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Friday, August 1st, 2014

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Welcome to Automotive NewsWire. What you will read here, daily, comes from a passion, love and respect for the automotive industry, not just today, but going back to the end of the 19th Century and into the future. We call it perspective. And thatís what we attempt to do. We put todayís automotive news into perspective. We enjoy writing it and our readers enjoy reading it.
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Today's Headlines

NYLON: Lanxess Opens Antwerp PA Facility

Wednesday, July 30th, 2014

German specialty chemicals maker Lanxess has brought a 90,000 m. tons/yr. polyamide plant on stream at Antwerp, Belgium.  The 75 million euro plant will supply compounds primarily to the automotive industry.

According to the company, the automotive industry is a key customer of its High Performance Materials (HPM) business unit.  Innovative materials from Lanxess help to build much lighter plastic parts that…

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VINYLS: Vestolit Placed Up for Sale

Wednesday, July 30th, 2014

German polyvinyl chloride producer Vestolit has been placed up for sale by parent company SVP.  Speculators say the asking price could go over $400 million.

Vestolit, of course, was part of Degussa Huels before it …

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AUTOMOTIVE COATINGS: BASF Opens Coatings Plant in China

Wednesday, July 30th, 2014

 BASF Shanghai Coatings Co., Ltd. today inaugurated its new automotive coatings plant at the Shanghai Chemical Industry Park in Shanghai, China. The expansion of its automotive coatings production capacity with an investment of around 50 million euro strengthens BASF’s presence in China and its position as a leading coatings supplier to the automotive industry.

 “BASF is the leading chemical partner for the automotive industry. This investment further signifies our commitment to our automotive customers and to supporting the dynamic growth of China’s automotive market,” said Dr…

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QUESTIONS: G.M. Recall Figures Get Scrutiny

Monday, July 28th, 2014

We called the $400 million estimate that General Motors announced last week for its cost to settle lawsuits from the ignition switch-related debacle "hogwash."

Senator Richard Blumenthal, D-Conn., used kinder words but essentially said the same thing.  Indeed, he has asked G.M. to explain how it estimates that it will spend $400 million to pay death and injury claims that have been linked to vehicles with the faulty switches.  Why didn't we think of that?

According to Blumenthal's office, he penned a letter to. G.M. CEO Mary Barra stating, "Because the compensation protocol specifically allows for up to $1 million in non-economic damages for each person killed &m…

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WAGES: G.M. Averts Korean Strike with Hefty Bonus

Monday, July 28th, 2014

General Motors' Korean unit, which has been under both union and state criticism for its plans to move production from Korea to Europe, has peacefully settled with its Korean workers avoiding a strike, the first time that's occurred in several years.

G.M. reported that it offered pa…

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MORE TROUBLE IN PARADISE: China Investigating Auto Price Fixing

Monday, July 28th, 2014

The Shanghai Daily reports today that Volkswagen's Audi unit said it would cut spare part prices in China as global automakers rush to change their pricing strategies after Chinese anti-monopoly regulators began probing the auto industry.

The National Development and Reform Commission is said to be investigating the industry amid media complaints that foreign car makers, using a dominant market position, are overcharging Chinese customers on products and spare parts.

“As a premium market leader, Audi has made the price adjustments proactively,” Audi said in an e-mailed statement over the weekend, adding that the new prices will be effective from August…

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