Germany's Mann + Hummel buys WIX filter maker Affinia Group

[kscarbel2]

Reuters / August 17, 2015

German industrial filter maker Mann + Hummel is buying U.S. peer Affinia Group to boost its annual sales by $1 billion - or by more than a third - and gain access to the American market for heavy-duty and hydraulic filters.

Privately-held Mann + Hummel said it would not disclose the terms, but a regulatory filing by Affinia showed the purchase price was $513.1 million.

The German firm will also take on debt from Affinia, which stood at $822 million at the end of June.

Automotive-parts suppliers have stepped up consolidation efforts over the past two years as many of them have cash in hand and are seeking greater size and global reach to give them more pricing power when negotiating with car and truck makers.

This is the third deal within a year in which a U.S. auto supplier has been bought by a German counterpart, following ZF's takeover of TRW and Mahle's acquisition of Delphi's air-conditioning unit.

The private equity owners of Affinia will get the proceeds from the sale of its Latin American operations, which were excluded from the acquisition.

Affinia makes oil, air, fuel, cabin air, transmission, hydraulic, and coolant filters for vehicles and machinery ranging from race cars to excavators and wind mills under the WIX, NAPA and other brand names.

Related reading - http://www.bigmacktrucks.com/index.php?/topic/39995-filters/?hl=affinia#entry291618

[kscarbel2]

Yet another example of American companies being acquired by overseas aggressors.

Once upon a time, America led the world in innovation and industrial might. But as a result of government casting a blind eye to the fast declining state of American industry, a significant portion of U.S. industry is now under foreign ownership.

In order for a major country like the United States to regain its position as a world leader, we must have a solid economy, which inherently requires a solid industrial foundation. Today, we no longer have that. Much has been allowed to go abroad, while the meager remnants remaining is being sold to foreign companies.

- Germany’s Mann+Hummel buys Affinia Group, producer of Wix, Napa and other brand filters

- Germany's ZF has acquired TRW
- Italy's Fiat owns Chrysler, Dodge and Jeep
- China's Wanxiang has acquired over 20 U.S. businesses including U.S. government-funded battery maker A123, Dana’s coupled-products business, Neapco and D&R Technology.
- Germany's Daimler acquired Freightliner, Western Star, Detroit Diesel and Thomas Built Buses
- Sweden's Volvo acquired White, Autocar, GMC heavy truck and Mack Trucks

- Germany’s Knorr-Bremse owns Bendix Commercial Vehicle Systems

- Sweden’s Haldex acquired Anchorlok and the Neway suspension control valve business

- Germany’s SAF acquired Neway air suspensions, and 5th wheel makers Holland and Simplex

- Prestolite Electric, which includes the Leece-Neville brand, was acquired by Zhongshan, China-based Broad Ocean Motor Company and Beijing-based Ophoenix Capital.

- Nexteer Automotive aka GM Global Steering Holdings LLC (formerly Delphi Steering and GM’s Saginaw Steering Division) was acquired by Chinese government-owned Pacific Century Motors

- Germany’s Mahle acquired Delphi’s automotive air conditioning division, Delphi Thermal
- Korea's Doosan owns Bobcat
- Aircraft and industrial engine maker Teledyne Continental Motors was acquired by Chinese government aircraft maker AVIC

- Canada's Bombardier acquired Learjet Corporation
- Mexico's KUO Group acquired Borg-Warner and Spicer transmissions
- Italy's Fiat thru subsidiary CNH Global owns Case-IH and New Holland
- Sweden's Volvo acquired the road construction equipment division of Ingersoll Rand
- Japan's Bridgestone owns Firestone
- France's Michelin owns Uniroyal and BF Goodrich
- China’s Beijing West Industries acquired Delphi’s brake and suspension divisions
- Netherlands-based Mittal Steel acquired (asset holder of Bethlehem Steel, LTV, Weirton Steel, Georgetown Steel and US Steel)
- Mexico's Metalsa S.A. acquired 10 Dana plants that produce structural components for chassis and body structures in light and commercial vehicles
- Germany's Siemens acquired Houston-based Dresser-Rand
- China's Shuanghui owns Smithfield Foods
- Belgium's InBev owns Anheuser-Busch
- South African Breweries (SAB) acquired Miller Brewing
- Germany's Merck KGaA acquired St. Louis-based Sigma-Aldrich
- Switzerland's Nestle owns Gerber baby foods and Purina
- Sweden's Electrolux owns the Frigidaire, Kenmore and Tappan brands
- South Korea's LG owns Zenith

