Shell Racing Solutions Announces Distribution Agreement
Shell Racing Solutions has signed an agreement with Performance Products LLC to distribute Shell Racing Fuels to the U.S. motorsports industry. Performance Products has 15 years of experience in the U.S. race fuels business. Performance Products has serviced professional race series such as Indy Racing League (IRL) and Championship Auto Racing Teams (CART) and will distribute Shell Racing Solutions race fuels to top tier, as well as grassroots and club racing circuits.
Republic Names George Strickler CFO
Former BorgWarner Executive Vice President and CFO George Strickler has been named executive vice president and CFO for Republic Engineered Products, one of North America’s largest producers of special bar quality steel. Prior to joining BorgWarner in 2001, Strickler served as vice president of finance for Akron, Ohio-based Goodyear Tire & Rubber Co. He held finance and treasury positions at the tiremaker for 30 years. He was also executive vice president and CFO at Lake West Group, a retail consulting company based in Cleveland, Ohio.
Metaldyne Expands Technical Capabilities in Plymouth, Mich.
Metaldyne has opened a new 27,000-square-foot technical center in Plymouth, Mich., which will be dedicated to the company’s chassis group. The facility will house chassis group personnel including finance, human resources, product engineering, program management, quality and testing. A 13,000-square-foot test lab will serve as the design and development center for products such as chassis suspension components, wheel-end assemblies, ball joints and control arms.
Automotive Communicators Discuss Preparing For and Dealing With Crisis
The Automotive Public Relations Council (APRC), the professional peer group of the Motor & Equipment Manufacturers Association, will examine the issue of “Dealing with Crisis” during its annual Spring Conference. Slated to take place Wednesday, April 21, at the Dearborn Hyatt Regency in Dearborn, Mich, this event will provide insight on how automotive public relations professionals should plan and execute successful crisis communications strategies.
Advance Auto Parts Reports Record Fourth Quarter and Fiscal 2003 Results
Advance Auto Parts has reported record revenue and earnings for its fourth quarter and fiscal year, which ended January 3. Fiscal 2003 included 53 weeks of operations compared to 52 weeks in 2002, with the additional week falling in the fourth quarter of 2003. Sales increased 19.2 percent in the fourth quarter to $821.3 million from $689.2 million.
Apogee Appoints New CFO
Apogee Enterprises, which develops and delivers value-added glass products and services for the automotive industry, has appointed William Marchido as its CFO. Marchido had been CFO at Siemens Dematic in Grand Rapids, Mich., since 1988. At Siemens Dematic, he was responsible for all financial areas, including IT systems management and productivity improvement programs, for the America’s Material Handling Division and locations in Europe, Singapore, New Zealand and Australia.
Precision Auto Care Reports Second Quarter Results
Precision Auto Care reported a profit of approximately $266,000 or $0.01 per share for the fiscal quarter ending December 31, 2003, compared with a profit of $6.6 million or $0.44 per share for the comparable prior year quarter.
Siemens VDO Automotive to Establish Diesel Systems Group; Focus on R&D, Testing
Siemens VDO Automotive has announced plans to establish a new division with headquarters in Columbia, Richland County, S.C. The new division — Powertrain Diesel Systems North America — will become a national center for research and development, engineering and testing of diesel fuel technology, including piezo electronic fuel injectors, diesel pumps and fuel rails, said the company. The company will invest $25 million in the new facility, which will employ 120 people, 70 of whom will be new hires from the region.
Radiator Repair Chain Takes Pollution Prevention Seriously
Radiator repair work — with antifreeze, lead-based solder and other hazardous materials — seems anything but environmentally friendly. But Mac’s Radiator, a Portland, Ore.-based chain of repair shops with a Eugene outlet, is part of an industry effort to change that perception. The Mac’s shop in west Eugene is the first business in the city to be certified under the Eco-Logical Business Program, a government-run pollution prevention project for small businesses.
Hella and Stanley Purchase Shares in Korean Auto Supplier
Automotive lighting suppliers Hella KG Hueck & Co. and Stanley Electric Co. Ltd. have purchased a five percent share in Korean auto supplier Samlip Industrial Company Ltd., based in Daegu, Korea. According to Joe Borruso, president and CEO of Hella North America, the investment represents a further expansion of the company’s 15- year-old relationship with the Korean supplier.