Toyo comes to America
Toyo Tire & Rubber Co. Ltd. plans to build a new manufacturing plant in the U.S. for the production of passenger car and light truck tires. The new plant will be located at a site chosen from among several candidates in the eastern-half of the United States, with start-up scheduled for early 2006. A total of $150 million will be invested in the facility, which is slated for annual production of approximately 2 million passenger car and light truck tires. Once the plant becomes operational, it will initially employ approximately 350 workers.
GKN Adopts a New Name
The company will operate in North America under the name of GKN Driveline North America Inc. Known formerly as GKN Automotive Driveline, the company has 2,000 employees at eight locations in North America. Worldwide, GKN Driveline employs more than 21,000 people at 49 locations in 31 countries. It is the largest business unit within GKN plc, a U.K.-based global engineering group with annual sales of more than $8 billion.
Huck Automotive Fasteners Group Purchased
Former employees of Continental/Midland have purchased four manufacturing facilities and related assets of the Huck Automotive Fasteners Group from Alcoa Inc.
A group headed by Robert S. Kaminski and other former employees of Continental/ Midland, has purchased four manufacturing facilities and related assets of the Huck Automotive Fasteners Group from Alcoa Inc., a leading producer of primary aluminum, fabricated aluminum and alumina. Terms of the transaction were not disclosed.
The acquisition includes Continental/ Midland facilities in Park Forest, Ill., and Valparaiso, Ind., (formerly known as Midwest Fasteners), a former Jacobson Manufacturing plant in Medina, Ohio, and MSD Stamping in Livonia, Mich. Together, the plants have more than 600 employees and generated more than $100 million in revenues in 2003.
Metaldyne Expands Technical Capabilities in Plymouth, Mich.
Metaldyne has opened a 27,000 sq.ft. technical center in Plymouth, Mich., dedicated to the company’s Chassis Group. The new facility will house Chassis Group personnel including finance, human resources, product engineering, program management, quality and testing.
The new technical center will allow the Chassis Group to significantly expand its design and development capabilities by adding new testing equipment and increasing floor space. The 13,000 sq.ft. test lab will serve as the design and development center for products such as chassis suspension components, wheel-end assemblies, ball joints and control arms.
The new building is located in the same office park as the company’s Corporate Headquarters and Group Operations and Technical Center.