Auto News Digest.(Briefs).

Automotive News 81.6227 (Oct 30, 2006): p51. From Academic ASAP.

Denso, Bosch venture will make filters

STUTTGART - Denso Corp. and Robert Bosch GmbH said last week that they have agreed to set up a 50-50 joint venture in eastern Europe to produce diesel particulate filters. The joint venture is scheduled to be launched in 2007.

Denso, of Kariya, Japan; and Bosch, of Stuttgart, said in a joint press release that the diesel particulate filters will be made out of cordierite, a mineral also used in catalytic converters. They will market the product separately. Denso and Bosch said they expect that particulate filters will become standard equipment for all new diesel-powered cars in Europe because of new emissions standards there.

BorgWarner profit dips

DETROIT - Powertrain components maker BorgWarner Inc. last week posted net income of $39.2 million on revenue of $1.06 billion during the third quarter, which ended Sept. 30. That compares with net income of $61.4 million on revenue of $1.05 billion during the same quarter a year ago.

For the first nine months of the year, BorgWarner, of Auburn Hills, Mich., said it posted net income of $170.7 million on revenue of $3.38 billion, compared with net income of $174.9 million on revenue of $3.25 billion during the same period a year ago.

JCI sets records; auto unit slips

MILWAUKEE - Despite declines in its automotive interiors business, Johnson Controls Inc. said on Wednesday, Oct. 25, that it posted record sales and earnings for the fiscal year that ended Sept. 30.

For the fiscal year, Johnson Controls said it posted net income of $1.03 billion on revenue of $32.23 billion, compared with net income of $909 million on revenue of $27.48 billion in the previous fiscal year.

Johnson Controls, of Milwaukee, generates more than two-thirds of its business from its automotive interiors and batteries units. The company said its automotive interiors unit posted operating income of $500 million for the past year, down 21 percent from a gain of $632 million during the previous year. Total revenues declined 3 percent to $18.27 billion for the year.

Lear improves in 3rd quarter

DETROIT - Lear Corp. said it posted a net loss of $74 million on revenue of $4.07 billion during the quarter ending Sept. 30. That compares with a loss of $750.1 million on revenue of $3.99 billion during the same quarter a year ago.

For the first nine months of the year, the suburban Detroit auto supplier said it posted a net loss of $62.5 million on revenue of $13.56 billion, vs. a loss of $778.9 million on revenue of $12.69 billion during the same period of 2005.