- Netherlands-based Philips acquired Magnavox, Philco and Sylvania
- China's Lenovo acquired IBM's personal computing division
- Japan's Seven & I Holdings owns 7-Eleven
- The UK's InterContinental Hotels Groups owns the Holiday Inn and Crowne Plaza hotel chains, and Candlewood Suites
- China's Wanda Group owns the AMC cinema chain
- The Venezuelan government owns Citgo
- Mexico's Bimbo Group acquired Sara Lee's bakery business and the following brands: Arnold, Ball Park, Boboli, Brownberry, Cinnabon Bread, EarthGrains, Entenmann’s, Francisco, Freihofer’s, Marinela, Milton’s Bread, Mrs Bairds, Oroweat, Roman Meal, Sara Lee, Stroehmann, Sun-Maid Bread, Thomas’ and Tia Rosa.

- The British-Dutch conglomerate Unilever owns Ben & Jerrys, Vaseline, Hellmann’s, Best Foods, Ponds, Good Humor and Breyers
- Germany's Henkel owns Dial soap, Loctite, Orbseal and Bergquist
- Germany's Bayer acquired Miles Laboratories and Cutter Laboratories (including Cutter insect repellent, Alka-Seltzer, One-A-Day, Flintstones vitamins and Bactine), and the consumer care business of Merck & Co. which included the brands Claritin (allergy), Coppertone (sun care), MiraLAX (gastrointestinals), Afrin (cold) and Dr. Scholl’s.

- Bayer CropScience acquired biological company AgraQuest
- Thailand’s Thai Union Frozen Products owns Chicken of the Sea and Orion Seafood International
- South Korea’s Dongwon owns StarKist
- The UK’s Lion Capital owns Bumble Bee Foods

- Giant Carlisle (Martin's Food Markets, Ukrops), Stop & Shop and Giant-Landover supermarkets are owned by Dutch retailer Koninklijke Ahold N.V.

- Food Lion and Hannaford supermarkets are owned by Belgium-based Delhaize Group
- Colombia's Cementos Argos has acquired the cement and ready mix producing assets of Vulcan Materials and LaFarge
- UK-based Tarmac PLC acquired the cement and ready mix producing assets of Stamford, Conn.-based Lone Star Industries (for many years the largest U.S. cement maker)

- Two-wheeled electric people mover Segway has been acquired by China’s Ninebot

The list, sadly, goes on and on.

[41chevy]

CEO's CFO's and other upper Management make big dollars on the sales of those companies. All about the $$$.

On the Batteries, I believe the last count was 98% of all the batteries used in the U.S. are Chinese made. Paul

[kscarbel2]

This isn’t news to me, but it might surprise many Americans.

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Most of Buick's future U.S. cars will come from overseas

Reuters / August 18, 2015

Most Buick vehicles sold in the United States after 2016 could be imported from China and Europe.according to two sources familiar with parent GM's plans.

Only two of Buick's future U.S. models, replacements for the mid-size LaCrosse sedan and the large Enclave crossover, are expected to be built in North America.

The increasing tendency of U.S. carmakers, including Ford, to shift more vehicle production to plants outside the United States is a hot-button topic in current contract talks with the United Auto Workers.

Buick is planning to shift production of the compact Verano sedan from Michigan to China in late 2016.

Production of the mid-size Regal sedan is likely to shift from Canada to either China or Europe in 2017.

Buick is also planning to add two new U.S. models from overseas plants: The compact Cascada convertible, which will be imported early next year from Europe, and the Audi Q5-sized Envision crossover, which will be imported from China in late 2016.

One other Buick model, the subcompact Encore crossover, is currently imported from Korea. Production is eventually expected to shift to China.

Buick is planning these production shifts as GM begins contract talks in Detroit with the United Auto Workers.

In Detroit, Cindy Estrada, head of the UAW's GM department, said the automaker would be "tone deaf" to import vehicles from overseas "after the sacrifices by U.S. taxpayers," as well as union concessions, to create a profitable GM after a government-funded bailout in 2009.

The LaCrosse is being redesigned next spring, with production moving to Hamtramck outside Detroit.

The Enclave is slated to be redesigned in early 2017. Production is expected to remain in Lansing, Michigan.

China is the largest market for the Buick brand, with sales last year of 919,582 vehicles, more than four times the 228,963 vehicles that Buick sold in the United States.