Goodyear Reports Second Quarter Results
Posting record quarterly sales and an increase in tire unit volume sales, Goodyear Tire & Rubber Co. finished the second quarter of 2004 on an upswing, earning its first quarterly net profit in a few years. And its struggling North American Tire division posted its first quarterly profit in eight consecutive quarters.
Spectra Premium Concludes the Acquisition of Trimag
Spectra Premium Industries Inc. (SPI), a North American manufacturer of automobile, light-truck and heavy-duty truck aftermarket parts, has completed its acquisition of a 90 percent of interest in Trimag, L.P. Investissement Quebec will own the other 10 percent of interest in Trimag.
Snap-on Announces Second-Quarter 2004 Results
Snap-on has announced results for the second quarter of 2004. The company reported diluted earnings per share were 38 cents, the same as they were a year ago.
Polk Announces Creation of New Award
Amidst the tips and techniques talked about at this year’s Aftermarket eForum, one company made it known that it wants to celebrate the successes as well. Yesterday, during the eForum conference in Chicago, automotive information solutions provider, R. L. Polk & Co. announced the creation of a new award.
Midas Returns To Profitability
Midas has reported net income of $2.6 million — or 16 cents per diluted share — for the second quarter, which ended on July 3. This marks company’s first quarterly net income since the third quarter of 2002. Last year, Midas reported a second quarter loss of $32.7 million — or $2.10 per diluted share — after business transformation charges of $50.8 million — or $1.99 per share — for establishment of an accrual for warranty obligations, asset write-downs and employee severance costs related to the company’s shutdown of its wholesale distribution system.
Cooper Appoints Keller to Head Motorsports Program
Cooper Tire & Rubber Company has named James Keller to vice president, competition and enthusiast products, effective August 15.
DENSO Announces First-Quarter Financial Results
DENSO Corporation announced its global financial results for the first quarter ended June 30, 2004.
Collaboration: We All Know What the Word Means, But Are We Doing it?
While he admits the word is a bit overused in our industry, Scott Luckett, chair of the 2004 Aftermarket eForum conference, told the crowd of more than 350 attendees at this year’s eforum that “More than anything else, this conference is about collaboration.”
Goodyear Receives Military Aircraft Tire Development Grant
The Goodyear Tire & Rubber Company will receive $2.25 million under the defense appropriations bill, passed last week by the U.S. Congress. The grant will fund research and development on the next generation of aircraft tires to be used on the nation’s new Navy and Air Force joint strike fighter jets.
i*SHOP Announces the Release of Version 2.0 Specification
The Automotive Aftermarket Industry Association (AAIA) announced the release of the i*SHOP version 2.0 specification, marking a significant advance in the industry standard for the interoperability of shop equipment and systems.
AutoZone Offers Future Technician Scholarship
AutoZone, the nation’s leading auto parts retailer, has announced the distribution of the “AutoZone Future Technician Scholarship.” The $10,000 automotive industry-focused scholarship was divided incrementally to gold, silver and bronze medal winners of the SkillsUSA National Championships Automotive Service Technology competition held in Kansas City, Mo., on June 23, 2004.
AAIA Announces Opening of IPO Web Portal; ARI Sponsors Testing Facility
The Automotive Aftermarket Industry Association (AAIA) announced the opening of a new collaborative Web portal. This new service is available to test compliance with the AAIA Internet Parts Ordering (IPO) standard.