Auto Parts Maker Linamar Nearly Doubles Third Quarter Profit
Linamar Corp. reported a near doubling of profits in the third quarter Wednesday as the auto parts maker enjoyed a large jump in revenues from North American parts components sales. The Guelph, Ontario-based company said Wednesday it earned $24.9 million or 28 cents a share for the three months ended Sept. 30. That compared with a profit of $12.7 million or 21 cents a share last year. Revenues soared to $478.7 million from $366.8 million.
Study Shows Stability Systems Saves Lives
According to an insurance industry study, stability control systems could save more than 7,000 lives a year if they were standard equipment on all vehicles. The study, conducted by the Institute for Highway Safety, found the greatest safety benefit for single-vehicle crashes that result in a fatality.
Study Shows Stability Systems Saves Lives
According to an insurance industry study, stability control systems could save more than 7,000 lives a year if they were standard equipment on all vehicles. The study, conducted by the Institute for Highway Safety, found the greatest safety benefit for single-vehicle crashes that result in a fatality.
Visteon Mulls Changes
Ford Motor Co. is waiting for Visteon Corp., the automaker’s former parts unit, to decide on revamping its business before discussing any help for the supplier, chief executive Bill Ford said. Visteon needs “to decide strategically what businesses they want to be in,” Bill Ford told reporters after a speech Wednesday in Washington. After that, “we’re willing to sit down with them and to say where we can be helpful. But we’re not Santa Claus,” he said.
Delphi Delays Quarterly Financial Report
Delphi Corp. said Wednesday it was postponing a quarterly financial report because of a federal investigation of $148 million in dealings with Electronic Data Systems Corp. (EDS) and another information technology company. Troy, Mich.-based Delphi, a former General Motors Corp. division and the world’s largest auto parts supplier, disclosed Sept. 29 that the Securities and Exchange Commission was investigating its dealings with EDS, also a former GM division.
Paul Foley Honored by the University of the Aftermarket
Paul Foley, vice president of AASA, MEMA’s aftermarket segment association, was presented the Founder’s Service Award by Northwood University’s University of the Aftermarket, on Nov. 1 during AAPEX.
DST Challenges Industry to Provide Improved Technology Solutions; Unveils New Suite of Product at AAPEX
At a press conference held in Las Vegas last week at AAPEX 2004, DST, a leading automotive parts distribution solutions provider, challenged software providers to provide the automotive industry with improved technology solutions. DST made this challenge in conjunction with the launch of its new DST iEnterprise suite of applications.
Valvoline Recalls Brake Cleaner and Brake Parts Cleaner
The U.S. Consumer Product Safety Commission (CPSC) and Valvoline have announced a voluntary recall of Pyroil Brake Parts Cleaner and NAPA Brake Cleaner. More than 2.8 million cans of the cleaners are being recalled due to a defect in the spray valve.
Goodyear Reports $36.5 Million 3Q Net Income; North American Unit Volumes Stable
The Goodyear Tire & Rubber Co. reported net income of $36.5 million (21 cents per share) for the third quarter of 2004. The tiremaker experienced growth in both sales and unit volume.
Don’t Miss It – How to Redesign Supply Chains
The second course in the University of the Aftermarket’s Automotive Aftermarket program in Supply Chain Management – developed in conjunction with the Automotive Aftermarket Suppliers Association (AASA) is set for Wednesday, Dec. 1, and Thursday, Dec. 2. The program will be hosted by Federal-Mogul Corp., Southfield, Mich.
Brake Parts Inc. Announces Plans for Motorsports Involvement in 2005
Brake Parts announced this week that it plans to continue its long-standing involvement with motorsports programs throughout 2005, to further build brand recognition and loyalty for its Raybestos brand brakes. According to Larry Hoofnagle, director of marketing communications, these programs play an important role in maintaining an awareness of the Raybestos brand with brake service professionals and consumers.
Cooper Standard Auto Opens Facility in China
Cooper Standard Automotive, a global supplier of automotive components, has begun operations in Kunshan, China, for the manufacture and sales of automotive noise, vibration and harshness (NVH) control systems. The company will soon break ground for an expanded manufacturing, research and development facility in the city.