Despite record sales of $15.1 billion and some bottom-line improvements, Goodyear Tire & Rubber Co. 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...
Timken Latrobe Steel, a subsidiary of The Timken Co., has announced it will increase prices by 5 percent on high speed steel products. The price increase will take effect with new orders received beginning June 1. The company said raw material surcharges will remain in effect.
Clevite Engine Parts recently launched the Clevite Engine Builder Club, a new, one-of-a-kind club aiming to further the professional careers of engine builders across the country and around the world.
Oxford Automotive, Inc. announced the closing of the sale of its manufacturing facility located in Ramos Arizpe, Mexico for approximately $40 million (including $3 million to be held in escrow). Pending investment of the net proceeds in capital assets, the company has applied the funds to reduce the amount currently...
Michelin has decided to buy a 10 percent stake in PT Gajah Tunggal (GT), a tire manufacturer and distributor located in Southeast Asia.
An important tool for protecting the coveted trademarks of aftermarket companies is to record registered trademarks with the U.S. Customs Service. U.S. Customs only has authorization to seize shipments that infringe on recorded trademarks, copyrights and trade names. By recording trademarks with customs and by working closely with the agents...
Workers at the Timken Co. can spin magic with bearings, crafting superb tapered bits of metal tinier than grains of sand and 9-ton sculptured steel behemoths. The friction-reducing bearings let cars, sport utility vehicles, railroad engines, space satellites, computer disk drives and even missile guidance systems function. But for all...
The U.S. Environmental Protection Agency (EPA) has issued a final rule on National Emission Standards for Hazardous Air Pollutants (HAP) for automobile and light-duty surface coating operations. The EPA says the new rule will protect air quality and promote public health by reducing emissions of hazardous air pollutants. The rule...
On May 13 at its board of directors meeting, The Yokohama Rubber Co. announced changes in directorships and the introduction of the position of “corporate officer.” The changes will become effective upon approval at a shareholders meeting scheduled for June 29. Hisao Suzuki, vice president, representative director, will retire from...
Visteon has taken a major step forward in the growth of its aftermarket division with the launch of the GlassVantage Auto Glass Professional Network. The Visteon GlassVantage Network is comprised of a select network of high-quality auto glass replacement professionals offering and installing Visteon Performance Windshields in assigned geographic territories.
