Auto, Truck & Motorcycle Parts
Commercial Vehicle Group provides updates on estimated pre-tax costs for previously announced facility closures
Commercial Vehicle Group: Says will also close its administrative office in wixom, michigan, when lease expires in q3 of this year . Closure of monona facility is expected to be substantially completed by march 31, 2017 . When implemented by end 2017, cost reduction, restructuring plan seen lowering annualized operating costs by $8 million-$12 million . Affected facilities include plants located in Monona, Iowa; shadyside, Ohio; along with administrative offices in wixom, michigan . Commercial vehicle group announces facility closures in connection with restructuring plan . Plans to petition for assistance for eligible employees under department of labor trade adjustment assistance program . Says in connection with cost reduction and restructuring estimated pre tax costs of $12 to $19 million, is now lowered to $10 to $14 million .Shadyside facility has about 172 employees, closure of shadyside facility is expected to be substantially completed by june 30.
Metaldyne Performance Group Inc
Seoyon Electronics <012860.KQ> Co., Ltd.: Says it will merge with unit, STF CO.,LTD., which is mainly engaged in the manufacture and sale of auto parts business . Says merger ratio of 1:0 between the co and STF . Says expected merger effective date of Sept. 1 and registered date of Sept. 5 .STF will be dissolved after the merger.
Okamoto Glass Co Ltd <7746.T>: Says the early-retirement program offering period was changed to May 16 to June 30 .Says the previous disclosed period was May 16 to May 31.
JVC Kenwood Corp <6632.T>:Says its unit P. T. JVC Indonesia completed liquidation on May 25.
China Shipbuilding Industry Group Power Co., Ltd. <600482.SS> :Says it will transfer 100 percent stake in three units and two plots of land to its wholly-owned unit.
Okamoto Glass Co Ltd <7746.T>: Says the co to offer an early-retirement program during the period from May 16 to May 30 . Says the co expects 30 employees to take up the offer . Says the employees who take up the offer will retire on Sep. 20 .The company will provide retirement payment and outplacement support to the retiring employees.
Depo Auto Parts Industrial <6605.TW>:Says it to dissolve subsidiaries Jutemill Holdings Limited and Dometour International Limited.
NGK SPARK PLUG CO LTD <5334.T>: Says it had decided a basic policy about the structural reform of its ceramic IC package business at the Board of Directors Meeting held on May 9 . Says establishment of the new subsidiaries including new subsidiary for the Ceramic IC package business named "NTK CERAMIC CO., LTD." (New N-CERA) and new subsidiary for the Sensor business named "CS Nakatsugawa CO., LTD" (CS Nakatsugawa), planned on July 1 . Says the Ceramic IC package business will be succeeded from the Company and current NTK CERAMIC CO., LTD. (Current N-CERA) to New N-CERA, through absorption-type company split by Oct. 1 (planned) . Says the sensor business in Current N-CERA will be succeeded to CS Nakatsugawa through absorption-type company split by Oct. 1 (Planned) .Says absorbing Current N-CERA into the Company by Jan. 1, 2017 (Planned).
CASTEC KOREA CO LTD:Says its subsidiary will merge with the subsidiary's wholly owned sub-subsidiary, SUZHOU CASTEC TECHNOLOGY CO., LTD., which is engaged in compressor processing business , to improve operating efficency and create synergy.Says expected merger effective date of June 1.Says the subsidiary will survive and SUZHOU CASTEC TECHNOLOGY will be dissolved after the merger.