Former Urda Exec Forms New Aftermarket PR Agency
Kristen Simpson, former executive at Akron, Ohio-based PR agency Urda Co. (now Urda-Roberts), has launched Simpson Communications LLC. The new public relations agency, based in Shaker Heights, Ohio, will specialize in business-to-business communications for the automotive aftermarket. Simpson Communications will offer a full range of public relations services, including new product launches, press events, media relations, copywriting, strategic planning, event management and internal communications.
U-Haul Bars Trailers for Explorers
U-Haul International, North America’s largest trailer company announced yesterday that it will no longer allow trailer rentals for Ford Explorers, the popular SUVs which have been involved in numerous rollover crashes in recent years. U-Haul said the decision was not based on safety concerns, but due to the excessive costs of defending liability lawsuits related to the vehicle.
Lear Bases Rosy Outlook on Economy, New Sales
Auto-interiors supplier Lear Corp. said Thursday it would grow its profit in 2004 as the company reaps the benefits of new business and an improving economy. Lear, in a presentation with analysts in conjunction with the North American International Auto Show, said it expects to earn $5.85 to $6.25 per share this year, in line with the analyst consensus estimate of $6.11. The forecast also beats the 2003 earnings-per-share consensus estimate of $5.51.
Automakers Tailor Ads to Woo Minorities
The auto industry increasingly is targeting the black, Hispanic and Asian American communities with tailored advertising, as the buying power of minorities grows, according to a recent report in the Seattle Post-Intelligencer Reporter . Companies are now beginning to create ads that speak to specific audiences, placing them in targeted media outlets. According to Randi Payton, publisher of the magazines African Americans on Wheels and Latinos on Wheels, this increased attention to diversity is even making its way into the design of cars, as automakers tailor products to lifestyle choices.
Thomas Group Names New CEO
Professional services firm Thomas Group has named James “Jim” Taylor CEO and president of the company, effective Jan. 13. Taylor succeeds John Hamann as CEO. For the last three years, Taylor has served as Thomas Group’s executive vice president and CFO. He has been credited for successfully returning Thomas Group to profitability following the 2001 consulting industry downturn and global recession. Taylor will remain CFO on an interim basis while assuming his new responsibilities.
Motor Industry Chiefs See More Mergers and Acquisitions Ahead, Especially in Asia
Automotive executives are losing their taste for strategic alliances and expect to see an increase in mergers and acquisitions in the industry over the next five years, particularly in Asia, according to the results of the fifth annual survey of the automotive industry by consultancy KPMG LLP. Consolidation was seen as occurring globally, but respondents in particular focused on Asia, where 73 percent said they expect an increase. Sixty percent pointed to an increase in Europe, while 50 percent of those polled saw stepped up M&A activity in North America.
Bridgestone Americas’ Lampe To Retire
John Lampe, chairman, CEO and president of Bridgestone Americas Holding, who led the company’s remarkable recovery after devastating tire recalls in late 2000 and early 2001, announced today that he is retiring effective Mar. 31. He will be succeeded as chairman and CEO of BAH by Mark Emkes, currently chairman, CEO and president of Bridgestone/Firestone North American Tire (BFNAT). Lampe announced his retirement this afternoon during a company-wide live Web cast and conference call. In addition, Lampe and Emkes granted Tire Review an exclusive in-depth interview about the retirement and the company’s future plans earlier this morning.
Transpro Named NAPA Branded Radiator Supplier
Transpro has been named supplier of a new radiator program for NAPA. Under the agreement, Transpro will supply NAPA with a radiator program that will offer a selection of popular radiator models covering a variety of automotive and light truck applications. Transpro will begin shipping product to NAPA this month, and the program will be rolled out to the NAPA distribution system in February.
Hawk Corp. Announces Restructuring Plan
Hawk Corp. has initiated a new plan to focus on its two primary business segments — friction products and precision components, in an effort to improve the company’s global competitive cost position and support long-term growth initiatives in these segments. As part of the repositioning plan the company intends to achieve cost savings at its friction products segment by moving operations at its Brook Park, Ohio, location to a new U.S. production facility. Hawk also said it plans to sell its motor segment and engage the services of an investment banker to advise the company as it reviews strategic alternatives relating to Hawk’s Tex Racing business unit.
Tenneco Automotive’s Walker Brand Launches Program to Boost Shops’ Exhaust Margins
Tenneco Automotive, manufacturer and marketer of Walker exhaust products, has launched a new product marketing and merchandising initiative designed to help shops recapture lost margins. At the heart of the program is an all-new Walker premium replacement muffler – the Quiet-Flow3 – which the company says delivers the precise sound, fit and guaranteed durability that is preferred by owners of late-model domestic and import vehicles.
Brake Parts Inc. Names VP of Sales for Branded Products
Brake Parts Inc. has promoted Mike Fiorito to the position of vice president of sales – branded products. As part of its continuing focus on customer relationship management, the company is combining the leadership of its branded sales groups, according to Charlie Westmoreland, senior vice president of sales.
Start Planning for National Car Care Month Now
For the second year, National Car Care Month will be held in April, providing tremendous opportunities to communicate with female consumers. That’s the word from the organizers of the Bluegrass Car Care Clinic in Lexington, Ky. For 15 years, the Professional Master Technician’s Association (PMTA) in Lexington, along with the Kentucky Indiana Automotive Wholesalers Association (KIAWA), have held vehicle check lane events during National Car Care Month (NCCM).