Kinetic Die Casting Company wishes to express our hope that your 2010 is a prosperous one. We are pleased that we were able to serve you and your company with splendid die casting parts and tooling. Many of our customers …
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8 Major Auto Parts Suppliers Closing
Lear Corp. (LEA) will become the eighth major auto parts supplier to file for Chapter 11 protection since 2005 as the industry has struggled amid declining sales and high costs. Since one parts maker often supplies several car companies, any trouble in shipping parts can lead to disruptions, including the shutdown of auto plants.
Lear is the No. 2 supplier worldwide for automotive seating systems and among the top five for electrical distribution systems, with net sales of $13.6 billion last year. It ranked 157 in the Fortune 500. The company, headquartered in Southfield, Mich., has 80,000 employees at 210 facilities in 36 countries. General Motors (GM) accounted for 23% of its sales in 2008; Ford Motor Co. (F) for 19%.
So, who were the seven major auto suppliers to precede Lear in bankruptcy filings?
Collins & Aikman
Collins & Aikman once made parts for just about every single U.S.-built car. The 116-year-old company closed in late 2007, after completing the sale of its last major operations to a private equity group led by billionaire Wilbur Ross. The company got into trouble under the leadership of ex-Reagan administration budget director David Stockman, who steered it toward expansion just as the U.S. auto industry began a steep downturn. The company filed for Chapter 11 in 2005.
Delphi
Delphi (DPHIQ) unveiled a plan to emerge from its nearly four-year-old Chapter 11 bankruptcy on June 1. The deal calls for Delphi to sell four U.S. auto-parts plants and its steering business to former parent GM. But the bulk of Delphi’s assets would be sold to Platinum Equity, a Beverly Hills, Calif., private-equity firm in a transaction largely backed by GM. Delphi’s creditors went to federal bankruptcy court, attempting to thwart the proposed $3.6 billion acquisition, deriding it as a “sweetheart deal.” A court hearing is set for July 23.
Tower Automotive
Tower Automotive emerged from Chapter 11 bankruptcy nearly two years ago and sold most of its assets to the private-equity firm – and former Chrysler parent – Cerberus Capital Management. Tower, a supplier of metal structural components, filed for Chapter 11 in 2005, and subsequently undertook a restructuring that included closing 16 manufacturing facilities and selling off ancillary businesses.
Visteon
Visteon (VSTN), a former unit of Ford, filed for bankruptcy on May 28. The auto-parts maker is seeking bankruptcy-court permission to cancel its retiree health-care and life insurance obligations, a move the company says would erase $310 million in liabilities from the company’s balance sheet. It also says it has reached a deal to sell its Alabama air-conditioning subsidiary to a Korean company that Visteon also controls but that isn’t under bankruptcy protection.
Metaldyne
Metaldyne also sought Chapter 11 protection in May with deals in hand to sell its powertrain and its chassis business units. RHJ International has offered $75 million in cash and debt for the powertrain business, the offer that will set a floor price at the July 24 auction. The Carlyle Group private-equity firm had signed a nonbinding letter of intent to acquire the chassis segment, but the two parties haven’t been able to come to terms on a purchase agreement.
Dana Holding
Dana Holding (DAN) emerged from bankruptcy in February, 2008, nearly two years after filing for Chapter 11 protection. The Toledo, Ohio, maker of axles, driveshafts and structural products for auto makers emerged with $2 billion in exit financing from a consortium of investment firms – Citigroup Global Markets, Lehman Brothers, and Barclays Capital.
Dura Automotive Systems
Dura Automotive Systems filed for Chapter 11 protections in October 2006, and emerged from bankruptcy a year ago. In January, it took initial steps toward becoming a private company. The company is the largest independent designer and maker of driver control systems, and a leading supplier of door modules, glass systems and seat mechanisms.
Kinetic Die Casting manufactures die casting metal parts creating products like roofing tile molds, lighting parts, and military parts. If you would like more information about Kinetic Die Casting, visit our website:Kinetic Die Casting Company
Die Casting Job References
Die Casting Job References. Upon making your resume, it is typical to add a list of names at the last part, which will serve as your die casting jobs references. You can also type it on a different sheet of paper which you can hand to your potential die casting employer upon request. What are job references, and why are they necessary?
Usually when a potential, die casting job, employer asks you for references, he or she already sees you as a potential employee, and wants to know further about you. Planning ahead and putting a list of names on your resume is a good idea, rather than thinking of a name who can talk about you just as your potential employer asks for one.
It is important to note as well that it is necessary to ask someone’s permission first before putting in his or her name as your die casting job reference. This is also ideal in that you can sound him or her off, to see if he or she is willing to talk about you in a positive way. If the person you ask seems hesitant, it might not be a good idea to list him or her as your reference. The best people to ask would be former professors, die casting employers, and co-workers. When you are new in the workforce, you can also ask people who are close to you such as former teachers, church ministers, and others who can serve as your die casting character references.
