Michelin acquires 88% stake in Indonesian tire manufacturer Multistada

(adsbygoogle = window.adsbygoogle || []).push({}); French tire manufacturer Michelin has completed its previously announced acquisition of a stake of 88% in Indonesian tire manufacturer Multistrada Arah Sarana for $480 million, after securing all the required approvals. The deal was announced by Michelin in late January in a move to gain competitive More...

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By Soujanya Ravi On Sunday, March 3rd, 2019
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Saudi Aramco, Total to invest $1bn in retail fuel network in Saudi Arabia

Saudi Aramco and Total have signed a joint venture (JV) agreement to develop a retail fuel network in Saudi Arabia with an investment of about $1 billion. The 50: 50 JV plans to invest the amount over the next six More...

By businessnewstoday On Saturday, January 26th, 2019
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Hyundai Motor suffers first net loss in 8 years as China sales skid

South Korea’s Hyundai Motor surprised the market on Thursday by posting its first quarterly net loss in at least eight years as its vehicle sales slumped in the key China market. Pascale Davies reports.  More...

By businessnewstoday On Saturday, January 26th, 2019
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Renault’s newly appointed chairman Senard vows to strengthen alliance with Nissan

Senard will become chairman immediately. Deputy chief executive Thierry Bollore will take over Carlos Ghosn’s other Renault role as full CEO, as Ghosn deals with financial crime allegations in Japan. Rough More...

By businessnewstoday On Saturday, January 26th, 2019
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Subaru probe finds 3,400 staff were not paid for overtime work

Subaru said it did not pay overtime wages over a two-year period to some 3,400 employees who under-reported their hours. As Pascale Davies reports, the revelation surfaced in an internal probe following the 2016 More...

By businessnewstoday On Sunday, December 23rd, 2018
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Siemens Mobility bags €744m locomotives delivery contract from Amtrak

Siemens Mobility has bagged a contract worth €744 million from the US National Railroad Passenger Corporation (Amtrak) to design and manufacture 75 Charger diesel-electric locomotives. The 75 locomotives will More...

By Soujanya Ravi On Wednesday, November 28th, 2018
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Toyoda Gosei begins operations at new automotive parts plant in Gujarat

Toyoda Gosei Minda India (TGMIN), a subsidiary of Toyoda Gosei, a global manufacturer of automotive parts, has started operations at its new automotive parts plant, built with an investment of INR 732 million ($10.4m) More...

By businessnewstoday On Saturday, November 3rd, 2018
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Munich Motorrad opens BMW Motorrad showroom in Indore

New BMW Motorrad showroom in Indore : BMW Motorrad, the Indian subsidiary of German automobile company BMW Group, has picked Munich Motorrad as its authorized dealer partner in Indore in the Indian state of Madhya More...

By businessnewstoday On Sunday, September 2nd, 2018
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Dickinson Fleet Services acquires Truck PM Plus from Bridgestone Americas

Dickinson Fleet Services (DFS), a US-based mobile fleet service provider, has acquired Truck PM Plus, a truck and trailer maintenance provider, from tire and rubber company Bridgestone Americas for an undisclosed More...

By businessnewstoday On Tuesday, June 26th, 2018
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REV Group to launch bullet-proof REV Guardian ambulance

Auto industry news : US specialty vehicles manufacturer REV Group said that its unit REV Ambulance Group will launch a new ambulance branded as REV Guardian that ill feature inbuilt ballistic protection for paramedics More...