Corporate

WARREN, Mich., March 12 /PRNewswire/ -- Vari-Form, one of the world's largest producers of hydroformed structural components for the automotive industry, announced that the company has been acquired from parent-company TI Automotive as a part of the acquisition of TI Automotive's Industrial Group by a key affiliate of Sun Capital Partners, Inc.

Stephen Dow, President, Vari-Form said: "The resources of Sun Capital Partners will further strengthen Vari-Form's leadership position in the metal forming industry as we continue to focus on the advanced technology that our automotive customers need."

Vari-Form's patented Pressure Sequence Hydroforming (PSH) process has produced over 50 million parts worldwide since 1990, including front-end structures, roof rails, and other components. Vari-Form's process out-performs traditional stamping and conventional hydroforming in many applications where part design is complex. Fewer component sections to assemble, reduced part weight with improved structural integrity, and better dimensional control are among the benefits.

NEW YORK, Mar. 12 /PRNewswire-FirstCall/ -- Asbury Automotive Group, Inc. (NYSE:ABG) today announced its intention to raise, subject to market and other conditions, approximately $250 million through concurrent offerings of $150 million principal amount of Senior Subordinated Notes due 2017 and $100 million principal amount of Senior Subordinated Convertible Notes due 2012 through private offerings which are exempt from registration under the Securities Act of 1933, as amended (the "Securities Act"). The Convertible Notes will be convertible into cash up to the principal amount of the notes and, if applicable, shares of Asbury's common stock, at a conversion rate to be determined at the time of offering. In addition, Asbury expects to grant the initial purchasers in the offering of Convertible Notes an option to purchase up to an additional $15 million principal amount of Convertible Notes.

WENZHOU, Zhejiang, China, March 12 /Xinhua-PRNewswire-FirstCall/ -- SORL Auto Parts, Inc. (NASDAQ:SORL) , a leading manufacturer and distributor of commercial vehicle air brake valves as well as other auto parts in China, today announced that the Company has entered into a new sales agreement with TATA Motors (NYSE:TTM) , the largest commercial vehicle manufacturer in India. In addition, SORL also announced that the company has opened a sales center in India to focus on OEMs and Aftermarket in Indian market.

The new agreement with TATA Motors is for a one year term, for the purchase of air brake valves and related products. Other terms of agreement were not disclosed. In 2006, SORL formed a strategic partnership with TATA Motors to supply SORL's high quality auto parts to TATA's commercial vehicles and aftermarket replacement division.

Tuesday, March 06, 2007 - About 380 UAW members at the AK Steel Corp. facility in Coshocton, Ohio, ratified a three-year contract that improves wages and pensions, while holding the line on health care contributions and preserving health care for retirees.

The contract was ratified by members of Coshocton's UAW Local 3462 on Feb. 23 by a vote of 313-52.

Under the agreement, which runs through March 31, 2010, all workers will receive a 50-cents increase in wages in March. Most workers will receive a 25 cents to $1 increase in wages in 2008 and 2009, depending on their classification.

CHICAGO, March 6 /PRNewswire-FirstCall/ -- NAVTEQ (NYSE:NVT) , a leading global provider of digital maps for vehicle navigation and location-based solutions, today completed its previously announced acquisition of Traffic.com, Inc. (NASDAQ:TRFC) , a leading provider of personalized traffic information for drivers coast-to-coast.

In accordance with the terms of the acquisition, as announced on November 6, 2006, NAVTEQ acquired all the outstanding shares of common stock of Traffic.com. The total consideration to be paid in the transaction is approximately $177 million, subject to pending elections by stockholders and certain option holders of Traffic.com.

ROCHESTER HILLS, Mich., March 5 /PRNewswire-FirstCall/ -- Energy Conversion Devices, Inc. (ECD Ovonics) (NASDAQ:ENER) today announced the first in a series of management moves consistent with the company's previously announced management succession planning. At his request, Stanford R. Ovshinsky, President and Chief Scientist and Technologist, has relinquished his executive management responsibilities as the company's President and a member of its Office of the Chairman to devote his full energy and intellect to the further development of the science and application of amorphous and disordered materials in the fields of energy and information technologies. Mr. Ovshinsky, who co-founded the company with his wife, Dr. Iris M. Ovshinsky, will remain an active member of ECD Ovonics' Board of Directors, and contribute on strategic and technical issues as Founder and Chief Scientist and Technologist.

Mr. Ovshinsky's office will be located at ECD Ovonics' newly named Stan and Iris Ovshinsky Center for the Advancement of Energy and Information Technologies in Bloomfield Hills, Michigan. He will continue to serve as Chairman of the Board of ECD Ovonics' Ovonyx, Inc. joint venture.

FINDLAY, Ohio, Feb. 28 /PRNewswire-FirstCall/ -- Cooper Tire & Rubber Company (NYSE:CTB) today announced a quarterly dividend of 10.5 cents per share on common stock, payable March 30, 2007, to stockholders of record at the close of business March 12, 2007. This will mark the 140th consecutive quarterly dividend paid by Cooper Tire & Rubber Company.