Hayes Lemmerz - automotive industry company news

US: Fisker names Dana's Yost as CFO

3 July 2012

Luxury electric vehicle (EV) maker Fisker Automotive has appointed Jim Yost as chief financial officer.

US: Lear appoints non-executive chairman

13 August 2010

Lear Corporation has elected Henry Wallace as non-executive chairman of the Board of Directors with immediate effect.

US: Ford adds 13 new ABF companies

26 April 2010

Ford is adding 13 new companies to its Aligned Business Framework (ABF), bringing to 90 the total number of key component and service suppliers.

US: Hayes Lemmerz out of bankruptcy

22 December 2009

Wheelmaker Hayes Lemmerz International has emerged from its voluntary Chapter 11 bankruptcy reorganisation. The 101-year-old company had filed for bankruptcy in May.

USA: Hayes-Lemmerz reaches agreement on reorganisation

3 September 2009

Hayes Lemmerz International has reached an agreement with its lenders and unsecured creditors on the terms of a plan of reorganisation. The wheelmaker said bankruptcy court had approved the company’s disclosure statement incorporating the terms of the agreement.

UK: Chinese and European suppliers may win in global shake-out

24 August 2009

A shake out in the automotive supplier industry caused by the economic crisis will lead to good news for some businesses, according to a leading management consulting firm which said European and Chinese companies dominate a list of more than 350 automotive suppliers likely to emerge as winners in the global consolidation of the sector.

ANALYSIS: Private Equity firms face up to billions lost on auto suppliers

18 August 2009

The bankruptcies of Chrysler and GM may have completed relatively quickly, but the pain in the auto parts industry is still a long way from being healed. Private equity auto parts investors say that the restructuring of the two big auto companies has removed a lot of uncertainty from the equation.

US: Bankruptcy court OKs Hayes Lemmerz financing

16 June 2009

The US Bankruptcy Court in Delaware has authorised Hayes Lemmerz International, which filed for Chapter 11 bankruptcy protection last month, to obtain post petition secured financing of up to US$100m of new liquidity to fund operations.

THE WEEK THAT WAS: It's all about GM

15 May 2009

Now that Chrysler's Chapter 11 restructuring process is well in hand, though hardly without further pain, beady eyes are now sharply focused on General Motors which has roughly two weeks to make a pact with bondholders and the United Auto Workers union or follow its smaller US rival into the hands of bankruptcy court.

US: Hayes Lemmerz sees $100m financing approved

15 May 2009

Hayes Lemmerz International has received court approval of up to US$100m of debtor-in-possession financing, permitting it immediate access to up to $30m to continue operations in the ordinary course of business.

US: Hayes Lemmerz files for Chapter 11 protection

12 May 2009

Steel and alloy wheel supplier Hayes Lemmerz International has filed for Chapter 11 bankruptcy protection after agreeing a pre-negotiated restructure with its lenders.

US: Fitch eyes ratings cut at seven suppliers

12 December 2008

Fitch Ratings has placed seven US auto industry suppliers on a ratings watch because of the threat of the potential bankruptcy filing by General Motors. Fitch added that in its opinion a GM bankruptcy would be followed by a similar filing at Ford.

UK: M&A accelerates in European supplier sector

19 August 2008

The European Automotive sector is accelerating away from its North American rivals, according to research by the corporate finance team at Houlihan Lokey. It is not only Europe’s car manufacturers who are winning the race, the top 20 European supplier groups are also shifting up a gear, making more acquisitions and significantly fewer divestitures.

US: Wheel maker boosts Q1 sales, reduces loss

9 June 2008

Alloy wheel specialist Hayes Lemmerz International has reported fiscal first quarter (30 April) sales of US$573.8m, up 15% year on year. Adjusted EBITDA improved 9% to $54.6m and core operating earnings (excluding discontinued operations and restructuring charges) improved to $25.2m from $21.1m a year earlier. The net loss for the quarter improved slightly to $12.8m, compared with a loss of $15.3m a year ago.

US: Hayes Lemmerz plant to close

13 May 2008

Wheels specialist Hayes Lemmerz International will close its aluminium wheel facility in Gainesville, Georgia by the end of December 2008.

ITALY: Brembo revenue and profits up

13 November 2007

Brake maker Brembo posted a more than 20% rise in its third-quarter core profit on higher revenues on Tuesday, and announced a widening of its supply agreement with BMW.

US [updated 15:50GMT]: Hayes Lemmerz unloads brake components unit to Brembo

9 November 2007

Hayes Lemmerz International and Brembo on Friday announced the sale of Hayes Lemmerz' automotive brake components division to Brembo North America.

Q&A with Hayes Lemmerz International

4 October 2007

Hayes Lemmerz International Inc is a major global supplier of automotive and commercial highway wheels, brakes and powertrain components. Over the last decade, the company has expanded geographically, broadened its product range and branched out to supply heavy truck makers. Continuing just-auto’s series of Q&As with automotive component manufacturers, Matthew Beecham talked to Fred Bentley, Chief Operating Officer, President of the Global Wheel Group, Hayes Lemmerz International Inc.

RESEARCH ANALYSIS: Review of road wheels market

18 September 2007

Since being rolled out by the Sumerians in around 3500 BC, the wheel has been constantly re-invented. Styling flexibility, reduced weight and high quality are just some of the requirements automakers expect from their wheel suppliers today, writes Matthew Beecham.

US: Hayes Lemmerz promotes finance chief

21 August 2007

Hayes Lemmerz International has named James Yost to the new post of executive vice president and chief financial officer.

US: Hayes Lemmerz sells aluminium parts unit

2 July 2007

Hayes Lemmerz International has sold wholly-owned subsidiary, MGG Group BV to an affiliate of the ECF-Group, a privately held company based in Switzerland and The Netherlands.

US: Hayes Lemmersz estimates Q1 results

15 May 2007

Wheel, brake and powertrain components maker Hayes Lemmerz International on Tuesday day announced estimated results for the fiscal year 2007 first quarter and issued updated guidance for the full fiscal year of 2007.

US: Steel wheel maker expands in India

21 February 2007

Hayes Lemmerz International Indian subsidiary Kalyani Lemmerz has completed the expansion of its commercial vehicle steel wheel facility, bringing annual capacity to 800,000.

US: Hayes-Lemmerz posts Q3 operating loss

11 December 2006

Hayes Lemmerz International reported an operating loss for the fiscal third quarter ended 31 October of $US27.6m, compared with a profit of $16.8m in the third quarter of 2005.

US: Hayes Lemmerz reports improved results

12 September 2006

Hayes Lemmerz has reported that its sales for the second quarter ended July 31, 2006 were US$583.4m, up 4.9% from $556.0m a year earlier.

US: Hayes Lemmerz's Russian wheel deal

21 August 2006

Hayes Lemmerz International German subsidiary, Hayes Lemmerz Holding, has signed a licence agreement with Tolyatinskiy Zavod Stalnih Kolyos (TZSK) of Togliatti, Russia, to use the western company’s technology to make steel wheels for Russian passenger car manufacturers.

US: Hayes Lemmerz Q1 net loss widens

9 June 2006

Automotive components maker Hayes Lemmerz International has reported earnings from operations for the fiscal first quarter down to $7.4m from $13.2m a year earlier.

US: Hayes Lemmerz delays filing of 10-K

18 April 2006

Hayes Lemmerz has been unable to file its annual report on Form10-K on time, according to Reuters.

US: Hayes Lemmersz operating loss $462m

11 April 2006

Hayes Lemmerz International has reported an operating loss of $14.9m for the fiscal year ended 31 January, compared to earnings of $22.0m a year earlier.