Auto suppliers
Metaldyne Corp. and Kolbenschmidt Pierburg AG are teaming to develop powertrain component systems for fuel-efficient vehicles. The companies, which will remain independent operations but collaborate on design and marketing, aim to help automakers more quickly develop fuel-efficient vehicles. German giant Kolbenschmidt owns more than 20% of the global piston market. Michigan-based Metaldyne makes powertrain chassis.
By leveraging their combined development and marketing efforts, the partners hope to gain strength as automakers in the U.S. and abroad race to restructure and downsize to offset crushing debt and plummeting demand. Still, there's no doubt the pain of automakers is hitting auto suppliers hard. The latest sign? A group of
35 auto suppliers is asking Congress for $10 billion in federal loans to avoid bankruptcy.
- Suzanne Stevens
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