ArvinMeritor Inc. (DE:ARM) said Tuesday that it plans to spin off its automotive parts unit into a separate stand-alone entity, a move that will allow the company to focus on the commercial truck market while severing the very merger that created it almost eight years ago. The new company, to be named Arvin Innovation...
Dana Holding Corp. (USAN) said Wednesday that it named James A. Yost, 59 years old, executive vice president and chief financial officer, effective May 22, succeeding Kenneth A. Hiltz, who held the post during a Chapter 11 reorganization. Separately, Hayes Lemmerz International Inc. said Yost resigned as executive vice...
Dorman Products Inc. (US:dorm) said that third-quarter net income fell to $5.0 million, or 28 cents a share, from $5.7 million, or 31 cents a share, at the same point last year. Analysts had been expecting earnings per share of 28 cents, according to data compiled by FactSet. Revenue at the automotive parts supplier climbed...
Dow Chemical Co. and Petrochemical Industries Co. reaffirmed their commitment to a joint venture deal on Monday, easing investor concerns that Dow wouldn't have the cash it needs to complete its pending acquisition of Rohm & Haas. The 50-50 joint company, K-Dow, is expected to begin operations no later than Jan. 1 and...
Ford Motor Co., (US:f) the Dearborn, Mich., auto producer, said it added several utility-company and state-agency partners to its testing program to help bring its plug-in hybrid electric vehicles to market faster. And Ford said in a statement on Tuesday that it partnered as well with Johnson Controls, (US:jci) the Milwaukee...
AN) said Wednesday that it named James A. Yost, 59 years old, executive vice president and chief financial officer, effective May 22, succeeding Kenneth A. Hiltz, who held the post during a Chapter 11 reorganization. Separately, Hayes Lemmerz International Inc. said Yost resigned as executive vice...
