Dayco opens automotive components unit in China
by Amanda Zheng 2011-05-24
WUJIANG, China – Dayco, a Troy, Michigan-based supplier noted for its advance timing belts for engines, has recently opened an automotive components unit in Suzhou, east China's Jiangsu Province, wjqcw.com reported.
Dayco, which manufactures belts, hose, tensioners, pulleys and timing belt components for virtually all domestic and foreign cars, light- and heavy-duty trucks and vans, established in August 2010 a subsidiary named DAYCO (Suzhou) Automotive Components Co., Ltd. in the Wujiang Economic Development Zone in Suzhou.
An official opening ceremony was held on May 11 in the zone attended by Qiu Shaoling, general manager of Dayco China, Wen Xianghua, the mayor of Wujiang City, JIM Orchard, chief executive officer of Dayco, etc.
The new company, with a registered capital of $4 million, is engaged in the design and production of automotive power transmission belts and belt tensioners used by cars and engineering machines.
Dayco, which has invested a total of $8 million in DAYCO (Suzhou), expects to see the new company produce six million timing belts, four million poly V-belts and one million belt tensioners annually. The U.S. supplier has provided belts for the automotive industry since 1905.
DAYCO (Suzhou) reportedly has received orders from automotive OEMs such as Changan-Ford-Mazda, GAC-Fiat, GAC, Shanghai-Volkswagen, FAW-Volkswagen, and SAIC Fiat Powertrain Hongyan Co., Ltd. since its founding last August.
As of November 2010, Dayco has set up 14 factories in 12 different countries and four major technical centers globally. It distributes products through more than 1,200 distributors worldwide in 100 countries and 30 languages, according to Dayco CEO Jim Orchard.
Dayco is the largest division of Mark IV Industries, Inc., a $1.4 billion manufacturing company headquartered in Amherst, New York. Mark IV is a global leader in engine technology solutions targeted at primary and accessory drive systems for power transmission and air intake and cooling systems for the worldwide automotive and heavy-duty OEM market and automotive aftermarket.
Dayco Brazil Acquisition
Via AftermarketNews.com - TROY, Mich. –
According to Dayco, this new acquisition
verifies that the company has emerged from its business restructuring stronger than
ever. Adding to its recent joint venture in India, Dayco Products says it has
finalized the acquisition of WVR Rolamentos LTDA, a manufacturer of automotive
tensioners and pulleys, located in Sao Paulo, Brazil. The purchase price is not
being disclosed. According to Dayco, this new acquisition verifies that the company
has emerged from its business restructuring stronger than ever. Dayco reports that
this acquisition is a way to leverage its global presence to further growth in the
automotive market in Brazil. Its global procurement capabilities will enable Dayco
to buy raw materials at improved pricing, especially in die casting operations and
bearings. Market share in Brazil is expected to increase due to the integration of
volume. WVR is currently tooled to produce the vast majority of aftermarket
applications in Brazil and as a result, has application coverages for autos in
other parts of the world as well. Manufacturing operations are ISO 9000 certified
and include internal capabilities in engineering, machining, injection and
assembly. WVR develops and owns the die casting tooling, used in its manufacturing
processes. With this acquisition, Dayco is relocating its Brazilian operations to
a 75,000-square-foot facility in Sao Paulo that will allow it to triple current
production capacity, as well as integrate warehousing and distribution operations
in its current aftermarket division. This location is close to the old plant, so
current employees can easily transfer to the new plant, ensuring a smooth
transition into the new facilities, the company said. Once consolidated, Dayco
expects this new facility to improve EBITDA for both American and European
operations, as plans for exporting come online.