Edelbrock 2004 Catalog Now Available
The new 2004 Edelbrock Catalog for American Cars & Trucks is now available. Sporting a historic cover shot of Vic Edelbrock Jr. with his father’s just-restored ’32 Ford Roadster, the new catalog has 244 pages of automotive parts including manifolds, shocks, cylinder heads, fuel pumps, carburetors, camshafts, headers, crate engines, etc. It is also the company’s largest catalog to date.
Former Dow Engineering Plastics Executive Joins Penda Corp.
International plastics executive Ulf Buergel has been appointed president and COO of Penda Corp., a leading manufacturer of light-truck bedliners. Buergel joins Penda following a 20-year career with The Dow Chemical Co. in Midland, Mich.
Wix Filters Gives NASCAR Drivers Added Incentive
WIX Filters is giving NASCAR series drivers yet another reason to get ahead of the pack on race day — the WIX Filters Lap Leader Award. Starting with the 2004 racing season, the award program extends through December 31, 2010. The WIX Filters Lap Leader Award includes cash payouts and an award trophy/plaque that will be presented during pre-race ceremonies at each event, as well as a year-end payout and a trophy for the driver who leads the most races with the most laps for each series.
R&B Reports Sales and Earnings for the Fourth Quarter and Full Year
Automotive replacement parts supplier R&B has announced financial results for the fourth quarter and year, which ended December 27, 2003. For the fourth quarter, sales increased 1 percent to $55.6 million from $55.1 million in the same period last year. Net income in the fourth quarter of 2003 was $3.8 million compared to net income of $3.5 million in the same period in 2002. Diluted earnings per share in the fourth quarter increased 8 percent to $0.42 from $0.39 in the same period last year.
UTI Appoints Two New Directors
Universal Technical Institute (UTI) has appointed two new directors. Conrad Conrad and Kevin Knight will serve as members of UTI’s audit committee, with Conrad serving as chairman of the audit committee. These appointments bring the membership of UTI’s board of directors to seven.
DENSO Announces Third-quarter Financial Results
DENSO Corp., parent company of Southfield, Mich.-based DENSO International America, announced global financial results for the third quarter, which ended Dec. 31, 2003. The company reported consolidated net sales of $6 billion, which totaled 53 percent of the company’s original estimate at the interim period of $11.3 billion, for the latter half year ending March 31, 2004. Operating income totaled $578.5 million, and operating margin was 9.7 percent, 74 percent of the original latter-half year estimate of $779.4 million.
Myers Industries Reports Fourth Quarter and Fiscal Year 2003 Results
Myers Industries announced net sales of $176,507,020 for the fourth quarter of 2003, the highest of any quarter in the company’s history. This is an increase of 11 percent from $159,331,205 reported in 2002. Net income was $4,350,446, an increase of 8 percent from $4,044,157 for the fourth quarter of 2002. Net income per share was 14 cents, an increase of 8 percent from 13 cents earned in the fourth quarter of 2002. Favorable foreign currency translation accounted for $7.4 million of the sales increase but did not have a material impact on net income for the quarter.
Executive Interview with Jim Taylor, CEO of Thomas Group
Our latest edition of “Executive Interview” features Jim Taylor, CEO of the Thomas Group. Taylor joined the Thomas Group in 2001 as vice president and CFO. From 1997 to 2001, Taylor served as president of the Chancellor Group, a Dallas, Texas, management consulting firm, where he assisted companies in restructuring, raising funds and completing initial public offerings. Join us as Taylor tells us more about the Thomas Group culture and how it works for its clients.
The Systems House integrates TSH Vision with Wrenchead Electronic Parts Catalog
The Systems House (TSH) has completed integration of its TSH Vision aftermarket enterprise system with the Wrenchead Electronic Parts Catalog, becoming a certified value-added reseller of the Wrenchead Catalog and Part Interchange. The TSH Vision integration delivers Wrenchead’s database in a Windows-based graphical user interface to two- and three-step aftermarket distributors that use TSH Vision to source parts, process orders and manage inventory.
Timken to Become NASCAR Contingency Sponsor
Timken has signed on as a contingency sponsor of the NASCAR Busch Series for three years, beginning with the 2004 season. The Hershey’s Kisses 300 at Daytona International Speedway, which took place last weekend, was the first time the Timken logo appeared on multiple NASCAR stock cars.
Delphi Continues Relationship with Hendrick Motorsports for 2004
Delphi is continuing its relationship with Hendrick Motorsports by becoming a major associate sponsor of the No. 5 Chevrolet in the NASCAR NEXTEL Cup Series, beginning this weekend with the Daytona 500 in Daytona Beach, Fla. The sponsorship is in association with Kellogg’s for the No. 5 NASCAR driven by two-time Winston Cup champion Terry Labonte.
Bandag Acquires Majority Interest in Speedco
Bandag Inc. has acquired an 87.5 percent majority interest in Speedco Inc. from its founders and Shell Oil Products US. Headquartered in Cuyuga, Ind., Speedco provides quick-service truck lubrication nationwide through 26 company-owned and six licensed on-highway locations. Bandag will operate Speedco as an independent business unit.