auto parts manufacturers,auto parts suppliers

Stuttgart, May 27, 2008—Robert Bosch GmbH and MAHLE GmbH have founded a 50/50 joint venture for the development, production, and sale of exhaust gas turbochargers. The European anti-trust authorities have approved the founding of the joint venture. “Bosch Mahle Turbo Systems GmbH & Co. KG” will commence business on June 2, 2008.

The company’s head office in Stuttgart will house the development, administration, and sales activities. Initially, around 100 employees will work here, with half drawn from each of the parent companies. Series production of exhaust gas turbochargers will begin in 2011 at existing locations in St. Michael ob Bleiburg, Austria, and Blaichach/Immenstadt, Germany. Up to 500 employees will manufacture major parts and components of a high quality and assemble exhaust gas turbochargers. These will be used in passenger cars and light commercial vehicles, in both gasoline and diesel engines.

Dr. Martin Knopf and Dr. Andreas Prang have been appointed managing directors of the new company. “We are convinced that Bosch Mahle Turbo Systems will position itself as a preferred partner of international automobile manufacturers for the development and production of exhaust gas turbochargers. Concrete interest has already been shown during numerous discussions with customers,” says Prang, responsible for production, purchasing, and quality management.
“Now that exhaust gas turbochargers have been successfully used primarily in diesel engines, they will be used increasingly in gasoline engines in the future, in combination with direct gasoline injection for downsizing concepts. This will allow smaller engines to achieve better efficiency with comparable power output,” explains Knopf, who is responsible for development, sales, and finances. Bosch Mahle Turbo Systems regards the exhaust gas turbocharger as one of the key technologies for the sustainable reduction of fuel consumption and CO2 emissions.

Bosch and MAHLE are firmly established in the field of automotive powertrains. The two companies complement each other ideally as regards their systems and component know-how as partners in the development and production of new exhaust gas turbochargers.

· 2007: after adjusting for currency effects, sales grow by eight percent to 46.3 billion euros; pre-tax return on sales reaches 8.2 percent
· 2008: generally positive development of business expected despite less favorable economic environment

· Innovations: focus on technologies that protect the environment and conserve resources

· Asia: nearly 1.9 billion euros to be invested between 2008 and 2010 in further expansion of activities

· Germany: expansion of Abstatt engineering center near Heilbronn will create up to 900 new jobs

· Scarcity of specialists: “Education is the best growth investment”

Stuttgart – The Bosch Group is energetically continuing its course of international growth. The company’s sales revenue increased by six percent in fiscal 2007 to 46.3 billion euros. After adjusting for currency effects, growth was eight percent. Profit before tax came to 3.8 billion euros, compared with 3.1 billion euros in the previous year. The pre-tax return on sales was thus 8.2 percent, following 7.1 percent in 2006. “For the Bosch Group, 2007 was a successful year. We achieved our sales and earnings targets. The fundamental strategy of the Bosch Group is the right one. Worldwide, we have a broad spectrum of growth,” said Franz Fehrenbach, chairman of the Bosch board of management, at the annual press conference in Stuttgart. In 2007, Bosch invested roughly 6.2 billion euros in the future of the company. Of this amount, 3.6 billion euros went into research and development, and 2.6 billion euros into capital expenditure. Worldwide, the number of Bosch associates rose by roughly 10,000 to some 271,300. In 2007 alone, the company spent more than 225 million euros on training for its associates.

For fiscal 2008, the Bosch CEO was cautiously optimistic: “Despite all the worries about the economy, we have good reason to be confident. The operating environment may have weakened, but we do not foresee a global downturn. We expect the Bosch Group to continue to perform well on the whole.” Fehrenbach expects Bosch Group sales to again increase by some five percent in 2008, despite the strong euro. In addition, the company aims to once more achieve its target for pre-tax return on sales of seven to eight percent. In the first four months of 2008, Bosch Group internal sales increased by a nominal four percent, and seven percent after adjusting for currency effects.