Lastly, don’t forget to update your references. Inform them on who will possibly call, and thank them when they provide your die casting jobs references. More tips can be found on Superjob4U.
Kinetic Die Casting manufactures products like heatsink die casting, aluminum housings, and lighting fixtures. If you would like more information, please visit our website:Kinetic Die Casting Company
Pace Industries in Monroe City
Monroe City, MO — Machinery is being moved out of Pace Industries in Monroe City as the plant prepares to close July 14.
Some equipment from the Monroe City facility is being moved to other plants in Arkansas and Wisconsin.
Pace announced in May that it was closing the 220,000-square-foot facility at 135 Front Street. Almost 190 workers will lose their jobs.
The Arkansas-based company produces aluminum die cast products for a variety of industries, and blames the closure on the national economic downturn.
Pace bought the plant in 1990, but the facility dates to 1951 and once was known as Kuhlman Diecasting.
Kinetic Die Casting manufactures die cast parts for their customers. If you would like to know more about what is die casting or if you would like a quote, please visit our website:Kinetic Die Casting Company
Why Use Consumer Parts Die Castings?
Why Use Consumer Parts Die Castings? Die casting is a process that involves three steps to accomplish. The first step is to melt raw material, in this case metal alloy, by subjecting it in intense heat. Once the metal alloy has melted into liquid, it will then be injected in large casings made of steel commonly referred to as molds or castings. These casings would give the liquefied metal its new shape. The mold will then be cooled down so that it will harden once again and there you have it. A common metal used in this process is aluminum, but other metals such as zinc can also be used. Consumer Parts Die Castings is an industry in itself which caters to many manufacturers around the world.
A lot of products such as electronics, automobiles and household appliances make use of aluminum parts. Aluminum is a favored metal alloy for many manufacturers because of its characteristics. It is almost as strong as steal but it carries less weight compared to steel and most other metals for that matter. At the same time, aluminum is cheap and easy to obtain. For the manufacturers that provide these products which use aluminum parts, they need different kinds of parts which can be provided by die casting. Consumer Parts Die Castings fast and is cheap, which is why it is a choice of many manufacturers around the globe.
Consumer Parts Die Castings can create bulk orders in little time. It is a valuable asset for any manufacturer to have someone provides them with die casted aluminum parts. It is even better if they have their own die casting machinery.
Kinetic Die Casting manufactures custom metal parts to their customer. If you would like more information about Kinetic Die Casting, please visit our website:Kinetic Die Casting Company
Maunufacturing Stable
Declines in U.S. manufacturing activity slowed last month, raising the likelihood that the sector — and perhaps the broader economy — could see growth in the second half of the year. But separate reports showed the labor market remains weak, an obstacle to recovery.
Rising production and a shallower drop in employment helped push the Institute for Supply Management’s index of manufacturing activity to 44.8 in June from 42.8 in May. It was the sixth straight monthly increase, though activity still remains below the 50 level that signals overall growth in the sector.
“The sector is a relatively small part of overall U.S. employment and gross domestic product, but it serves as a useful business barometer. Though activity is improving, prospects for a swift recovery are shaky: A key gauge of production — new orders — declined in June following three monthly gains.
Separately, a June employment report from payroll company Automatic Data Processing Inc. showed a continuing weak labor market. ADP said the U.S. shed 473,000 private-sector jobs last month — the smallest decline since October, but a higher number than expected and a sign that the government’s official estimate, released Thursday, could show little improvement.
Meanwhile, the U.S. housing market continues to show tentative signs of recovery.
Pending home sales, an index of contracts signed that is typically released about a month before reported sales, rose slightly in May, the National Association of Realtors said. The index gained 0.1 point to a seasonally adjusted 90.7, its highest level since September. Pending sales rose in the Northeast and West, and dipped in the Midwest and South. An index level of 100 represents contract activity in 2001, the first year the data were collected.
Also Wednesday, the Commerce Department said spending on construction nationwide declined in May, falling 0.9% to $964 billion at a seasonally adjusted annual rate. The drop was led by a 3.5% decline in residential construction spending to $247.4 billion. While residential spending levels are down a third from a year ago, the declines from April through June are shallower than in the first quarter, which economists say should help buoy second-quarter GDP.
Spending on nonresidential construction, meanwhile, held steady in May, rising 0.1% to $716.7 billion, and stayed slightly below year-ago levels. Spending on education, health care and manufacturing rose from April to May, while lodging, offices and roads spending declined.
Kinetic Die Casting makes great quality aluminum, and Zinc Die Casting If looking for a job or would like a quote please visit our website:Kinetic Die Casting Company
