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Auto, Truck & Motorcycle Parts

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Superior announces tender offer for all shares of Uniwheels AG

Thursday, 23 Mar 2017 03:50am EDT

Uniwheels AG : Superior Industries International, Inc. (Superior) announces tender offer for all shares of Uniwheels AG . Superior and Uniwheels agree on business combination agreement . Superior offers a cash consideration of 235.83 zlotys ($59.47) per share in tender offer .Uniwheels Holding (Malta) has entered into an irrevocable undertaking with Superior to sell all its shares in company (representing approximately 61.29 pct of current outstanding share capital of company).

InTiCa Systems FY group sales up at EUR 44.9 mln

Thursday, 23 Mar 2017 02:30am EDT

InTiCa Systems AG : Positive outlook for business performance in 2017 . FY group sales increased 5.9% year-on-year to 44.9 million euros (2015: 42.4 million euros) . FY EBIT margin therefore increased from 1.7% to 2.3%. Group more than doubled its pre-tax profit to 0.6 million euros(2015: 0.3 million euros) . In view of good order situation, board of directors anticipates a further increase in sales and a sustained improvement in earnings situation in 2017 .FY EBIT (earnings before interest and taxes) was 1.0 million euros and thus well above prior-year level (2015: 0.7 million euros).

Akebono Brake Industry plans reorganization of three European units

Thursday, 16 Mar 2017 02:26am EDT

Akebono Brake Industry Co Ltd <7238.T> : Says co's wholly owned Belgium-based controlling company Akebono Brake Europe N.V. (AENV) will transfer entire 100 percent stake in Akebono Europe S.A.S., Akebono Europe GmbH and Akebono Brake Slovakia s.r.o. (target firms) respectively, to the company . Transaction amount is totaling 9.5 million euros (about 1.16 billion yen) . Co will own 100 percent stake in target firms directly .And the unit AENV will commence on dissolution and liquidation after divestiture of target firms.

Horizon Global sees FY 2017 earnings per share $0.46 to $0.56

Thursday, 9 Mar 2017 06:30am EST

Horizon Global Corp : Horizon Global reports financial results for the fourth quarter and full year 2016, highlighted by the transformational acquisition of Westfalia . Sees FY 2017 earnings per share $0.46 to $0.56 . Horizon Global Corp-Sees 2017 revenue growth of 30 to 35 percent . Horizon Global Corp-Sees 2017 adjusted diluted earnings per share between $0.90 and $1.00 . FY2017 earnings per share view $1.38, revenue view $842.7 million -- Thomson Reuters I/B/E/S . Horizon Global Corp qtrly net sales $183.6 million versus $121.3 million . Horizon Global Corp- "Remain focused on integration of westfalia business, with a continued expectation of realizing EUR9 million of synergies in 2017." . Horizon Global Corp - Qtrly net loss per diluted share $ 1.07 .Q4 revenue view $169.2 million -- Thomson Reuters I/B/E/S.

Steel Strips Wheels Feb total wheel rim sales of 1.2 mln

Wednesday, 1 Mar 2017 02:26am EST

Steel Strips Wheels Ltd : Says SSWL registers 5% turnover growth in february led favourable product mix of truck segment . Says total wheel rim sales of 1.2 million in feb 2017 versus 1.2 million last year . Says passenger car segment grew 6% in february 2017 yoy . Says Chennai plant expected to reach highest sales and capacity utilization in march 2017 . Says exports volumes dropped by 19% in february 2017. . Says in MCV & LHCV expect the sales growth to be in high double digit . Says co sees single digit growth falling through in domestic tractor segment going ahead .Says company is on track to achieve the 1.45 million export volume target projected for the year.

Kongsberg Automotive Q4 adjusted EBIT down 37.7 pct

Tuesday, 28 Feb 2017 02:34am EST

Kongsberg Automotive Asa : Revenues were 249.8 million euros ($264.41 million) in Q4, 1.5 million euros (0.6%) above Q4 last year . Adjusted EBIT was 7.4 mln euros in Q4, -4.5 million euros (-37.7 pct) below Q4 last year . Decided to re-organize and re-segment its businesses into three main segments - interior, powertrain & chassis products, and specialty products, starting in Q1 . Light vehicle production in 2017 is expected to grow by 1.6 pct to 93.8 million vehicles . Expects reasonable growth in all markets except south america and russia. .Says market outlook for 2017 gives reason to expect revenues to grow by 2-3 pct in 2017.

Fenix Parts posts Q2 earnings per share $ 0.07

Tuesday, 21 Feb 2017 06:53am EST

Fenix Parts Inc : Fenix Parts Inc - consolidated net revenues of fenix parts were $34.2 million for Q2 of 2016 compared to $32.2 million in Q1 . Qtrly earnings per share $ 0.07 . Q2 earnings per share view $0.02, revenue view $33.7 million -- Thomson Reuters I/B/E/S . Fenix parts - failure to file Q2, Q3 reports on timely basis, failure to comply with covenants have triggered defaults under credit facility with BMO Harris Bank . Fenix Parts - is required to reflect all of credit facility debt of about $22 million as current liability in attached balance sheet as of June 30, 2016 .Fenix Parts Inc - "company's board of directors and management continue to evaluate alternative strategies and capital structures".

Gentherm Q4 earnings per share $0.71

Tuesday, 21 Feb 2017 06:00am EST

Gentherm Inc : Gentherm reports 2016 fourth quarter and full year results . Q4 earnings per share $0.71 . Q4 revenue $236.5 million versus I/B/E/S view $237 million . Q4 earnings per share view $0.55 -- Thomson Reuters I/B/E/S . Sees FY 2017 revenue up 5 to 10 percent . Gentherm Inc - total cash as of december 31, 2016 was $177.2 million when compared with total cash of $144.5 million at December 31, 2015 . Fy2017 revenue view $981.9 million -- Thomson Reuters I/B/E/S . Gentherm Inc - organizational change will reduce annual expenses moving forward by $3.0 million .Gentherm-Expect reduction in expenses from organizational change to be more than offset by continued investments in operations.

YHI International to restructure wheel manufacturing operations in Shanghai Factory

Friday, 17 Feb 2017 06:32am EST

Yhi International Ltd : Decided to embark on a restructuring plan to consolidate its wheel manufacturing operations in its Shanghai Factory into its Suzhou Factory . In connection with restructuring, co expects its full year financial results ended 31 december 2016 to be adversely affected .Results will be adversely affected due to provisions for retrenchment compensation to workers from its Shanghai Factory.

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