Encouraging developments in all three business sectors
“Our positive result in 2007 has enabled us to further strengthen our financial basis, providing us with a very sound financial platform for funding future growth,” said CFO Gerhard Kümmel in his review of the Bosch financial statements. The equity ratio rose by a further three percentage points to 51 percent. All Bosch business sectors contributed to this good result. The Automotive Technology business sector increased its sales by a nominal 4.5 percent to 28.4 billion euros. After adjusting for currency effects, growth came to 6.7 percent. Despite substantial up-front investments in research and development, its return on sales from operations rose from four percent to 5.8 percent. Growth was driven primarily by demand for advanced diesel and gasoline injection systems, as well as a rise in the share of vehicles equipped with the Electronic Stability Program ESP®. Above all, the development of result showed the effect of improved capacity utilization, and of the many measures to improve processes, reduce costs, and increase productivity at all locations worldwide.

Sales of the Consumer Goods and Building Technology business sector increased by 6.5 percent to 11.7 billion euros. After adjusting for currency effects, this was a plus of eight percent. The return on sales from operations amounted to 7.5 percent, after 8.2 percent in the previous year. Business in the areas of power tools, household appliances, and security systems developed positively in terms of both sales and result. In its thermotechnology operations, by contrast, Bosch was able to hold its market position, but felt the effects of marked purchasing restraint in Germany, where consumers are unsure what to expect when it comes to future emission regulations and government grants. In the first months of 2008, by contrast, the thermotechnology business has picked up again.

The Industrial Technology business sector recorded a sales increase of 9.4 percent in 2007, to six billion euros. After adjusting for currency effects, it grew by 12 percent. Its return on sales from operations rose from 7.8 percent to 8.4 percent. In automation technology, Bosch benefited from the healthy global business climate for capital goods and from its broad product portfolio. And following restructuring measures, packaging technology developed better than in previous years.

Asia as a motor for growth – activities also being expanded in Germany
In 2007, moreover, it was possible to strengthen all three business sectors by means of a series of acquisitions. “Last year, we spent a total of around 800 million euros on acquisitions and on increasing our holdings in existing affiliated companies,” Fehrenbach said. For 2008 and successive years, he said, there were sufficient funds available for the company to be able to spend considerably greater amounts. “We will continue to take full advantage of our opportunities for growth in automotive technology, but at the same time growing by an above-average rate in consumer goods, building technology, and industrial technology. To achieve this, we shall continue to make acquisitions wherever they fit in with our core competencies and our corporate culture,” Fehrenbach said. Bosch is currently tendering an bid to acquire all shares in Bosch Corporation, its Japanese subsidiary. The bid is valid until June 19, 2008.

In regional terms, Bosch was once again able to post double-digit sales growth in Asia Pacific. After adjusting for currency effects, sales in North America rose by 6.5 percent, despite the weakness of the automotive industry. In euro terms, North American sales dropped by 1.6 percent. In Europe, Bosch generated six percent sales growth. “By 2015, we aim to generate over half of our sales outside Europe. However, Europe itself will remain a key market for our innovations. And despite all the current problems, we continue to trust in the long-term strength of the American economy. Nonetheless, our strongest growth region will be Asia,” Fehrenbach said. Bosch intends to triple its sales in the region by 2015, and to invest nearly 1.9 billion euros there by 2010. This is half a billion euros more than in the last three years. The company’s presence in Germany is also to be expanded further: “Between now and 2010, we will spend more than 60 million euros on expanding our engineering center in Abstatt, near Heilbronn. This may create up to 900 new jobs, especially in engineering and application,” Fehrenbach announced at the annual press conference.

Fehrenbach: climate protection goals can only be achieved with specialists
Across all its business sectors, Bosch intends to further expand its research and development work on technologies that protect the environment and conserve resources. In the automotive area, for example, Bosch has set up a second project unit in addition to its hybrid unit. This project unit will develop high-performance lithium-ion batteries, and focus the company’s efforts on further developing the core competence it needs for the increased use of electrical motors in drive systems. But the company’s activities go far beyond the car: “In the Bosch Group, more than 40 percent of our research and development budget now goes into products that conserve resources and protect the environment. In 2007 alone, this was a good 1.5 billion euros,” Fehrenbach said. Going beyond energy efficiency, greater effort is to be invested in harnessing and utilizing renewable energies. Sales generated with these systems will grow at a double-digit rate to more than 750 million euros in 2008 – and are expected to exceed 1.2 billion euros in 2010.

