Lord Corp. Opens New Michigan Facility
Lord Corp. — which makes specialty adhesives, polyurethane coatings as well as electronic, vibration and noise control solutions for the automotive market — has expanded its Detroit area facility in an effort to better serve the automotive market. Located on 4.8 acres in Wixom, Mich., the newly constructed 19,020-square-foot facility houses the company’s automotive sales office and includes a 7,736-square-foot high-technology formulation and testing laboratory, automotive aftermarket training classroom, and a garage for hands-on automotive application training.
DST Asks: What Value Do You See in Sharing Detailed Sales Data?
An ongoing dilemma exists between all tiers of the supply chain due to the gulf caused by lack of collaboration and sharing of sales information that would ultimately benefit all — manufacturers, distributors, parts retailers and service providers. Where do you stand on these issues? Our objective is to generate the thought and dialogue that might provide energy to new initiatives. See our special offer at the end of this week’s column!
Executive Interview with Howard Kesten, President and Founder of Workboards
Our latest edition of “Executive Interview” features Howard Kesten, president and founder of Workboards, which launched the automotive job site, aftermarketJobs.com, in December 2003. A two-time guest speaker at AAPEX, Kesten is also founder and CEO of APA Search, Inc., an executive search and human resources consulting firm serving the automotive industry. In 18 years, he has placed more than 1,600 automotive professionals. Join us as Kesten provides an introduction to aftermarketJobs.com and shares with us his predictions for the future of the aftermarket and the job market.
Tower Automotive Acquires Remaining Shares of Seojin Industrial Co.
Tower Automotive has acquired Seojin Industrial Co. Ltd., a supplier of components to the Korean automotive industry. Tower previously held a 66 percent equity interest in Seojin and acquired the remaining shares as part of a settlement of an outstanding note from the minority interest partner.
Metaldyne Names Wendy Needham to Board of Directors
Metaldyne has named Wendy Beale Needham to the company’s board of directors. Needham most recently served as managing director of global automotive research for Credit Suisse First Boston. Before retiring in 2003, she provided investment research on the automotive industry, including extensive research on economic factors driving industry demand trends, and impact on stock price performance.
Advance Auto Parts Hopes to Maintain Fast Pace of Earnings, Expansion
Roanoke, Va., is home to an automotive parts retailer that keeps pushing the pace. Advance Auto continues to expand, stretching itself across many markets. By the end of 2003, it had 2,546 stores in 39 states, Puerto Rico and the Virgin Islands with plans to open up to 135 in 2004. But how long can it keep up this speed?
DENSO Increases Motorsports Sponsorships for 2004
Japan-based DENSO Corp. has announced it will co-sponsor two new teams for the 2004 racing season — Panasonic Toyota Racing team in Formula One (F1), and Subaru World Rally team. DENSO will also continue to support the Panasonic Toyota Racing team as a technical sponsor.
Cooper Tire Signs Supply Agreement with Hangzhou Rubber Co.
Cooper Tire and Rubber has signed an outsourcing agreement with Hangzhou Zhongce Rubber Co., located in Hangzhou, China. Hangzhou will supply approximately one million passenger radial tires to Cooper for sale in the U.S. Last October, Cooper announced an agreement with Hangzhou to supply Cooper with radial medium truck (RMT) tires which had previously been made at Cooper’s Albany, Ga., plant. The Albany facility will add passenger capacity to replace the RMT production.
AMN Perspectives by Thomas Group: Experience at Work
In our last article we raised the issue of conflicting department strategies without really addressing it. Let’s do that now. As an example, what happens when finance drives for lower inventory levels to minimize working capital costs, sales and marketing promises customers more inventory to improve service, and production plans long manufacturing runs with low flexibility to maximize favorable variances? The results will not be pretty.
Bridgestone Profit Jumps
Tiremaker Bridgestone Corp. said its profit nearly doubled in 2003 as sales rose in Europe and payments related to a massive U.S. tire recall three years ago declined. But the tire company forecast lower profits for this year, citing higher rubber prices and increasing marketing expenses in Japan in the face of weak demand.