ThyssenKrupp Higher on Report, May Sell Automotive Division
Shares in ThyssenKrupp AG rose sharply in early trade yesterday on the back of a report in the Wall Street Journal stating that the steel conglomerate is preparing for the potential sale of its automotive division, dealers said. The sale of ThyssenKrupp Automotive AG, which the Journal said was likely to bring in about $3.6 billion, would raise cash for Germany’s biggest steelmaker as it waits to see if it can buy Dofasco Inc of Canada for $4.6 billion.
Kragen Auto Parts to Offer Rechargeable Battery Recycling Program
Kragen Auto Parts, a subsidiary of CSK Auto, is partnering with the Rechargeable Battery Recycling Corporation (RBRC), a nonprofit, public service organization dedicated to recycling rechargeable batteries, on the rollout of RBRC’s rechargeable battery recycling program, Call2Recycle, in Kragen Auto Parts stores.
2005 NASCAR NEXTEL Cup Series Season Available on DVD
The 2006 NASCAR NEXTEL Cup season is only two weeks away, but racing fans are still talking about the excitement of last season. Thanks to NASCAR Images, the 36 races, 10 months, 10,000 laps and 14,000 miles of racing during 2005 can be relived over and over. The “NASCAR NEXTEL Cup Series 2005” DVD, released this week, is a cinema-style experience that “slows down just long enough for fans to relive the excitement of one of NASCAR’s most memorable seasons.” NASCAR Images cameras go behind the scenes and high above the action to capture the moments that powered the 2005 season from green flag to checkered.
John Weber Appointed President and CEO for Remy International, Inc.
Remy International, Inc. announced the appointment of John Weber to the position of president and CEO for Remy International, succeeding Thomas Snyder. Weber was most recently with EaglePicher, Inc., a global conglomerate of auto parts, mining and high tech businesses, where he was president and CEO since 2001.
Tenneco Announces Executive Promotion
Tenneco has promoted Kenneth Trammell, senior vice president and CFO, to executive vice president and CFO. The promotion is effective immediately. As CFO, Trammell is responsible for Tenneco’s finance strategy, financial planning and analysis, accounting, tax, treasury and investor relations. He is a member of the senior management team and reports directly to Chairman and CEO Mark Frissora.
Car Care Council Unveils New ‘How to’ DVD to Hosting Vehicle Check-Up Events
In anticipation of National Car Care Month in April, the Car Care Council has introduced a new DVD with step-by-step instructions on planning and executing consumer vehicle check-up events. According to the Car Care Council, repair shop owners are sometimes reluctant to host these events because they don’t know what to expect. The council’s new DVD/CD walks viewers through the entire process.
ThyssenKrupp Mulls Closing Some of its U.S. Auto Operations
ThyssenKrupp AG chief executive Ekkehard Schulz said the steel conglomerate is mulling the closure of some of its U.S. Automotive operations, which are struggling as a result of the downtown in the world’s largest car market. Schulz said ThyssenKrupp would close some, without specifying which, operations “in a worst case” scenario.
Colorado-Based Great American Auto Centers Shutter
Colorado-based Great American Tire and Automotive Service Center has closed all of its local stores with little explanation. Great American specialized in tires and automotive service care and had locations in Colorado, Arizona, Georgia, Texas and Virginia.
Executive Interview with Max Dull, President and CEO, Beck/Arnley
This week, we hear from Max Dull, president and CEO of Beck/Arnley, the import replacement parts manufacturer that recently went independent after being divested from the former Dana AAG, now Affinia. An executive with a thorough knowledge of, and background in, nearly every segment of the automotive aftermarket, Dull provides interesting insights on the future of our industry. Join us as he brings us up to speed on the newly independent Beck/Arnley and the future of the import parts market.
Gold Eagle Takes ‘Engine Answerman’ on the Road
Gold Eagle Co. has tapped eight-time STA-BIL National Lawn Mower Racing Series champion Bobby Cleveland to tour the country as ‘the Engine Answerman.’ The unique promotion is designed to reach out to consumers across the U.S. with expert advice on virtually all engine-powered vehicles and equipment.