“But in the 21st century we shall only be able to meet our ambitious targets for carbon dioxide reduction if we have enough specialists. Not enough thought is devoted to this subject, let alone action,” Fehrenbach said. “Education has hardly ever been as important as it is now, in the age of globalization. Competition for the best people is increasing every single day.” This was, he said, why Bosch was involved in diverse ways in the area of education. In addition, the company took on 5,500 university graduates worldwide in 2007. Fehrenbach is convinced: “In the long run, education is the best growth investment.”

Thursday 1 May 2008

Tomkins, the global engineering and manufacturing group, sets out below its Interim Management Statement in relation to trading to date for the 2008 financial year.

The Company’s Annual General Meeting will be held today at 11.00 a.m. at the Queen Elizabeth II Conference Centre, Broad Sanctuary, Westminster, London SW1P 3EE.

James Nicol, Chief Executive Officer, commented:
“Tomkins’ performance to date has been resilient. Our managers continue to take steps to mitigate the continuing US headwinds and to offset the impact of rising commodity prices through global sourcing, lean initiatives and price increases to our customers. Our businesses have continued to grow in emerging markets and we have seen strong demand in the global industrial sector. Good progress has been made in our stated Group priorities, including the three-year performance improvement programme, and we have made two bolt-on acquisitions and a joint venture in high-growth markets since the beginning of the year.”

Performance year to date

Industrial & Automotive (”I&A”)
I&A performed in line with expectations during the early months of the year. The business generated good growth in the global industrial and agricultural businesses. I&A’s performance in the oil and gas markets was bolstered at the beginning of March by the acquisition of A.E. Hydraulic (Pte) Ltd., a provider of hydraulic and industrial hose solutions and services for the oil exploration industry in Asia. Latin America, India and China continue to contribute to the overall performance of the I&A business. Stackpole, now a part of the Gates business, formed a joint venture with Halla Group of Korea, which will enable it to enter the attractive Asian markets with a local partner and grow the business through their combined expertise. The positive momentum in emerging markets is offsetting weaker demand from North American automotive equipment manufacturers. The Schrader Electronics business announced a contract to supply breakthrough technology for fuel level sensors to BMW Motorcycles.

Building Products (”BP”)
Air Systems Components (“ASC”) saw a steady performance in the North American non-residential construction market. ASC continues to make good progress with its expansion plans in India and announced the acquisition of a controlling stake in Rolastar, a duct profile manufacturer. BP saw a number of contract wins, including two awards for infrastructure projects in Australia and the Middle East. BP’s residential businesses continue to be impacted by the declining US residential housing market and management is taking the required actions to mitigate the impact on performance.

Financial position (unaudited)
There has been no material change in the financial position of the Group during the period. As at 29 March 2008, the Group’s net assets were $2,335.4 million (29 December 2007: $2,254.8 million) and its net debt was $682.6 million (29 December 2007: $591.5 million).

Change of reporting currency
As indicated in the 2007 Preliminary Results Announcement, the Group’s reporting currency was changed from Sterling to the US Dollar with effect from the beginning of 2008. The Group’s primary financial statements and business segment information for 2007, originally reported in Sterling, have been translated into US Dollars and are provided in a separate press release published today.

Outlook for 2008
The majority of the end markets the Group sells into remain reasonably robust, with particular strength in the global industrial and agricultural markets. However, since the date of our results some of the Group’s end markets have weakened further. North American automotive production is now expected to be at 14.1 million units for 2008 compared to the original outlook of 14.4 million units. The US residential housing market continues to soften and US housing starts are now expected to be at around 0.9 million units for 2008, compared to the original outlook of just over 1.0 million units. Our internal action plans are progressing well and accordingly the Group’s outlook for 2008 remains in line with the outlook communicated in the 2007 Preliminary Results Announcement.

Notes to editors
Tomkins is a global engineering and manufacturing group with market and technical leadership across two business groups: Industrial & Automotive and Building Products. Tomkins plc’s ordinary shares are listed on the London Stock Exchange under the symbol TOMK and also trade in ADR form on the New York Stock Exchange under the symbol TKS.

