PPG to Acquire Australian Automotive Coatings Business
PPG Industries has reached agreement to acquire Protec Pty. Ltd., based in Adelaide, Australia, and all assets of Fortec Paints Ltd., Protec’s New Zealand business. The transaction is expected to close late this month.
CCC Information Services Signs Exclusive Marketing Agreement with CSi Complete
CCC Information Services, a supplier of advanced technology solutions for the automotive-claims and collision-repair industries, has added a new component to its collision repair and automotive claims tools. CCC recently signed an exclusive marketing agreement allowing the company to offer the customer satisfaction indexing services of CSi Complete. CCC will be responsible for the marketing and sales of all new CSi Complete accounts in the automotive claims industry, allowing CSi Complete to utilize CCC’s extensive sales and support organization in the delivery of its services.
LKQ Second Quarter Net Income Up 53 Percent
LKQ Corp. today announced results for its second quarter, which ended June 30. The company reported revenue of $195 million, net income of $11.7 million and diluted earnings per share of 21 cents. For the second quarter of 2006, revenue increased 43.4 percent to $195 million compared with $136 million for the second quarter of 2005. LKQ’s organic revenue growth for the quarter was 10.8 percent. Net income for the quarter increased 52.9 percent to $11.7 million compared with $7.6 million for the second quarter of 2005. Diluted earnings per share was 21 cents for the quarter compared with 16 cents for the second quarter of 2005.
BASF Named Preferred Supplier for Ford
BASF has been named a preferred global supplier to Ford Motor Co., joining a select list of 36 suppliers in Ford’s “Aligned Business Framework.” The Aligned Business Framework is a crucial element in Ford’s global program to reduce the number of suppliers the company uses, and to build more collaborative relationships with those suppliers. Globally, Ford has more than 2,000 production suppliers and spends around $70 billion dollars annually on production parts.
Fibre Glass-Evercoat Launches New Website
Fibre Glass-Evercoat, a leading manufacturer of auto body repair fillers and putties for the automotive refinish industry, has announced the launch of its new website – www.evercoat.com . The site features an improved search interface that provides more targeted results, an expanded FAQ page, a products page that allows at-a-glance selections for quicker browsing and an opt-in newsletter to provide subscribers with information about new technologies and products. The site has also been expanded to include a Do-It-Yourself (DIY) section that features photos of automotive restoration and repair work submitted by weekend warriors who see it as a labor of love.
LKQ Acquires Recycled Parts Businesses in Colorado, Texas and Florida
LKQ Corp. recently acquired several recycled parts businesses consisting of two facilities in Houston, TX, with a total footprint of approximately 46 acres; a 10 acre facility in Aurora, CO (a suburb of Denver); and a 12 acre facility in Daytona Beach, FL. These acquisitions, which had 2005 aggregate revenues of approximately $24 million, follow three other recent acquisitions made in June, expanding the company’s reach into the Los Angeles, CA, Portland, OR and Seattle, WA markets.
Diamond Triumph Auto Glass Updates Parent Company Branding
Diamond Triumph Auto Glass is updating its brand to Diamond Glass Companies (DGC). DGC will serve as the parent company to Triumph Glass, Settles Glass and Agents Glass companies. The company said both the parent and sub brands have received a “brand refresh” and are migrating from an auto glass service provider to a full-service glass platform to include auto, commercial and residential glass.
PPG To Acquire Ameron’s Coatings Business, Buys Remaining Share in Dongju
PPG Industries has reached an agreement to acquire the Performance Coatings and Finishes business of Ameron International, based in Pasadena, CA. Completion of the acquisition is subject to customary closing conditions, including receipt of required regulatory approvals, which are expected within 30 to 45 days.
Lord Corp. and CARSTAR Automotive Canada Become Vendor Partners
Lord Corp., maker of Fusor Automotive Repair Adhesives, has signed a new vendor partnership agreement with CARSTAR Automotive Canada. Founded in Hamilton, Ontario, CARSTAR Automotive Canada has grown from eight to more than 100 locations in just 10 years. With more than 300 locations across North America, CARSTAR repairs approximately 1 in 20 vehicles in Canada – 6,000 vehicles per month. While many CARSTAR stores already use Fusor products, these same adhesives as well as extensive training will now be available to CARSTAR franchisees as part of the preferred vendor program.
DuPont to Make Products Using Corn Syrup
Chemical maker DuPont Co. on Tuesday said it plans to begin manufacturing some of its products from bio-based materials rather than petroleum in 2007. Not unlike everyday consumers, industries are feeling the pinch of higher oil prices and looking for less expensive, homegrown forms of renewable energy to offset raw material and manufacturing costs.
Keystone Re-opens New Orleans Branch After Katrina
On May 8, less than nine months after hurricane Katrina struck the Gulf Coast, Keystone Automotive re-opened the doors to its newly renovated New Orleans branch. This location had suffered extensive damage to buildings, inventory and equipment. A small team of Keystone Team Members pulled together and spent an entire month just cleaning the remains and removing debris.
BASF Completes Acquisition of Engelhard Corp.
BASF has successfully completed its acquisition of New Jersey-based Engelhard Corp. The company has begun the process of integrating Engelhard as a wholly owned subsidiary of BASF, according CEO Jurgen Hambrecht.