currently plays a pivotal role in development of innovative, future car technologies including autonomous driving, electric vehicles, and advanced chassis products. Feigel Hans-Jörberg holds the leading role for the top-calibre workforce of specialists working on such advanced technologies as Integrated Dynamic Brakes (IDB).
Mando announced it will continue to expand customer-focused global R&D investments in order to secure core technology for future automobiles and solidify its position as a leading supplier in the global automotive market.
Mando CEO Mong-won Chung stated "while the global auto industry is going through a difficult period, Mando will continue its growth through the pioneering spirit demonstrated in Europe," and "Mando's R&D capabilities and technological leadership will blossom here in the birthplace of autos."
Mando's relationship with Europe began in 1989 with winter tests in Sweden. Mando opened its Frankfurt office back in 1996 and since then has launched headquarters in Germany, production sites in Poland and Turkey, and two R&D centres in Germany as it continues to challenge and grow in the European market.
Mando secured its first European contract from GM-Opel in 1997 and has now expanded business relationships with most European automakers including BMW, Volkswagen, Volvo, Peugeot, and Citroën.
Mando has shown continued efforts in expanding their global R&D capabilities, now having R&D presence in Korea, Germany, US, and India, and maintains R&D expense in excess of 5% of sales.
Mando is a global auto parts company specialising in design and production of brake, steering, suspension, and ADAS parts while holding the highest level of independent technology in autonomous driving amongst global auto parts makers.
The plant, which employs 858 individuals, has been in operation since 1971.
The Bamberg site mainly manufactures Premium 16-inch passenger car tires, a market segment that is characterised by both a sharp decline in global demand and extremely strong competition from Asian manufacturers. Since 2013, the Michelin Group has invested €60 million ($65.5 million) to address this market development and gradually adapt the site’s production. However, these efforts, combined with the commitment of the teams, can no longer compensate for the structural transformation of the passenger car tyre market in Europe. No economically viable industrial alternative is possible in this context.
This decision comes after a consultation phase with the works council in accordance with German legislation.
The priority of the Michelin Group is now to provide the employees of the factory and the Bamberg region with the most effective support possible to enable them to face the consequences of this difficult decision.
Michelin will implement a complete and personalised support program for each of the factory’s employees, including, in particular, the use of a transfer company, assistance for retirement as well as internal and external mobility. Negotiations with labour organisations will take place to define how these measures will be implemented.
Michelin is deeply committed to the dynamism of the communities that host its activities. As such, the Group commits to setting up an innovative revitalisation program to transform the site. This project, developed in partnership with local public and economic stakeholders, will have to take into account, and be part of, the region’s development priorities.
To finance this operation, the Michelin Group will record a provision of approximately €167 million in non-recurring expenses in its consolidated financial statements as of December 31, 2019.
Located at the Banbury headquarters of the world leading motorsport and advanced technology business, the purpose-built facility represents a £5 million ($6.15 million) investment and was constructed over a period of six months. Its installation reinforces Prodrive’s ability to develop the next generation of electric, hybrid and internal combustion engines for road and competition applications, while also strengthening the expertise and services that it offers existing motorsport and technology clients.
Core to the new Powertrain Development Centre is a 660 kW transient dyno, one of the most powerful of its kind in the UK, which with temperature, humidity and pressure-controlled induction air can replicate all running conditions, while also providing cooling for engines and electric vehicle (EV) batteries and motors. The ability to simulate exact running conditions means the dyno is particularly suited to durability and performance testing, as well as emission simulation and development.
Able to handle engine outputs of up to 880hp, the dyno is located on an easily-adjustable, modular grid system. This ensures that Prodrive can efficiently tailor it to the layout of any powertrain including the ability to test a full four-wheel-drive electric/hybrid drivetrain.
Complementing the transient dyno cell is a dedicated engine build room, fitted out by Dura, which can accommodate the assembly of up to 12 units. This capability, coupled with the PDC being adjacent to the main workshop, enhances Prodrive’s ability to build complete vehicles and cater for niche OEM projects requiring circa 200-300 units in short timeframes. Should demand dictate, there is scope to double the size of the PDC. Prodrive has future-proofed the facility with the potential to add another identical dyno and engine build room, all without extending the existing building.
The creation of the PDC has been supported by OxLEP (Oxford Local Enterprise Partnership) via the government’s Local Growth Fund. The official backing recognises the relationship that Prodrive has established with the local community, being one of the region’s largest and most high-profile employers. The launch of the PDC is expected to support 25 jobs in the area.
Arthur Shaw, Chief Powertrain Engineer at Prodrive, said: “The PDC marks a massive step forward in terms of our engine development capability and complements our existing skills in the design and development of all types of powertrain. The high specification of our new dyno means we are in the best position to calibrate units, allowing our customers to enjoy potential savings in terms of cost and time in comparison to physical testing on the road or track. Additionally, with the new facility bringing the differing stages of our powertrain development all under one roof – spanning the build of the engine right through to its installation in a chassis – there are further efficiency benefits that can be passed on to customers.”
“It’s one of the biggest investments that Prodrive has ever made, but with our motorsport operations continuing to grow at a pace and increasing enquiries for the development of complex electric vehicle and hybrid technology, now is the optimum time for us to introduce our Powertrain Development Centre. The significant expenditure underlines how committed we are to developing future powertrains and enhancing our service, enabling us to offer clients one of the most advanced facilities of its kind in the UK,” he continued.