plus 3, Walmart Selects Johnson Controls as Sole Source Provider for Automotive Batteries - MSN Money |
- Walmart Selects Johnson Controls as Sole Source Provider for Automotive Batteries - MSN Money
- Recall could push Toyota to tipping point - MSNBC
- Prius brakes under investigation - San Jose Mercury News
- Business Year 2009: ALTANA Noticeably Affected by the Crisis Despite ... - Stockhouse
| Walmart Selects Johnson Controls as Sole Source Provider for Automotive Batteries - MSN Money Posted: 03 Feb 2010 08:57 AM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it. MILWAUKEE, Feb. 3 /PRNewswire/ -- Johnson Controls, Inc., JCI announced today it has been selected by Walmart to be the sole source provider of its Automotive, Marine, Powersport and Lawn and Garden battery requirements for its stores in the United States and Puerto Rico. "Johnson Controls' superior quality, consistent service, partnership in reducing consumer returns, and category leadership were key factors for selecting Johnson Controls as our sole source provider," said a Walmart representative. Johnson Controls has been a Walmart supplier for more than 25 years. The company received Walmart's Supplier of the Year for Automotive this past year. "We are honored to receive this expanded business from Walmart," said Allen Martin, vice president and general manager Americas for the Power Solutions business of Johnson Controls. "We are committed to providing Walmart the highest level of quality and service, demonstrating the value we bring to all our customers in the United States and globally." About Johnson Controls Johnson Controls JCI is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 130,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/. SOURCE Johnson Controls, Inc. Copyright 2010 PR Newswire Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Recall could push Toyota to tipping point - MSNBC Posted: 04 Feb 2010 12:06 AM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it. What a difference a year makes. As the otherwise dismal 2009 got under way for the auto industry, it looked like Toyota, the new global sales leader, was in the driver's seat. But 12 months later, the hobbled Japanese giant is looking a lot more like the walking wounded. Few could have anticipated the problems that have befallen the Japanese maker, which ended 2009 with a record recall that was expanded in January, leaving millions of customers waiting for word on when they can get potentially sticky gas pedals repaired. With Toyota's reputation for building safe, reliable vehicles in tatters, competitors have taken aim, hoping to gain lost ground. Among the makers who see an opportunity to take market share from their Asian nemesis are General Motors, Ford and South Korea's Hyundai. "This is embarrassing for us having this kind of recall situation, but it doesn't mean we've lost our edge on quality," Toyota Motor Sales USA President Jim Lentz told reporters this week. He acknowledged, however, that the reputation for quality is the "cornerstone" of the brand's enviable presence in the U.S. market. Toyota on Tuesday reported a 16 percent drop in U.S. sales last month, posting its worst result in 12 years, after taking the highly unusual step of halting sales on eight models with the defective part. GM and Ford were among the brands that posted double-digit gains in January. Like every manufacturer, Toyota has had to deal with recalls over the years, but never have they been so large nor with such potentially life-threatening problems. In October, the maker announced it would recall 3.8 million vehicles due to "carpet entrapment," the possibility that loose floor mats could jam their accelerator pedals, as appeared to happen in an accident that killed a California Highway Patrol officer and three members of his family. At the time, Bob Carter, Toyota division general manager, insisted that complaints about other potential causes of so-called "unintended acceleration" were "unwarranted speculation." But the company now admits that even then it was beginning to receive credible reports that gas pedals could stick on their own. That finally led to the latest recall announced Jan. 19 and then expanded even further. Initially Toyota said the recall would affect another 2.3 million vehicles, but that number has grown to 4.5 million in recent days, while the first recall's tally has jumped to 5.3 million. Complicating matters, Toyota has taken the highly unusual step of advising dealers not to sell eight of its more popular models, which together account for about 4,000 units of volume daily. And it has idled five North American plants for at least a week until replacement parts can be shipped to the factories. GM was first to fire a salvo at its archrival, which displaced the humbled American maker as global sales king at the end of 2008. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Prius brakes under investigation - San Jose Mercury News Posted: 04 Feb 2010 12:21 AM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it. Concern over the safety of Toyota vehicles veered in a new direction Wednesday after Japanese and U.S. authorities said they are investigating more than 100 complaints of brake malfunctions in the Prius, the world's top-selling hybrid and a model sold more in California than in any other state. The reported Prius brake failures, which have caused several crashes and appear to predominantly involve the 2010 model, are another disturbing revelation for an automaker already reeling from the recall of more than 5 million cars and trucks. On top of the Prius problem, U.S. Transportation Secretary Ray LaHood testified Wednesday at a congressional hearing that owners of recalled Toyotas should "stop driving" their vehicle until they are fixed. He later called his remark "obviously a misstatement," but reiterated his concerns about Toyota and said owners should have their cars and trucks checked by a dealer. Adding to Toyota's woes, LaHood said his department had received new complaints about Toyota electronics and would undertake a broad review, looking into whether automobile engines could be disrupted by electromagnetic interference caused by power lines or other sources. Toyota has said it investigated its cars for electronic problems and failed to find a single case pointing that direction. U.S. Rep. Bart Stupak, D-Mich., chairman of the House Energy and Commerce investigative subcommittee, said Wednesday that Toyota officials would be asked to give his panel a briefing about the Prius, which has been a showcase car for the automaker. And Apple co-founder Steve Wozniak revealed Tuesday that his Prius had accelerated unintentionally, hitting 97 mph on one occasion, because of a problem he associated with the car's cruise control, an issue not subject so far to any formal recall.The seemingly ceaseless flow of bad news about Toyota has been hard to take for many of its customers, who have been drawn to the company by its reputation for quality. And the revelations have been particularly dismaying for some owners of Priuses, which have been widely hailed for their cutting-edge technology. "It's very worrisome to me," said 60-year-old Anwar Khan of Santa Clara, who said he works in the semiconductor industry and owns a 2007 Prius. Although he hasn't experienced any braking or acceleration problems with his car, he added, "I'm getting increasingly irate at the obvious blundering that Toyota is engaged in." But other Prius owners expressed confidence in the vehicle. "I just love that car," said John Coelho, 76, of Fremont, who owns a 2008 Prius that's given him no trouble. "I'm not concerned," added 59-year-old Lyn Olson of Aptos, who said she's owned Toyotas for about 15 years and has had a Prius for the past two years. "It's been such a good car so far. I've had no problems." A Toyota representative said 22 percent of all U.S. Prius sales in 2009 were in California, slightly down from 25 percent in 2008. Moreover, 36 percent of U.S. households with a Prius buy another Prius, according to the automotive market research firm R.L. Polk, which noted that the typical repurchase rate for a car model is 21 percent. Nonetheless, the Prius — which is in its third generation since being introduced in 1997 — now finds itself swept up in a growing worldwide controversy over the safety of Toyota vehicles. Although the Prius is not part of the recent 2.3 million-vehicle recall for sticky accelerator pedals, the 2004-2009 Prius was included in a separate recall issued in November for what the automaker termed "the potential risk for floor mat entrapment of accelerator pedals," a problem linked to a number of crashes, some fatal. So far, the Prius's reported brake problems have not risen to a serious-enough level to warrant a recall. However, Japan's Transport Ministry on Wednesday ordered Toyota to investigate Prius brakes because the agency had received at least 14 reports of the car's brakes malfunctioning since May. In the U.S., the National Highway Traffic Safety Administration also reportedly has compiled at least 100 reports of Prius brake problems. As a result, the agency said Wednesday that it is "conducting field work to examine the issue. If we have reason to believe there is a safety risk, we will take all necessary steps to protect consumers." Most of the braking complaints appear to involve the 2010 Prius, whose braking system is designed differently from earlier Prius models. Many drivers experiencing the problem told the federal agency that their vehicle surged forward or was hard to stop after driving over a pothole or other uneven surface. Mercury News researcher Leigh Poitinger and wire services contributed to this report. Contact Steve Johnson at 408-920-5043. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. This posting includes an audio/video/photo media file: Download Now |
| Business Year 2009: ALTANA Noticeably Affected by the Crisis Despite ... - Stockhouse Posted: 03 Feb 2010 11:02 PM PST Message from fivefilters.org: If you can, please donate to the full-text RSS service so we can continue developing it. Sales: EUR1,182 million (-12%) WESEL, Germany, Feb 04, 2010 (BUSINESS WIRE) -- --EBITDA: EUR204 million (-16%); EBITDA margin: 17.3% --Impairments of EUR77 million at ECKART Effect Pigments --Earnings before taxes (EBT): EUR39 million; net income (EAT): EUR11 million --(Note: All figures mentioned in this press release are provisional and unaudited.) The specialty chemicals Group ALTANA AG concluded the business year 2009 with noticeably lower sales and earnings figures compared to the prior year due to the effects of the economic crisis. Despite a pronounced upturn in business in the second half of the year, sales declined to EUR1,182 million, following EUR1,342 million in 2008, which is a decrease of 12%. Adjusted for positive exchange rate as well as acquisition effects, the operating sales decrease was 15%. On account of the worldwide economic crisis, sales in all regions remained below the figures of the previous year; in some regions the losses were quite pronounced. At 17%, the highest decline was recorded in Europe, followed by North and South America with a drop of 12%. The Asian region was comparatively stable, with a sales decrease of only 2% for the full year. Here, ALTANA was able to achieve significant growth rates in the second half of 2009, particularly in China. Sales development by division The BYK Additives & Instruments division achieved sales of EUR420 million in 2009, corresponding to a decrease of about 7% on the prior year. In the ECKART Effect Pigments division, sales dropped by 20% from EUR351 million in 2008 to EUR282 million in 2009. Sales in the ELANTAS Electrical Insulation division in 2009 amounted to EUR273 million; this is a decrease of 16% compared to 2008 (EUR327 million). ACTEGA Coatings & Sealants achieved sales of EUR207 million in 2009, which is only slightly below the 2008 figure (EUR214 million). EBITDA margin just under the prior year due to resolute countermeasures On account of the decline in sales, preliminary earnings before interest, taxes, depreciation and amortization (EBITDA) in the business year 2009 decreased by 16% to EUR204 million. At 17.3% (prior year: 18.1%), the EBITDA margin was down by only about 1 percentage point. This was mainly due to the immediate and comprehensively taken countermeasures to reduce costs and increase efficiency, which led to savings of about EUR55 million in the past business year. Extraordinary impairments at ECKART Effect Pigments Compared to the other divisions, the worldwide economic crisis caused the highest sales decrease in the Effect Pigments division. Here the recovery in the second half of 2009 also started at a later point in time and was less dynamic. The sluggish development in the division's important target markets, particularly the automotive industry, had a negative effect. This is why ALTANA revised its earnings forecast for Effect Pigments downwards in the course of 2009. Within the framework of impairment tests in accordance with the rules of IFRS, this adjustment leads to extraordinary impairments of property, plant and equipment and goodwill, totaling EUR77 million. This does not affect the cash flow and has no significant effect on the balance sheet structure of the Group with an unchanged high equity ratio of 69%. Irrespective of this accounting measure, the business model and the long-term prospects for Effect Pigments remain intact. Mainly due to the impairments in the Effect Pigments division, preliminary earnings before taxes (EBT) for the ALTANA Group declined by 75% from EUR159 million in the previous year to EUR39 million in 2009. Consequently, net income (EAT) was down to EUR11 million, following EUR103 million in the business year 2008. Business year 2010 marked by uncertainties "ALTANA has managed the worldwide economic crisis comparatively well, thanks to resolute countermeasures and the joint efforts and commitment of all those involved," stated Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. Now there is reason to hope for a further recovery of the world economy, which would also increasingly improve the business environment for ALTANA. Even with a further positive development, however, ALTANA would need at least until 2011 to reach the same business level as before the crisis. "For 2010, we expect an improvement over the previous year. However, we anticipate a business year with great uncertainties," said Wolfgruber, adding that ALTANA would continue to emphasize and focus on cost efficiency and, at the same time, to increase investments in growth drivers such as innovation and customer orientation.
This press release is also available on www.altana.com/press This press release contains forward-looking statements, i.e. current estimates or expectations of future events or future results. These statements are based on beliefs of ALTANA as well as assumptions made by and information currently available to ALTANA. Forward-looking statements speak only as of the date they are made. ALTANA does not intend, and does not assume any obligation, to update forward-looking statements to reflect facts, circumstances or events that have occurred or changed after such statements have been made. About ALTANA: ALTANA develops and produces high-quality innovative products in the specialty chemicals business. The ALTANA Group, with headquarters in Wesel/Germany, is a genuine "global player" with 83% of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service. ALTANA offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastic processors, the printing and cosmetic industries, and the electrical and electronic industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins & varnishes, and testing and measuring instruments. At present, the ALTANA Group has 35 production facilities and 47 service and research laboratories worldwide. Throughout the group 4,800 people work to ensure the success of ALTANA worldwide. In 2009 ALTANA achieved sales of about 1.2 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide. SOURCE: ALTANA AG ALTANA AG Corporate Communications Head of Corporate Communications Achim Struchholz, +49 281 670 2460 or Head of External and Internal Relations Sven Kremser, +49 281 670 746 or Corporate Communications Heike Dimkos, +49 281 670 792 Fax: +49 281 670-1114 press@altana.com www.altana.com/press Copyright Business Wire 2010Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. This posting includes an audio/video/photo media file: Download Now |
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