AAM - American Axle & Manufacturing’s Post

Big news for #TeamAAM today!

AAM - American Axle & Manufacturing has agreed to buy Dowlais Group plc for about $1.44 billion in a cash-and-shares deal that will result in another U.K. company leaving the London stock market.

The Genuine Parts Company (GPC) saw its net income decline 14.2% to $295.54 million in the second quarter of 2024, primarily attributable to restructuring costs, investments in technology, and increased personnel costs resulting from acquisitions and inflation. However, the company gross profit rose 2.1% to $2.18 billion, gross margin improved 50 basis points to 36.6% and net sales increased 0.8% to $5.96 billion. Total comparable sales were down 0.9% compared to a year ago, primarily related to a sales decline in GPC’s industrial business. Total automotive parts group sales increased 2.0% to $3.73 billion for the quarter, reflecting a 3.1% benefit from acquisitions that was partially offset by a 0.6% decrease in … (more) … https://lnkd.in/gsMmvNNU NAPA Auto Parts #NAPA #GPC #aftermarket #autoparts #autocare

AAM - American Axle & Manufacturing has agreed to acquire UK-based Dowlais Group plc in a cash and stock deal valued at approximately $1.44 billion. This acquisition aims to establish a leading global driveline and metal-forming supplier, offering products suitable for internal combustion engines, hybrid, and electric vehicles. https://lnkd.in/egt4-USJ #Automotive #Michigan #News

Several tire manufacturers announced major investments in their North American production facilities during 2023, while others continued to move ahead with planned expenditures. Learn more about the moves that are shaping the industry in this piece from Modern Tire Dealer: https://bit.ly/3VYClnm #tires #tiremanufacturing #manufacturing #investment #automatedsystems

Exciting news in the automotive industry today! 🌟 American Axle & Manufacturing will acquire the automotive business of GKN in a deal valued at approximately $1.44 billion. This strategic move not only enhances AAM's capabilities in driveline systems but also solidifies its position as a global leader amidst the industry's rapid shift towards electrification. The acquisition promises to deliver considerable synergies, including expanded global reach and an enhanced platform for innovation, particularly in electric drivetrain solutions. As the automotive sector continues to evolve, this deal may signal a wave of further consolidation as companies strive to meet new technological and environmental challenges. What are your thoughts on the future of mergers in the automotive world? Will we see more consolidations? 💭🤔 #AutomotiveIndustry #Innovation #FutureOfMobility

Long suffering Quickstep shareholders will be asking a lot of hard questions now the Defence contractor and aerospace composites manufacturer has been unable to find a buyer for its loss-making Aerospace Services maintenance business at Tullamarine in Melbourne, and will close the operation. The Maintenance, Repair, and Overhaul (MRO) operation was originally purchased from Boeing Australia, with Quickstep investing $4 million and expanding the operation in 2021. Although the lack of sustainability, the glacial pace of defence procurement and the parlous state of the Australian defence industry supply chain generally must certainly be components of this concerning development, there are obviously other factors at play. Time for Quickstep to examine closely the viability of their business model. At a time when other Australian companies in this space are getting the fundamentals right and doing very well, after 20 plus long years the patience of Quickstep shareholders must be wearing thin.

⚡️This week brings a flood of financial updates: Tuesday, Oct. 22: General Motors (GM), Danaher Corp (DHR), Philip Morris (PM) will reveal their performance. Wednesday, Oct. 23: Tesla (TSLA), Boeing (BA), and Coca-Cola (KO) report next. Thursday, Oct. 24: Big names like Unilever (UL), Honeywell (HON), and Hyundai Motor DRC (HYMTF) will release earnings to close out the week. Join the CapPlace community of CFD traders today for more market news. CapPlace: Your gateway to the world of CFD trading Visit us at: www.capplace.com . . Past performance is not an indicator of future results. Your capital is at risk. MISA License: T2023294 #capplace #economiccalendar #economicevent #economynews #tradingnews #earningsreport #stockprice #fed #cfds #cpi #interestrates #interestrate #trading #tradingforex #tradingsignals #tradingtips #tradingstocks #tradingview #tradingsetup #daytrading #cfdtrading #earnings #aapl

Continental has announced plans to spin off its Automotive group sector by the end of 2025, subject to Supervisory Board and shareholder approval. The spin-off is part of a strategic move to streamline operations and grant greater independence to the company’s Tires and ContiTech group sectors. Read More >> https://lnkd.in/eKU6HHem