VAN BUREN TOWNSHIP, Mich., May 19, 2008 – Visteon Corporation (NYSE: VC) today announced that it has commenced a tender offer for up to $344 million of its 8.25 percent notes due August 2010 (the “Old Notes”). Each Eligible Holder (as defined below) who tenders Old Notes in the tender offer is required, as a condition to such Eligible Holder’s participation in the tender offer, to purchase a principal amount of Visteon’s new 12.25 percent senior notes due 2016 (the “New Notes”) equal to 60 percent of the aggregate principal amount of Notes purchased from such Eligible Holder pursuant to the tender offer at a purchase price equal to 91.621 percent of the principal amount thereof. The tender offer and offering of New Notes are being made only to holders of the Old Notes that are qualified institutional buyers and institutional accredited investors inside the United States, and to certain non-U.S. investors located outside the United States (“Eligible Holders”).

The total consideration for each $1,000 principal amount of Old Notes validly tendered and not withdrawn pursuant to the tender offer is $978.30 (“Total Consideration”). Eligible Holders must validly tender and not withdraw Old Notes and commit to purchase the applicable amount of New Notes on or prior to 5 p.m., New York City time, on June 2 (“Early Tender Deadline”) in order to be eligible to receive the Total Consideration for such Notes purchased in the tender offer. The Total Consideration includes an early tender payment (“Early Tender Payment”) of $40 per $1,000 principal amount of Notes payable in respect of Old Notes validly tendered and not withdrawn on or prior to the Early Tender Deadline. The tender offer will expire at 11:59 p.m., New York City time, on June 16, 2008 (the “Expiration Date”), unless extended or earlier terminated by Visteon. Holders who validly tender their Old Notes and commit to purchase the applicable amount of New Notes after the Early Tender Date and on or prior to the Expiration Date will be eligible to receive an amount, paid in cash, equal to the Total Consideration less the $40 Early Tender Payment per $1,000 principal amount of Old Notes tendered (the “Tender Consideration”). Tenders of Old Notes may be withdrawn at any time before the Early Tender Deadline, but not thereafter, unless Visteon reduces either the principal amount of the Old Notes subject to the tender offer or the Total Consideration or withdrawals are otherwise required by law to be permitted.

Prior to launching the tender offer, Visteon had discussions with Eligible Holders of approximately $201 million in aggregate principal amount of the Old Notes regarding the proposed terms and conditions of the tender offer and the offering of New Notes. Based on such discussions, Visteon believes that such holders intend to tender all of their Old Notes pursuant to the terms of the tender offer and purchase the required amount of New Notes. Eligible Holders whose Old Notes are accepted for payment in the tender offer shall receive accrued and unpaid interest in respect of such purchased notes from the last interest payment date to, but not including, the settlement date for the tender offer and the offering of New Notes, which is expected to be June 18, 2008, unless the tender offer is extended by Visteon, assuming all conditions to the tender offer have been satisfied or waived. In the event of an over-subscription of the tender offer, Old Notes tendered on or prior to the Expiration Date will be subject to proration.

Visteon’s obligation to accept for payment and to pay for Old Notes validly tendered and not withdrawn pursuant to the tender offer is conditioned upon (a) the tender of no less than $300 million in aggregate principal amount of Old Notes, (b) the consummation of the concurrent offering of New Notes to the Eligible Holders and the satisfaction by each Eligible Holder tendering Old Notes of such Eligible Holder’s obligation to purchase its applicable amount of New Notes in the concurrent note offering, and (c) satisfaction of certain general conditions.

The New Notes will be senior unsecured obligations of Visteon Corporation and will be guaranteed by certain of its U.S. subsidiaries. The New Notes will mature on Dec. 31, 2016, and will bear interest at a rate per annum equal to 12.25 percent. The New Notes will include a put option pursuant to which a holder can require Visteon to repurchase all or a portion of such holder’s New Notes on Dec. 31, 2013 at 100 percent of the principal amount thereof plus accrued and unpaid interest to such date. All or a portion of the New Notes can be redeemed by Visteon (a) prior to Dec. 31, 2013, at par plus a make-whole premium and (b) on or after Dec. 31, 2013, at specified redemption prices, plus in each case accrued and unpaid interest, including, if applicable, liquidated damages on the principal amount of New Notes being redeemed.
The New Notes have not been and will not be registered under the Securities Act or any state securities laws. Therefore, the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities. The tender offer and the offering of New Notes is being made only pursuant to an offer to purchase, an offering memorandum and related letter of transmittal and only to such persons and in such jurisdictions as is permitted under applicable law.

Visteon Corporation is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany; the company has facilities in 26 countries and employs approximately 40,000 people.