The audit committee of Transpro’s board of directors has appointed the accounting firm BDO Seidman, LLP to serve as the company’s independent registered public accounting firm for the year ending Dec. 31. BDO Seidman, LLP, which replaces PricewaterhouseCoopers LLP, will begin its engagement with a review of the financial results for the three and nine month periods ending Sept. 30.
Edelbrock Corp. has revised its earnings for the quarter, which ended June 30, as previously reported on Sept. 10. The revised results will be reflected in the company’s annual report on Form 10-K which was filed yesterday, Sept. 28.
Siemens VDO Automotive Partners With Freescale Semiconductor in Global Electronics Components Supply Agreement
Siemens VDO Automotive and Freescale Semiconductor have renewed their global supply relationship. Siemens VDO Automotive has awarded Freescale approximately $245 million in new business, to supply electronics components, such as ASIC, microcontroller, analog and sensor components, over the lifetime of product starting in 2006.
The Timken Co. recently named Brian Walters as its new director of heavy-duty sales. In this position, Walters will be responsible for sales to the original equipment heavy-duty industry for Timken’s automotive division. Walters has been with Timken for more than 25 years, serving in a variety of marketing and sales positions. Most recently, he served as manager of global business development.
Lund International recently appointed Brian Wiland as its new sales director, responsible for the company’s Midwest territory. Wiland will be based in Detroit, Mich. In his new role, Wiland will be responsible for servicing accounts within the traditional warehouse distribution channel as well as managing a team of sales representatives.
R. L. Polk & Co. has named Todd Fleischhauer as general manager, R. L. Polk Canada, Inc. In his new position, Fleischhauer will be responsible for managing Polk’s activities in Canada including vehicle registration reporting, automotive intelligence and analysis and marketing solutions. Fleischhauer replaces Kendra Rawls who becomes vice president, Northern Europe at Polk’s location in St. Albans, U.K.
The Motor & Equipment Manufacturers Association (MEMA) has named Bob McKenna as its new president and CEO. The appointment is effective October 1. McKenna, who has 35 years of aftermarket industry experience, comes to MEMA from Atlanta-based Genuine Parts Company (GPC) where he served as group vice president and chairman of the board for the National Automotive Parts Association (NAPA).
The European Commission (EU) has given Canadian automotive parts manufacturer Magna International Inc. clearance to acquire New Venture Gear from DaimlerChrysler AG, according to a report from AFX News. New Venture Gear is a manufacturer of transfer cases, which ensure power is delivered to all four wheels on a vehicle. The business purchased earlier this year from the DaimlerChrysler Group for $435 million.
While market share for U.S. automakers nears an all-time low, falling below 60 percent, the same companies are gaining ground in the high-end market. According to the second annual report on the best new vehicles for CEOs — sponsored by Chief Executive magazine and Edmunds.com, an online resource for automotive information — domestic vehicles fare better than their Asian competitors, while European automakers continue to dominate this part of the market.
How do the top performing companies measure success within their new supply chain operating models? Traditionally, supply chain models have sought a trade-off between three strategic values: order-to-delivery cycle time and predictability, cash-to-cash velocity and revenue and margin contribution. These outcomes are opposing forces; optimizing one can result in a negative affect on the others.
Beginning on Oct. 14, the common stock of Modine Manufacturing Co., a developer and supplier of thermal management solutions for diversified markets, will be listed and traded on The New York Stock Exchange (NYSE) under the new ticker symbol “MOD.” “This is a significant and exciting step in our company’s 88-year history,” said David Rayburn, Modine president and CEO. “We think there are many good reasons to move to The New Stock Exchange at this time.”
Following the news last month that KPMG LLP had resigned as its independent accountants, Standard Motor Products announced yesterday that it has already found a new replacement. Standard Motor Products’ Board of Directors has engaged Grant Thornton LLP as the company’s new independent registered public accounting firm, effective immediately, for its fiscal year ending Dec. 31.