Our weekly recap of top industry news begins with speculation from BB&T’s Tony Cristello that MPA’s pending acquisition of Fenwick will be the leading influence on the company’s stock price. MPA has said that it expects to complete the acquisition this spring. Full integration of the Toronto-based supplier of new and reman products is expected to take 12 to 18 months from the time of closing, and would require roughly $10 million in cash restructuring. Cristello said he believes MPA’s pending acquisition of Fenwick Automotive is likely to remain the largest driver of MPA’s stock price, saying the transaction would likely more than double the company’s revenue base and provide numerous opportunities for cost savings and synergies.
In other news from the manufacturing sector this week, Federal-Mogul made headlines on a number of occasions, including for the introduction of its new National “Red” 37 series oil seal for heavy-duty applications. The new product will be available in March through leading commercial-vehicle parts distributors.
Federal-Mogul also this week announced the launch of its 2011 Smart Choice campaign. The program begins this year with a mail-in rebate offer on market-leading Wagner ThermoQuiet brake pads and shoes. From Feb. 23 through May 31, consumers can receive a rebate of up to $50 per brake job when they choose Wagner ThermoQuiet products.
In the distribution segment this week, leading tool & equipment and PB&E distributor MEDCO announced that Todd D’Angelo has joined the company as vice president and general manager for the Western Region. D’Angelo also was named a member of the MEDCO Executive Committee and will report directly to MEDCO President Andrew Keim.
Most recently, D’Angelo was with D’Angelo’s/Angel Warehouse, with locations in Oxnard and Pacoima, Calif., where he served in such positions as general manager, executive vice president of sales and president.
Additional personnel announcements this week came from MAHLE Clevite, where Ted Hughes was promoted to manager marketing from his prior position as marketing team leader program development for the company. Hughes is approaching 11 years of service to MAHLE Clevite in various marketing roles.
You can also learn a little more about Ted in our new “Five Minutes With” series, in which he was recently featured.