Standard Motor Products (SMP) takes the top spot today in our round-up of the most significant industry news to make headlines this week. On May 1, SMP announced it acquired Dallas, Texas-based Compressor Works for $37.4 million. The company, which manufactures and distributes a range of temperature control products including new compressors, fan clutches and other A/C system and engine cooling products, had 2011 revenues of roughly $60 million. The company was started in 1999. This is SMP’s third acquisition in just over a year’s time.
In other top news this week, Advance Auto Parts announced the launch of its new Wearever Platinum premium ceramic brake pad line. Wearever Platinum features Advance’s exclusive SoundLock Plus technology, which uses a four-layer shim, designed specifically for silent braking. SoundLock Plus’s diamond-patterned outer rubber layer locks in sound, premium-grade inner steel adds rigidity, a second inner rubber layer further suppresses noise and an acrylic adhesive layer absorbs vibration. Advance says the new pads were proven in independent third-party tests "to deliver a quieter stop and better stopping power than other leading brands."
Management changes at DENSO also ranked high with AMN readers this week. The Kariya, Japan-based corporation announced a series of changes to its board of directors and executive directors, which will take effect after the company’s 89th Annual General Meeting of Shareholders on June 20.
In other personnel news this week, Deeza Chassis Parts announced that Health Breedlove has been appointed as the company’s new vice president of sales and marketing. In this role, he will head the company’s sales and marketing activities in the U.S. and Canada, to create new distribution channels and grow sales in traditional WD customers, program groups and retail business models. He will serve on the company’s executive committee and will report to Deeza President Gokhan Kuru. Breedlove joins Deeza from Beck/Arnley, where he served as vice president of sales, as well as vice president of retail and program group sales. He also has prior experience at GPI/CARQUEST and WIX.
Last in our recap of the week’s top news, we learn that the sale of Schrader International is now complete. Madison Dearborn Partners Global and certain affiliated investment funds (Madison Dearborn) and members of Schrader’s management team have, through a new company formed for such purpose, acquired Schrader from Tomkins Ltd. Schrader is a leading global manufacturer of sensing and valve solutions including Tire Pressure Monitoring Systems (TPMS) and fluid control components. Schrader’s products can be found on more than half of all global vehicle platforms fitted with direct TPMS, and throughout the growing automotive aftermarket.
