Hopkins Manufacturing Sold to Private Equity Firm
Emporia, Kan.-based Hopkins Manufacturing has been acquired by Friend Skoler & Co., LLC, a private equity firm that invests in leading companies in the smaller end of the middle market. Founded in 1953, Hopkins is a leading manufacturer of specialized towing products and functional accessories for the automotive and recreational vehicle aftermarkets. The company will continue under the management of Hopkins President Bradley Kraft and his senior management team, said Steven Skoler, managing partner of Friend Skoler & Co.
Leadership for Change: Key Advice for Middle Management Champions
Over the last two months, we have covered the topic of change leadership from a variety of angles. Our goal has been to offer practical advice from 25 years of experience in mentoring successful executive-level change agents. But what do you do if you are a middle manager?
Time is Running Out: Get Your Company Listed in aftermarketNews.com’s Free Online Manufacturer’s Rep Directory
Time is flying by. Don’t miss your opportunity to see your company listed in aftermarketNews.com’s free online Manufacturer’s Rep Directory. Developed as an added service for our subscribers, the new i>aftermarketNews.com online Manufacturer’s Rep Directory will feature important and useful information about manufacturer’s rep firms across North America.
AutoXray and Actron Manufacturing Settle Legal Suit
AutoXray, Inc. and Actron Manufacturing, makers of automotive diagnostic equipment, have jointly announced a settlement of all disputes related to the lawsuits they filed against each other in federal courts in Ohio and Arizona. As part of the settlement, Actron has become a licensee of AutoXray’s patented scan tool technology. While the terms of the settlement are remain confidential, both sides report to be mutually satisfied with the agreement.
ASA Announces Two New Partnerships
The Automotive Service Association (ASA) has announced two new partnership agreements with the Automotive Service Councils of California and the Florida Automotive Trades Association. The opportunity for industry groups to participate in such partnerships is a result of ASA’s strategic plan, according to Ron Pyle, ASA president and chief staff executive.
American Axle & Manufacturing Dedicates its New World Headquarters
American Axle & Manufacturing (AAM) dedicated its new world headquarters in Detroit, Mich., this week. Constructed at a cost of more than $40 million, the new 250,000-square-foot building will serve as home to the company’s corporate offices and 628 AAM associates and executives from engineering, finance, human resources, legal, procurement, sales, marketing and manufacturing.
Beck/Arnley Partners with Performance Warehouse
Performance Warehouse, a wholesale distributor of automotive parts and accessories in the Pacific Northwest, recently added the Beck/Arnley import replacement program to its offering. Performance Warehouse has locations in Portland, Ore., and Tacoma, Wash., as well as 14 Baxter Company stores throughout the Northwest.
Cooper Tire Announces Third Price Increase This Year
Cooper Tire & Rubber Co. informed its dealers July 23 that it would raise prices for all of its tire lines by as much as 5 percent, effective Oct. 1. Tom Datillo, Cooper chairman, president and CEO, said the increase — Cooper’s third this year — was necessary to help offset the rising cost of raw materials.
Standard Motor Products Announces Second Quarter 2004 Earnings and a Quarterly Dividend
Standard Motor Products has reported its consolidated financial results for the three months and six months, which ended on June 30. Consolidated net sales for the second quarter of 2004 were $235 million, compared to consolidated net sales of $166.1 million during the comparable quarter in 2003. Earnings from continuing operations for the second quarter of 2004 were $7.5 million or 38 cents per diluted share, compared to $4.3 million or 34 cents per diluted share in the second quarter of 2003.
ABRA Announces Management Reorganization
ABRA Auto Body & Glass, a national damaged vehicle repair company based in Minneapolis, has reorganized its executive management team. ABRA Auto Body & Glass, a national damaged vehicle repair company based in Minneapolis, has reorganized its executive management team. Replacing Adelmann as COO is Glenn Mahoney, who joined ABRA on July 20.
Wheel Pros Implements ASA Tire Reporting Software
ASA Tire Systems, a software developer for the tire industry, announced that it has successfully deployed its business intelligence software system Analytix throughout the Wheel Pros organization. Tire and wheel dealer Wheel Pros will use the software at its 19 warehouses across the U.S.
Manufacturing Mass Layoffs Edge Up
The number of mass layoffs in U.S. manufacturing rose slightly to 222 in June from 219 in May, the U.S. Department of Labor reported July 22. The number of workers affected rose as well, increasing to 27,307 in June from 22,141 in May. The department defines monthly mass layoffs as a loss of jobs affecting 50 or more workers from a single establishment. The number of workers affected is calculated from new filings for unemployment insurance benefits.