Transportation equipment industry
As part of its continued efforts to restructure and reorganize its business, Ford Motor Company announced today that it will distribute approximately 0.130933 shares of Visteon Corporation for every share of Ford common or Class B stock held on June 12. This move represents Ford's 100 percent
Transportation equipment industry
Plumtree Software, a leading provider of corporate portal software, has closed a $23 million mezzanine round of financing from strategic customer investors Ford and Procter & Gamble, along with institutional investors Janus Venture, Putnam, Aman Ventures, and Sybat. This significant investment follows agreements by Ford and Procter & Gamble to
Transportation equipment industry
Federal-Mogul Corporation, a leading manufacturer of automotive parts, has appointed G. Michael Lynch as its new executive vice president and chief financial officer. Lynch, a seasoned financial executive with a 29-year career at Ford Motor Company, brings extensive experience in financial management and a deep understanding of the automotive industry.
Transportation equipment industry
Visteon Corporation, a leading supplier of automotive systems, is making significant progress towards becoming an independent company. Ford Motor Company announced the record and stock distribution dates for Visteon, marking a crucial milestone in the company's journey towards independence. The distribution will occur on June 28th to Ford
Transportation equipment industry
Ford's acquisition of Land Rover from BMW for Euros 3 billion has raised concerns over the brand's competitiveness and cost position. Wolfgang Reitzle, chairman of Ford's Premier Automotive Group, has stated that the business is handicapped by productivity problems and a reliance on sterling-denominated
Transportation equipment industry
Ford Motor Company has filed preliminary proxy and registration statements with the U.S. Securities and Exchange Commission, detailing its $10 billion Value Enhancement Plan (VEP) announced on April 14. The plan includes four new distribution choices for shareholders, offering increased flexibility. The total cash distribution will be limited to
Transportation equipment industry
NASCAR's top drivers are ready to hit the track at Lowe's Motor Speedway in Concord, N.C. for the Coca-Cola 600. The lineup includes a mix of experienced veterans and young talent, each vying for position and a chance at the $1-million bonus. The top drivers
Transportation equipment industry
Sirius Satellite Radio is preparing to launch three satellites that will broadcast 100 radio stations directly to specially equipped cars across the United States. The launch marks a significant milestone in the company's efforts to bring high-quality entertainment to drivers on the go. The company's automotive
Transportation equipment industry
Negotiations between senior executives from BMW and Ford have led to an almost finalised deal for Ford to purchase Land Rover, one of the world's most renowned off-road vehicle brands, in a €3bn (£2.67bn) transaction. Under the terms of the agreement, Ford will pay €2bn upfront and
Transportation equipment industry
American Power Conversion (APCC) has announced a partnership with PeoplePC, Hewlett-Packard Company, and UUNET to provide Ford employees worldwide with a comprehensive computer solution and Internet access for a nominal fee. The initiative aims to enable Ford employees to safely access the Internet from their homes. As part of this
Transportation equipment industry
The future of Rover, a UK-based motor manufacturer, has been secured with a £10 takeover by the Phoenix Consortium, a group of Midlands businessmen. The deal, which also includes a £500m cash payment by BMW to the consortium, is expected to safeguard over 27,000 jobs at Rover's
Transportation equipment industry
As the UK government weighs its options, the consortium trying to buy MG Rover, Phoenix, is engaged in a high-stakes game of negotiations with BMW, with the outcome determining the future of the ailing car manufacturer. In a last-ditch effort, Phoenix has held talks with Honda about a potential alliance,
