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Read the Latest Issue of Morgan Lewis Automotive
Q1 / 2017 This is the 11th issue of our newsletter on developments in the automotive industry, published by Morgan Lewis’s automotive team with contributions from around the globe by leveraging the experience of lawyers in our 30 offices. We counsel our automotive clients on a broad range of industry- specific matters, including mergers and acquisitions, antitrust, litigation, regulatory concerns, intellectual property, and labor and employment. This issue of Morgan Lewis AUTOMOTIVE, which covers the first quarter of 2017, touches on topics relating to self-driving cars, proposed regulations for diesel-engine vehicles, and other developments in the global automotive markets. All issues of Morgan Lewis AUTOMOTIVE are available at www.morganlewis.com. IN THIS ISSUE Mergers & Acquisitions: PSA Group to acquire Opel from GM; Intel to acquire Mobileye for $15 billion; Tata and Volkswagen to cooperate in India; GM and Honda to jointly manufacture components of fuel cell systems; Toyota and Ford to cooperate on open software standards for the interaction between smartphones and vehicles; Audi to acquire Silvercar; ZF acquires stake in Astyx Communications & Sensors; Sumitomo Rubber to acquire UK tire distributor Micheldever; Intel and NavInfo to acquire minority shareholdings in HERE; Panasonic to acquire an additional stake in Ficosa International SA; and Japanese JTEKT Corporation to acquire stake in Sona Koya Steering Systems. Antitrust: China’s National Development and Reform Commission (NDRC) to increase antitrust enforcement efforts in 2017; European Commission fines The contents of Morgan Lewis AUTOMOTIVE are provided for car air-conditioning and engine-cooling cartel; Japanese executive pleads your convenience and do not guilty to obstructing justice; Kieckert to plead guilty for bid-rigging in auto constitute legal advice or create an attorney-client relationship. -
Sixth Status Report of the Special Master
UNITED STATES DISTRICT COURT EASTERN DISTRICT OF MICHIGAN SOUTHERN DIVISION ) UNITED STATES OF AMERICA, ) Plaintiff ) Case No. 16-CR-20810-04 ) v. ) Honorable George Caram Steeh ) TAKATA CORPORATION, ) Defendant. ) SIXTH STATUS REPORT OF THE SPECIAL MASTER 1. Eric D. Green, the court-appointed Special Master for the custody, administration and distribution of the Takata Airbag Restitution Funds, hereby respectfully submits his Sixth Status Report pursuant to paragraph 4 of this Court’s Appointment Order.1 The Status Report provides an overview of the Special Master’s work from May 24, 2018 through July 30, 2018 (the “Reporting Period”) and anticipated future efforts. I. ACTIVITIES IN THE REPORTING PERIOD. A. LAUNCHING THE NOTICE PROGRAM AND COMMENCING THE RECEIPT OF CLAIMS FOR COMPENSATION FROM THE $125 MILLION INDIVIDUAL RESTITUTION FUND AND THE TATCTF. 2. In the prior reporting period, the Special Master worked to develop a streamlined process for the submission of claims to the Individual Restitution Fund 1 Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Fifth Status Report of the Special Master, dated May 23, 2018 [Doc. 91]. 1 and the Takata Airbag Tort Compensation Trust Fund (“TATCTF”).2 On May 29, 2018, the Special Master sought and obtained this Court’s approval of the following: the Notice Program (described below); the Personal Injury Claim Form; the Wrongful Death Claim Form; the lists of required supporting documentation; the Notice of Claim Form, which enables claimants to timely file but defer consideration of their claim; and the HIPAA release.3 The Special Master also sought and obtained this Court’s approval of a revision to the Individual Restitution Fund methodology to define “Current Claims” as claims filed within ninety days after the launch of the Notice Program (rather than claims filed within ninety days of the Effective Date of the Plan in the U.S. -
Branchenprofil Automotive.Pdf
BRANCHENPROFIL - Automotive - Die Region Die Region Heilbronn-Franken ist mit 4.765 km² flächenmäßig die größte Region des Landes Baden-Württemberg und zählt ca. 900.000 Einwohner. Heilbronn-Franken ist Teil der Europäischen Metropolregion Stuttgart und fungiert als einer ihrer Motoren. Die Wirtschaftsstruktur in Heilbronn-Franken ist überdurchschnittlich stark vom Verarbeitenden Gewerbe und damit durch eine hohe Industriedichte geprägt. Nichtsdestotrotz trägt der Dienstleistungssektor und dabei speziell die unternehmensnahen Dienstleistungen mehr als die Hälfte zum Bruttoinlandsprodukt bei. Im Hinblick auf die Branchenvielfalt ist die Wirtschaft in Heilbronn-Franken sehr breit aufgestellt. Gemessen an der Einwohnerzahl weist die Region bundesweit die höchste Dichte an Weltmarktführern auf. Dies steht für Innovation, Internationalität und Stabilität. Denn in der überwiegenden Anzahl gehören die rund 80.000 Unternehmen der Region zu den Familienunternehmen und weisen darüber hinaus sehr häufig mittelständische Strukturen auf. In den Kernbranchen der Region haben sich über die Jahrzehnte hinweg zahlreiche Clusteransätze entwickelt, die ein breites Arbeitsplatzangebot für Sie bereithalten. Was kennzeichnet diesen Branchenschwerpunkt? - Schlüsselbranche im Stadt- und Landkreis Heilbronn - Mehr als 26.000 Beschäftigte direkt in den Unternehmen der Automobilindustrie - Zusätzlich mehrere tausend Beschäftigte mit Bezug zur Automobilbranche (Elektronikhersteller, Ingenieurdienstleister, Softwarehäuser, etc.) - Die gesamte Automotive-Wertschöpfungskette -
Schaeffler Annual Report 2018
Annual Report 2018 Mobility for tomorrow Staying in motion Company profile The SCHAEFFLER Group is a global automotive and industrial supplier. Top quality, outstanding technology, and exceptionally innovative spirit form the basis for the continued success of the company. By delivering high-precision components and systems in engine, transmission, and chassis applications, as well as rolling and plain bearing solutions for a large number of industrial applications, the Schaeffler Group is already shaping “Mobility for tomorrow” to a significant degree. Schaeffler Group at a glance Key figures Income statement (in € millions) 2018 2017 Change Revenue 14,241 14,021 1.6 % • at constant currency 3.9 % EBIT 1,354 1,528 -11.4 % • in % of revenue 9.5 10.9 -1.4 %-pts. EBIT before special items 1) 1,381 1,584 -12.8 % • in % of revenue 9.7 11.3 -1.6 %-pts. Net income 2) 881 980 -10.1 % Earnings per common non-voting share (basic/diluted, in €) 1.33 1.48 -10.1 % Statement of financial position (in € millions) 12/31/2018 12/31/2017 Change Total assets 12,362 11,537 7.2 % Shareholders’ equity 3) 4) 3,060 2,581 479 € millions • in % of total assets 24.8 22.4 2.4 %-pts. Net financial debt 2,547 2,370 7.5 % • Net financial debt to EBITDA ratio before special items 1) 1.2 1.0 • Gearing Ratio (Net financial debt to shareholders’ equity 3), in %) 83.2 91.8 -8.6 %-pts. Statement of cash flows (in € millions) 2018 2017 Change EBITDA 2,175 2,295 -5.2 % Cash flows from operating activities 1,606 1,778 -172 € millions Capital expenditures (capex) 5) 1,232 1,273 -41 € millions • in % of revenue (capex ratio) 8.7 9.1 -0.4 %-pts. -
FUTURE MOBILITY EUROPE an Automotive World Virtual Summit Sponsorship Pack
13-14 July 2021 Virtual Summit FUTURE MOBILITY EUROPE An Automotive World Virtual Summit Sponsorship Pack We're taking our two-day Future Mobility Europe conference online for 2021. Free tickets are available to automakers and Automotive World members. 500+ delegates 50+ speakers An Automotive World event Sponsorship Opportunities Headline Sponsor £4,950 Exclusive billing as ‘Headline Sponsor’ Logo in the most prominent position on the virtual summit website and all promotional materials 30-minute ‘Deep Dive’ presentation opportunity Executive speaking opportunity on one of our expert panels Delegate report for the sessions in which your experts participate Ten delegate passes Executive interview (minimum 750 words) created by our in- house editorial team and published on AutomotiveWorld.com 2 FUTURE MOBILITY EUROPE Sponsorship Opportunities Sponsor £3,250 Billing as 'Sponsor' on the virtual summit website and all promotional materials 30-minute 'Deep Dive' presentation opportunity Delegate report for the session in which your expert participates Five delegate passes “ The keynotes, panel discussions, location and overall format were all very good. Thank you! ” Technical Market Analyst, Magna An Automotive World event Which topics do we cover? • The autonomous vehicle – when, where, how and for whom? • Autonomous vehicle perception systems • Autonomous vehicle testing • Autonomous vehicle software • AI and the autonomous vehicle • How safe is the autonomous vehicle? • How do you monetize connected vehicle data? • Connected vehicle data -
Occupant Safety Systems Supplied to Japanese Car Manufacturers
EUROPEAN COMMISSION Competition DG CASE AT. AT.39881 – Occupant Safety Systems supplied to Japanese Car Manufacturers (Only the English text is authentic) CARTEL PROCEDURE Council Regulation (EC) 1/2003 Article 7 Regulation (EC) 1/2003 Date: 22/11/2017 This text is made available for information purposes only. A summary of this decision is published in all EU languages in the Official Journal of the European Union. Parts of this text have been edited to ensure that confidential information is not disclosed. Those parts are replaced by a non-confidential summary in square brackets or are shown as […]. EN EN EUROPEAN COMMISSION Brussels, 22.11.2017 C(2017) 7670 final COMMISSION DECISION of 22.11.2017 relating to proceedings under Article 101 of the Treaty on the Functioning of the European Union and Article 53 of the EEA Agreement (AT.39881 – Occupant Safety Systems supplied to Japanese Car Manufacturers) (Only the English text is authentic) EN EN TABLE OF CONTENTS 1. INTRODUCTION ....................................................................................................... 6 2. THE INDUSTRY SUBJECT TO THE PROCEEDINGS IN THIS DECISION ........ 6 2.1. The products ...................................................................................................... 6 2.2. Undertakings subject to the proceedings ........................................................... 7 2.2.1. TOKAI RIKA ...................................................................................... 7 2.2.2. TAKATA ............................................................................................ -
Takata: the Unfortunate Recall
US COLUmN Takata: The unfortunate recall David Conaway reports on the global effects of a major product recall, and the subsequent innovative application of the Section 363 auction The tragedy concerned about the risks of airbag for Takata will impact its working explosions in older Honda vehicles capital requirements and pressure Takata Corporation is a Japanese- made from 2001 to 2003. The U.S. its lenders and investors to cover based company that manufactures Government will emerge as a this additional cost. The scope and safety products, primarily airbags material stakeholder, with Takata ultimate loss for the class action and seat belts, as a tier one supplier currently operating under a five- lawsuits will not be known for some to the global auto industry. year, $200 million consent decree time. As with mass tort lawsuits Unfortunately, due to alleged with the NHTSA. generally, the number of plaintiffs is defective airbags produced, Takata In addition to the $12 billion of increasing as losses continue to has recalled reportedly 122 million airbag replacement liabilities, occur and there will be future airbags globally, with a projected Takata reported it has sustained a plaintiffs. Ultimately, there will be cost of $12 billion. cash operating loss of over $500 pressure to create a dedicated fund, DAVID H. CONAWAy Takata’s airbag recall is tragic Shumaker, Loop & Kendrick million since the inception of the or source of funds, to address these LLP (USA) because the airbags are allegedly recall in 2013. Moreover, Takata is losses over an extended period of responsible for over 15 deaths and facing civil and criminal fines and time. -
Attorney General Balderas Sues Takata & 15 Automakers Over Dangerous Airbags
FOR IMMEDIATE RELEASE: Contact: James Hallinan January 24, 2017 (505) 660-2216 Attorney General Balderas Sues Takata & 15 Automakers over Dangerous Airbags To date, known Takata airbag IR incidents have injured over 180 people and killed at least 11 in the United States alone Santa Fe, NM – Today, New Mexico Attorney General Hector Balderas announced that he filed a lawsuit this week against Japanese airbag manufacturer Takata and 15 automakers over dangerous and defective airbags that function as fragmentation grenades. Hundreds of thousands of which were installed in cars sold or offered for sale in the State of New Mexico. The lawsuit was filed in the First Judicial District Court in Santa Fe, New Mexico, and it names Takata, Honda, Ford, Toyota, BMW, Mazda, Subaru, Mitsubishi, Nissan, FCA, Volkswagen, Audi, Ferrari, General Motors, Jaguar, and Mercedes-Benz. Attorney General Balderas alleges that the parties knew about, and misrepresented, the existence and extent of the defective airbags, and tried to conceal the defect until the National Highway Traffic Safety Administration (NHTSA) and Congress exposed the full extent of the defective airbags. “In New Mexico, no child should ever be put in danger so international corporations can reap enormous profits,” Attorney General Balderas said. “New Mexico families’ health and safety have been put at dangerous risk by Takata and the automakers, and we will hold them accountable. Corporations who harm New Mexicans will pay for their actions no matter their size or location around the world.” Takata’s airbag systems are installed in millions of vehicles, including vehicles manufactured by the defendant automakers. -
Superior Court
SUPERIOR COURT CANADA PROVINCE OF QUEBEC DISTRICT OF MONTREAL No : 500-06-000723-144 DATE: October 2, 2019 BY THE HONOURABLE SUZANNE COURCHESNE, J.S.C. ELENI VITORATOS and ANDREA FREY Petitioners V. TAKATA CORPORATION and TK HOLDINGS, INC. and HIGHLAND INDUSTRIES, INC. and HONDA CANADA INC. and HONDA MOTOR CO., LTD. and TOYOTA CANADA INC. and TOYOTA MOTOR CORPORATION and TOYOTA MOTOR ENGINEERING & MANUFACTURING NORTH AMERICA, INC. and SUBARU CANADA INC. and FUJI HEAVY INDUSTRIES, LTD. 500-06-000723-144 PAGE:2 and BMW CANADA INC./BMW GROUP CANADA and BMW OF NORTH AMERICAN, LLC and BMW MANUFACTURING CO. LLC and BMW AG and NISSAN CANADA INC. and NISSAN NORTH AMERICA INC. and NISSAN MOTOR CO. LTD. and MAZDA CANADA INC. and MAZDA MOTOR CORPORATION and FORD MOTOR COMPANY OF CANADA LIMITED and FORD MOTOR COMPANY and GENERAL MOTORS OF CANADA LIMITED and GENERAL MOTORS CORPORATION and CHRYSLER CANADA INC. and FCA US LLC and MITSUBISHI CANADA LIMITED and MITSUBISHI INTERNATIONAL CORPORATION Respondents JUDGMENT (partial discontinuance) JC0BM5 500-06-000723-144 PAGE:3 [1] On December 5, 2014, the Petitioners filed a Motion to Authorize the Bringing of a Class Action and to Ascribe the Status of Representative on behalf of the following group: "All persons, entities or organizations resident in Canada who purchased and/or leased one or more of the Defective Vehicles that contain(s) airbags manufactured by Takata, or any other group to be determined by the Court; Alternately (or as a subclass) all persons, entities or organizations resident in Quebec who purchased and/or leased one or more of the Defective Vehicles that contain(s) airbags manufactured by Takata, or any other group to be determined by the Court;" [2] Thereafter, the Motion for Authorization was amended 4 times, the most recent Fourth Amended Motion for Authorization having been filed on June 28, 2017. -
Making a Beeline for Unterlüss
The magazine of Rheinmetall Automotive ISSUE 02/2019 TRUSTWORTHY SUPPLY CHAINS When profitability and CSR work in tandem FULL THROTTLE INTO THE ENERGY TRANSITION Pistons for eco-friendly gas-engine power plants booming // MAKING A BEELINE FOR UNTERLÜSS Heather honey is a delicacy much in demand EDITORIAL/CONTENTS 10 FULL THROTTLE EVENTFUL TIMES INTO THE ENERGY The IAA 2019 in Frankfurt is just TURNAROUND around the corner, and this in quite stormy times for the automobile Large-bore pistons from industry. More than ever, the focus is Rheinmetall Automotive also on climate change and hence also CO 2 ensure highly efficient production emissions from vehicles. The Fridays in gas-fired power plants. for Future movement is making the headlines and putting massive pres- sure on politics, business, and society. The wind of change is not just blowing, it is raging in all areas of daily life. So, in this issue of Heartbeat, we will not only deal with the usual topics such as cutting consumption and emis- sions and our contribution. This time, for example, it is also about a power plant that is highly efficient and clean thanks to our piston technology. It’s about hydrogen powertrains, bicycles, e-mobility, drones and (in fact) bees. Read on to find out how all this is interrelated. Enjoy! THE WILD WORLD HIGHLIGHTS OF ENGINES 8 Peter Hartung Head of Corporate Communications 4 Latest news from Rheinmetall Automotive Rheinmetall Automotive AG Viking style rally Spectacular stunts at the Icelandic Formula Offroad FOCUS // IMPRINT Published by: Rheinmetall Automotive AG, Karl-Schmidt- 10 Straße 2–8, 74172 Neckarsulm, Germany www.rheinmetall-automotive.com Full throttle into the energy Responsible: Peter Hartung, Folke Heyer; Edited by: Richard transition Backhaus, Folke Heyer, Sabine Höfler, Dr. -
Annual Report Rheinmetall Ag
Annual Report Rheinmetall ag 2012 Rheinmetall in figures Rheinmetall Group indicators 2008 2009 2010 2011 2012 Sales million 3,869 3,420 3,989 4,454 4,704 Order intake million 3,780 4,649 3,974 4,189 5,311 Order backlog (Dec. 31) million 3,683 4,940 5,136 4,950 5,405 EBITDA million 411 180 464 538 495 EBIT million 245 15 297 354 301 EBT million 193 (46) 229 295 239 Net income million 142 (52) 174 225 190 Cash flow million 308 120 344 402 372 Capital expenditures million 200 145 189 207 238 Amortization/depreciation/impairment million 166 165 167 184 194 Total equity million 1,080 1,134 1,355 1,546 1,461 Total assets million 3,612 3,835 4,460 4,832 4,899 EBIT margin in % 6.3 0.4 7.4 7.9 6.4 ROCE in % 12.5 0.8 14.6 14.9 11.7 Stock price, annual high 53.81 44.74 60.17 66.46 47.23 Stock price, annual closing 22.90 44.74 60.17 34.24 36.40 Stock price, annual low 16.82 20.41 42.50 30.35 31.36 Earnings per share (EpS) 4.09 (1.60) 4.23 5.55 5.00 Dividend per share 1.30 0.30 1.50 1.80 1.80 Employees (Dec. 31) according to capacity 21,020 19,766 19,979 21,516 21,767 Rheinmetall stock price trend in comparison to DAX and MDAX An overview of the Rheinmetall Group North America South America Europe Canada Brazil Austria Italy Mexico Czech Republic Netherlands USA France Norway Germany Sweden Great Britain Switzerland Greece Spain Defence Combat Systems Combat Platforms Infantry Protection Systems Propulsion Systems Combat International Electronic Solutions Air Defence Systems Defence Electronics Electro-Optics Simulation and Training Wheeled Vehicles -
Takata International Configuration and Coordination of a Japanese Automotive Supplier
No. 70 – November 2019 Takata International Configuration and Coordination of a Japanese Automotive Supplier Stefan Schmid Felix Roedder ESCP Europe, Working Paper No. 70 – 11/19 No. 70 – November 2019 Takata International Configuration and Coordination of a Japanese Automotive Supplier Stefan Schmid Felix Roedder AUTHORS Prof. Dr. Stefan Schmid Chair of International Management and Strategic Management ESCP Europe Business School Berlin Heubnerweg 8-10, 14059 Berlin Germany T: +49 (0) 30 / 3 20 07-136 F: +49 (0) 30 / 3 20 07-107 [email protected] Dipl.-Reg. Wiss. Felix Rödder ISSN: 1869-5426 Department of International Management and Strategic Management EDITOR ESCP Europe Business School Berlin © ESCP Europe Wirtschaftshochschule Berlin Heubnerweg 8-10, 14059 Berlin Heubnerweg 8-10, 14059 Berlin, Germany Germany T: +49 (0) 30 / 3 20 07-0 T: +49 (0) 30 / 3 20 07-191 F: +49 (0) 30 / 3 20 07-111 F: +49 (0) 30 / 3 20 07-107 [email protected] [email protected] www.escpeurope.eu ESCP Europe, Working Paper No. 70 – 11/19 ABSTRACT: In less than 30 years, Takata ascended from a local Japanese manufacturer of seat belts to the world’s second-largest supplier of safety systems within the automotive industry. Rapid international expansion was a main driver of the firm’s growth. Takata had to develop adequate strategies to keep up with this development. The result was a broad array of configuration and coordination strategies, which are at the heart of this case study. To get to the bottom of Takata’s internationalization approaches, we begin by examining general characteristics of the automotive safety industry.