Magna unit to assemble Mercedes SUV

Article Abstract:

Steyr-Daimler-Puch-Fahrzeugtechnik AG & Co., a newly-acquired company of Magna International Inc., received the contract from Daimler-Benz AG to assemble the in-demand M-class sport utility vehicle beginning 1999. The contract, which could be worth around $100 million a year, calls for production of 30,000 of the vehicles for the European market. Magna purchased the unit in early 1998, but its goal of profit margins of 20-percent might not be met with Austrian-based Steyr-Daimler-Puch AG since the contract will probably yield less than 15%.

Comment:

Receives contract from Daimler-Benz AG to assemble in-demand M-class sport utility vehicle beginning 1999

Germany, Utility Vehicles, Light Truck and Utility Vehicle Manufacturing, Daimler-Benz AG, Sport utility vehicles, Steyr-Daimler-Puch Fahrzeugtechnik GmbH

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Four Canadian car plants make top 10 efficiency list

Article Abstract:

Four car assembly facilities in Canada made it to the annual list of the top 10 most efficient plants in North America. The survey by Harbour & Associates Inc. listed the Cambridge, Ontario, plant of Toyota Motor Manufacturing Canada Inc. in second place, following a plant of Nissan Motor in Smyrna, TN. The other Canadian plants that took top 10 positions are Ford Motor Co. of Canada Ltd.'s facility in St. Thomas, Ontario, placing seventh, and two General Motors of Canada Ltd. plants in Oshawa, Ontario, placing fifth and 10th in the list.

Comment:

Canada: Four car assembly facilities make it to annual list of top 10 most efficient plants in North America

Facilities & equipment, Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing

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Meridian might sell its aluminum plants

Article Abstract:

Meridian Technologies Inc., a magnesium and aluminum parts manufacturer based in Toronto, Ontario, recruited CIBC Wood Gundy Securities Inc. to study the feasibility of the sale of its aluminum auto parts operations. CIBC Wood Gundy estimated these aluminum operations, which produced $130.2 million in sales in 1997, to be worth $50 million to $70 million. Norsk Hydro Produksjon AS and Teksid SpA are just two of suitors who have indicated their intent to take over the shares of the minority stockholders of Meridian Technologies.

Comment:

Is hired by Meridian Technologies Inc. to study the feasibility of the sale of its aluminum auto parts operations

Electronic Computer Manufacturing, Securities Dealers, Investment Banking and Securities Dealing, Computers & Auxiliary Equip, Meridian Technologies Inc., CIBC Wood Gundy Securities Corp.

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