Volvo Global Trucks announced a reorganization in response to the depressed North American market. Volvo will close its Winnsboro, S.C., plant and consolidate North American support functions to eliminate duplication of effort between Volvo Trucks North America (VTNA) and Mack Trucks, Inc. The Winnsboro facility will be phased out and transferred to the New River Valley Va., facility -- and remain Mack-branded. Mack and VTNA will maintain two separate headquarters, each with its own management.
Gehl Co. said it will streamline operations which includes closing its manufacturing facility in Lebanon, Pa., as well as moving manufacturing of the Mustang line of skid-steer loaders from Owatonna, Minn., to its recently expanded skid-steer facility in Madison, S.D. Mustang sales and marketing personnel will remain headquartered in Owatonna, as will a transitionary engineering group. The company also said that a sale of the company at the present time is not in the best interests of the shareholders
Grove Worldwide, said that the company has consummated its plan of reorganization which was approved by the bankruptcy court on Sept. 14, 2001. Grove has, among other things, commenced payments to its pre-petition, unsecured creditors. According to the provisions of the plan, the company will pay 100 percent of allowed pre-petition claims to this class of creditors.
Advertisement
Modine Manufacturing Co., of Racine, Wis., said it will close six plants as part of a manufacturing reorganization brought about by reduced sales and an uncertain economy. The company did not specify which sites would be closed.
The members of two of the off-highway industry's major trade associations, the Equipment Manufacturers Institute (EMI) and the Construction Industry Manufacturers Assn. (CIMA) have voted to consolidate the two groups into one association. The new association will legally begin operation Jan. 1, 2002 under the Association of Equipment Manufacturers (AEM) name with organizational and administrative coordination now underway. The Chicago (EMI) and Milwaukee (CIMA) offices will continue to operate as the headquarters offices of the consolidated association.
Claas KGaA will use an estimated 2000 Caterpillar diesel engines annually in Lexion combines built in Germany under an engine supply agreement announced by the two companies. The agreement calls for Cat to supply the Tier 2/Stage II-compliant diesel engines for the German-built Lexion combines.
Impco Technologies, Inc. announced that its Engine Systems Division, Sterling Heights, Mich., has signed a sales agreement with Tecogen Inc., Waltham, Mass., to supply natural gas engine systems estimated at $4 million over the next two years. Tecogen Inc. is a manufacturer of commercial and industrial natural gas-powered air-conditioners, refrigeration products, and cogeneration systems.
Parker Hannifin Corp. said it has acquired assets associated with the global fluid management business of Dayco Industrial from Mark IV/BC Partners. With revenues last year of $304 million, the Dayco assets acquired include Imperial Eastman products and an array of hydraulic and industrial hose and connectors, as well as proprietary compounding technologies. The operations, which will be integrated into Parker's fluid connectors business, have 2365 people and 29 facilities in the United States, Canada, Australia and the United Kingdom.
Mann+Hummel, Ludwigsburg, Gemany, has signed a memorandum of understanding with Belgian company Solvay to acquire Solvay's automotive Air Induction Systems and Technical Parts activities. Solvay AIS/TP's 2001 sales are expected to be approximately $137 million in 2001 and the company has 1050 ernployees and locations in France, Germany, Spain, United Kingdom, Belgium, the U.S. and Brazil. The Solvay activities will be integrated into Mann+Hummel's Intake Manifold Systems and Air Cleaner Systems business units.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment