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...In the words of one automotive supplier executive: “We are totally dependent on China.”...
...Both his early experience as a patternmaker (making wooden moulds to cast tools for the automotive and aircraft industries) and his later design education at Central Saint Martins come into play....
...Idexx said in October that the animal health market had experienced a “V-shaped recovery”....
...ben.hall@ft.com...
...Recently acquired by Siemens....
...He joined Honda in 1982 straight from university as an engineer, and made his name after overseeing the development of the second-generation CR-V, a popular compact SUV....
...Just a week ago it agreed to pay A$400m for the refrigerated logistics business of Australia’s Automotive Holdings....
...Net debt, which surged in 2007 after Continental acquired Siemens’ VDO unit, declined last year from €6.8bn to €5.3bn....
...Mr Löscher says the group was targeting takeovers smaller than the €11.4bn sale of its automotive unit VDO to Continental in 2007....
...“It takes only one component to take a facility down”, said Mike Hall, auto analyst at IHS Automotive, the consultancy....
...Conti is reeling from a large debt pile it amassed with its takeover of Siemens’ automotive unit VDO three years ago. In the first nine months, the group reported €531m in net interest expenses....
...Flexibility measures such as Kurzarbeit helped deal with most of the supply problems that had been dreaded at the initial stages of this apparently V-shaped recovery....
...While some companies such as Siemens and Bayer have brought in foreign managers to reflect the globalisation of their businesses, VW is not following....
...Continental also entered the downturn with €11.8bn debt, partly from its takeover of the Siemens VDO parts business in 2007....
...Because they are based around proven, reliable technology, they are also less likely to produce the kinds of exceptional costs Siemens has suffered with its innovative Combino tram....
...He followed this with his expensive and ill-timed acquisition of VDO, the automotive components division of Siemens. In the meantime, he had also taken over as chairman of ABB....
...Its €11.4bn ($18.1bn) acquisition of VDO, the Siemens car components business, has left it vulnerable to a takeover....
...Siemens one year ago....
...Conti has suffered ever since it completed the €11bn takeover of VDO from Siemens only days before the credit crunch erupted. That deal left it hobbled with debts of more than €10bn....
...He followed this with his expensive and ill-timed acquisition of VDO, the Siemens automotive components division. In the process, Mr Geissinger left Teves and joined Schaeffler....
...announced a tie-up with Siemens VDO Automotive to develop a range of in-car equipment....
...Last year saw a high water mark for megadeals in the auto supply industry when Continental bought VDO from Siemens for €11.4bn ($17.7bn)....
...German capitalism Continental, the German car parts company, has taken a step into the global league of suppliers with its multi-billion euro purchase of Siemens’ VDO....
...Continental’s €11.4bn ($17.3bn) purchase of VDO from Siemens last year set a new benchmark for the supplier subsector. Europe’s truckmakers also remain ripe for consolidation, analysts say....
...German capitalism Continental, the German car parts company, has taken a step into the global league of suppliers with its multibillion-euro purchase of Siemens’ VDO....
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