They say duties the U.S. imposed on steel and aluminum imports raised their costs but didn’t affect finished goods made in China and sold here -- setting up a potentially damaging Catch-22.
Contingency measures in preparation for Brexit “may in the future include the transfer of the design approval for our large jet engines from the U.K. to Germany.”
Once the deal goes through, Lake Forest, Ill.-based Tenneco will split the combined businesses into two publicly traded companies.
The automaker is seeking concessions from the union to revive its South Korean business after mounting losses.
The sale marks one of the first significant portfolio moves since Flannery trumpeted a plan to exit at least $20 billion of businesses.
“Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market.”
I recommend an organized, disciplined approach that includes standardized roles and responsibilities, work processes, and tools.
The outcome brings to a close the biggest hostile takeover struggle between U.K. companies in a decade.
Carlos Ghosn, chairman of both companies, would run the combined entity, were a deal to get done.
The manufacturer now will focus on paints and coatings.