Clevite Launches New Engine Builder Club
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. Sells Mexican Plant and Amends Credit Agreement
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 outstanding under its revolving credit facility.
Transportation Secretary Mineta Launches Traffic Safety Partnership with NASCAR
U.S. Transportation Secretary Norman Mineta and NASCAR President Mike Helton have joined forces in launching a new traffic safety alliance with the racing league aimed at saving the lives of everyday drivers on America’s roads. Secretary Mineta made the announcement while in Richmond, Va., appearing as the grand marshall of NASCAR’s running of the Chevy American Revolution 400.
Holley NHRA National Hot Rod Reunion Gives Bowling Green $3.5 Million Economic Boost
When participants and fans cruise into Bowling Green, Ky., for the June 18-20 Holley NHRA National Hot Rod Reunion, they’ll bring their hot rods, cool cars…and their wallets. It’s estimated the Reunion, presented by DuPont Automotive Refinishes, and now in its second year at Beech Bend Raceway Park, will generate more than $3.5 million to the Warren County area, which is more than 2.19 percent of the almost $161 million economic impact of tourism on Bowling Green for the year, according to the Bowling Green Area Convention and Visitors Bureau.
Michelin to Buy 10 Percent Stake in Southeast Asian Tiremaker
Michelin has decided to buy a 10 percent stake in PT Gajah Tunggal (GT), a tire manufacturer and distributor located in Southeast Asia.
New Web Site Launched for Global Automotive Aftermarket Exporting Information
The Overseas Automotive Council (OAC) has launched a new Web site — www.oac-intl.org — designed to be an industry resource for information on exporting aftermarket products worldwide. OAC is the international aftermarket division of the Motor & Equipment Manufacturers Association (MEMA). The council promotes the sale in foreign markets of automotive products manufactured in North America.
ThyssenKrupp Budd Names Three Corporate Vice Presidents
The Board of Directors of ThyssenKrupp Budd Co. has elected three new corporate vice presidents. Markus Boening has been named corporate vice president and CFO. He formerly served as director, corporate finance and controlling. He joined the company in December 2003 after serving as senior project manager in the Mergers & Acquisitions Department of ThyssenKrupp AG in Duesseldorf, Germany.
Recording Trademarks With U.S. Customs Service Key Step to Anti-Counterfeiting Fight
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 to help identify infringing shipments, trademark owners gain a critical ally in deterring the entry of counterfeit products into the U.S. aftermarket.
Suppliers Feel Pinch from Auto Industry
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 that specialized engineering, the $3.8 billion Canton manufacturer is caught in the same pythonlike economic squeeze as businesses large and small across the world: how to cut costs and do more with less, because if they don’t, someone else eventually will.
Visteon Names Jim Ryan Director, North America Aftermarket Sales
Visteon has named Jim Ryan as its new director of North America Aftermarket Sales. In this role, Ryan will be responsible for the growth and development of Visteon’s North American Aftermarket Underhood Parts business,which offers products ranging from air conditioning and heat transfer to starters and alternators. Ryan recently served as vice president of sales, specialty product groups of Dana. During his 22-year tenure with Dana, Ryan held various sales positions including vice president of sales, NAPA Underhood Group and national sales manager.
EPA Issues Final Emissions Rule for Automotive Surface Coating Operations
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 applies to major sources such as automobile and light-duty truck assembly plants and producers of automobile and light-duty truck bodies.
Yokohama Announces Changes in Corporate Governance, Fiscal Results
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 the board of directors, and Yasuo Tominaga will assume the responsibilities of chairman and representative director. Tadanobu Nagumo will become president and representative director.