NEWS
FCA considers spin-off for Magneti Marelli
Fiat Chrysler Automobiles (FCA) said it may separate its component manufactur- ing subsidiary Magneti Marelli in the next few months. In a statement, FCA said: “The Board of Direc- tors of the Company plans to review in detail options relating to this transaction in the second quarter of 2018, concurrent with the Board’s review of the Group’s 2018-2022 business plan. In the meantime management will continue its evaluation of potential transaction structures to maximize value to FCA stockholders.” Reuters news agency said
FCA is considering a spin-off of Magneti Marelli (headquartered in Corbetta, near Milan in Italy) to its shareholders via a share listing on the Milan Stock Exchange that would not raise money by selling new shares. Reuters was citing four unnamed sources. Magneti Marelli is a large
Petchem giants form JV
Magneti Marelli pioneered LED headlamps on the Audi R8
injection moulder of automotive dashboards, centre consoles, bumpers and fuel systems, as well as a major supplier in automo- tive lighting, powertrain and other areas. The company’s turnover was € 7.9bn in 2016 and it has about 43.000 employees. It has 86 production units and 14 R&D Centres in 19 countries around the world, including in Europe, Asia and North and South America and supplies all the leading car
makers in those regions. The company has played a pioneering role in auto- motive headlighting, including the development of the world’s first mass- produced full-LED head- lamp in 2007. It has been developing projector headlamps and tail lamps using LiDAR (Light Detec- tion and Ranging) sensor technology and recently invested in solid-state LiDAR company LeddarTech. �
www.magnetimarelli.com
Oil and gas giant Total, polyolefins player Borealis and PE and styrenics producer Nova Chemicals have signed definitive agreements to form a joint venture in petrochemicals on the US Gulf Coast. Total will hold 50%, and Borealis and Nova Chemicals the other 50% via their Novealis Holdings venture. The agreement encompasses a 1m tonne/year ethane steam cracker currently under construction at the BASF-Total site in Port Arthur, Texas, and due to start up in 2020, plus two PE sites in Bayport, Total’s 400,000 tonnes/year site and Borealis’s new 625,000 tonnes/year Borstar facility. �
www.borealisgroup.com �
www.total.com �
www.novachem.com
Diversified Plastics adds floorspace in USA
Diversified Plastics has expanded at its facility in Minneapo- lis, USA. The company has added 2,775 square feet (258 m²) to the injection moulding and packaging area. It has has also installed a new 250t moulding machine that accommodates existing moulds and increases capacity and flexibility in scheduling. “Many of our customers are in the medical device,
aerospace and electronics industries,” said Annette Lund, Vice President of Diversified Plastics. “This larger, environ- mentally controlled moulding and packaging area, along with the additional moulding machine, increases productivity to meet growing demand from current and new customers.” Diversified Plastics also has two clean rooms. �
www.divplast.com
8 INJECTION WORLD | March 2018
www.injectionworld.com
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