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The Automotive Industry_blog  

Konsburg Automotive hits year high    

Posted by: Editor     
 
 
Shares in Norwegian car parts maker Kongsberg Automotive (KOA.OL) rise 6.8 percent to a 15 month-high with analysts striking a positive note after government intervention has helped to stabilise auto sales in Europe and United States.
 
Analyst Andre Adolfsen in Nordea says buyers of Kongsberg Automotive's auto parts will need to restock inventories if demand for new cars stays at the current level or improves.
 
"That is really positive for Kongsberg," Adolfsen says.
 
Ford Motor Co (F.N) said last week that U.S. sales rose 3.1 percent in October. On Friday, General Motors [GM.UL] reiterated it wanted state aid to restructure European units. [ID:nLD676719]
 
"That's a signal they expect those companies to grow and not only be a burden to their portfolio," Adolfsen says.
 

Tags: Konsberg, Automotive, Norwegian, Shares, Stocks, ...
  
BAIH takes interest in Opel/Vauxhall    

Posted by: Editor     

Beijing Automotive Industry Holding have put in a $924 Million bid for General Motor's branch of Opel. Opel also goes by the alias Vauxhall and whose equity stake would fall in BAIH's hands if the deal goes through, giving the China-based automotive company a 51% stake in Opel/Vauxhall. This would leave General Motors with a 49% stake thus easing their current financial difficulties.


However, it has been reported that the front-runner to take over Opel/Vauxhall is currently Canadian supplier Magna International with no clear figures available to the public eye. General Motors are yet to make a decision.

Tags: Vauxhall, Opel, GM, General Motors, Magna Interna...
  

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