NEWS

For our visitors who seek the latest industry news and updates to keep abreast with the goings-on of the business on a global scale, Plant Automation Technology portal grants a dynamic and diverse feed of news items.

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Apollo Tyres on Tuesday said the company's board has given nod to raise funds of about Rs 2,000 crores towards meeting capital expenditure plans which include ramping up of two plants in South. "In order to meet capex requirements towards ongoing expansions at Chennai and Kalamassery (Kerala) plants, the Board…

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Johnson Electric Holdings Ltd said on Tuesday it would buy Ontario-based automotive engine and transmission pumps maker Stackpole International for C$867 million ($659 million) in a bid to increase its business in North America. The Hong Kong-listed electric motor maker said it was buying Stackpole from S.I. Investors, L.P. and…

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South Korea's Hyundai Motor Group said on Tuesday it would introduce a wage peak system from next year for its employees in South Korea. Under such a system, an employee's wages reach a peak and then begin to decline as retirement nears. The world's fifth-largest auto group, which includes Hyundai…

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A strike on Monday paralyzed work at a General Motors plant in Brazil and a nearby Daimler truck factory threatened job cuts as labor tensions boiled over in a slumping market. More than 4,000 workers at the GM plant outside of Sao Paulo voted to walk out indefinitely after hundreds…

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Beijing WKW Automotive Parts Says signs MOU with Faurecia (China) to set up JV on research and development, automobile accessories business.   reuters.com

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Tata Motors’ stock is a direct proxy play on Chinese macro indicators like GDP, wealth effect, disposable income and the number of license plates issued. Investors tend to view a stock that gives phenomenal returns before witnessing a sharp cut in its price as a good value proposition. However, they…

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Tata Motors Ltd has cut prices, sales and production targets at its luxury Jaguar Land Rover (JLR) arm in China, a top executive said, as it struggles with high inventories in a slowing market. Economic growth in China, the world's biggest car market, has slowed to a 25 year low…

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Brazil's auto industry is likely to recover around the middle of next year, the head of national automakers' association Anfavea said on Thursday, underscoring the depths of a crisis that has battered global carmakers' profits and triggered mass layoffs. Sales and output have tumbled by a fifth so far this…

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Mexico's auto production slid 2 percent and exports fell 2.3 percent in July compared to the same month a year earlier, the Mexican Auto Industry Association (AMIA) said on Thursday, marking their first declines this year. Mexico produced 254,312 vehicles and exported 226,511 autos in July, AMIA said. Exports to…

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Ford Motor Co and its Chinese joint ventures sold 77,100 vehicles in China in July, falling 6 percent from a year earlier, the U.S. carmaker said on Friday. That puts Ford sales in the world's largest car market down 0.7 percent for January to July compared to the same period…