American Axle Shares Rise on Upgrade and Tenneco Awarded First Development Contract For Complete SCR Diesel Aftertreatment System Featuring Newly Acquired NOx Reduction Technology
City of Industry, CA --(www.USEquityNews.com)-- 10/30/2007 - Automotive Technology industry alert provided by U.S. Equity News. Shares of American Axle & Manufacturing Holdings Inc. (NYSE: AXL) surged recently on analyst predictions that upcoming cost savings and new business wins will drive the auto supplier's shares higher. In afternoon trading, American Axle shares rose $2.73, or 11.5 percent, to $26.46, after peaking at $26.75 earlier in the session. Over the past 52 weeks, the company's shares have traded between $17.33 and $31. KeyBanc analyst Brett D. Hoselton upgraded American Axle to "Aggressive Buy" from "Buy," and boosted his price target by $4 to $34.
China Automotive Systems Inc. (NASDAQ: CAAS), a power-steering components and systems supplier, said recently it formed a new Chinese subsidiary to focus on Chinese joint ventures and help to penetrate global markets. Over the next three years, China Automotive expects to invest about $30 million in Jingzhou Hengsheng Automotive Systems Co. The unit is based in the same city as the parent company in Jingzhou City, China.
Tenneco Inc. (NYSE: TEN) announced recently it has been awarded its first development contract for a completely integrated selective catalyst reduction (SCR) diesel aftertreatment system featuring its recently acquired ELIM-NOx(TM) technology. The development contract is between Tenneco's venture in Shanghai and a major Chinese commercial vehicle engine manufacturer. The ELIM-NOx(TM) system is designed to reduce Nitrogen Oxides (NOx) emissions by 70 to 90 percent using current SCR technology.
PTA Holdings, Inc. (OTC: PTAH) recently announced that it executed a Letter Of Intent with US Boron, LLC ("USB"), a major chemical lubricant manufacturer that supplies specialty lubricants to heavy industry and manufacturing, to form a Joint Venture to develop and market Mileage Enhancement Modification Packages for internal combustion engines. The Joint Venture will be called Mileage Management Corp. ("MMC") and PTA will license its proprietary V-Flow Fuel Maximizer for use in this package. For the full StocksJournal CFA report, please visit, http://www.stocksjournal.com
About U.S. Equity News
U.S. Equity News provides information, resources and news services for investors of small-cap, micro-cap and emerging companies. U.S. Equity News distributes RSS news feeds and a free subscription-based newsletter available through its website at www.usequitynews.com.
U.S. Equity News is a financial news distribution service by Equity Solutions, Inc. (www.equityirsolutions.com) that provides a platform for public companies to disseminate important news to key Wall Street interest such as shareholders and new investors. Equity Solutions, Inc. can assist by providing an effective increase in the awareness of a public company's news, development and corporate story through its proprietary network and its financial portal. U.S. Equity News and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.USEquityNews.com
Contact Information:
U.S. Equity News
Tel: (626) 961-8039
Email: info@usequitynews.com
| EMAIL THIS RELEASE |
Featured Clients
Market News Update