Saab Cars USA likely will fail to meet goal

Article Abstract:

Saab Cars USA Inc is no longer expected to reach its target of 35,000 car sales for 1998, because of delays in production of the V-6 model 1999 Saab 9-5 sedan. Saab USA Pres Joel K. Manby said noise-refinement problems on the V-6 have been solved, and expressed hopes of selling 2000 of the V-6 sedans by the end of the year. Manby estimated 1998 sales at 32,000, a 12% gain over 1997. Because of pent-up demand, Manby expects 1999 sales to rise to 39,000 if Saab's new wagon is available by the middle of the year.

Comment:

Is not expected to sell its target 35,000 cars due to delays in the V-6 model 1999 Saab 9-5 sedan

Sales & consumption, Autos & Motor Vehicles Whsle, Automobile and Other Motor Vehicle Wholesalers, Company Data, Automotive wholesalers, Saab Cars USA Inc., Article

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Dana Corp. to buy bearings producer for $430 million

Article Abstract:

Toledo-based Dana Corp. paid $430 million for the bearing operations being sold by Michigan-based Federal-Mogul Corp., a part of its T&N acquisition of last spring. Dana Corp. will now be a leading global supplier of engine bearings as a result. A good fit for Dana with its engine business, the sale allows Federal-Mogul to move forward as well. Both firms have been in an acquisition and growth mode for over a year.

Asset sales & divestitures, Acquisitions & mergers, Motor vehicle parts and accessories, Gasoline Engine and Engine Parts Manufacturing, Auto Engine Bearings, Automobile equipment and supplies industry, Automotive parts industry, Mergers, acquisitions and divestments, Abstract, Dana Corp., DCN, Federal-Mogul Corp., FMO, Engine bearings

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