Earl Scheib Sold to Elden Holding Group
Automotive paint shop chain Earl Scheib Inc. has been sold to Elden Holding Group LLC for $17 million in cash. Elden Holding Group is a California-based real estate investment firm.
SPX Contech Wins $18 Million in New Business
Contech, a unit of SPX Corp., has received several new die-cast projects, with an estimated annual revenue of approximately $18 million. Production of each of the five new components will launch by January 2006.
Monro Muffler Brake Announces Fourth Quarter and Record Full Year Results
Monro Muffler Brake has announced its financial results for the fourth quarter and year, which ended on March 27. The company said the results were in line with the previously announced expectations. Full year sales increased 8.3 percent to $279.5 million from $258 million in fiscal 2003, driven by a 4.7 percent increase in comparable store sales. New stores added $10.9 million, including $3.5 million from the newly-acquired Mr. Tire stores. The company attributed comparable store sales results to an approximate 16 percent increase in scheduled maintenance, a 6 percent increase in brake sales and a 19 percent increase in commercial sales.
As U.S. Gas Prices Rise, Pep Boys Offers Tips to Help Customers Improve Fuel Efficiency
As gas prices reach $2 per gallon or more in some regions, Pep Boys is using this as an opportunity to inform consumers about ways to improve fuel efficiency of vehicles.
Auto Trim Market Seen Growing
CSM Worldwide of Michigan Wednesday predicted the North American automotive interior trim market will grow to more than $10 billion by 2009.
Appearance Accessories Capture More of Market
Over the past eight years, appearance/body accessory products have shown the largest growth of any product group in the industry, increasing 96.4 percent. Following closely is custom wheels, with performance chemicals in third place.
Leadership for Change
This week we start a series of articles on the subject of leadership for change. Whether you’re a senior executive whose goal is to transform the entire organization, or a first-time manager trying to improve your department’s performance, we think you’ll find something useful.
Federated Auto Parts Announces “Vendors of the Year”
Federated Auto Parts announced its 2003 “Vendors of the Year” at its annual meeting held May 12-15 in Salt Lake City. The awards were presented by Federated Chairman of the Board Bo Fisher and Rusty Bishop, Federated CEO, at the awards luncheon held May 14.
Hella Forms Minority Joint Venture With Craft-Co
Hella North America and Craft-Co Enterprises, Inc. have formed ILUMA, a minority-owned joint venture to supply automotive interior-lighting systems.
Advance Auto Parts Reports Record First Quarter 2004 Results
Advance Auto Parts has announced its revenue and earnings for its first quarter, which ended on April 24.
Registration for 2004 SEMA Show Begins
SEMA, the Specialty Equipment Market Association, has launched online registration for the 2004 show. The 2004 SEMA Show will take place Tuesday, Nov. 2, through Friday, Nov. 5, at the Las Vegas Convention Center.
Goodyear Releases 2003 Financial Results
Despite record sales of $15.1 billion and some bottom-line improvements, Goodyear Tire & Rubber yesterday reported a full-year 2003 net loss of $802.1 million or $4.58 per share. The 2003 net loss also included a -$56.2 million restatement for the year, part of a total of $164.8 million in additional net losses over the 1997-2003 period.