Hostile Bid for Conti in the Works?
Financial Times reports over the weekend say that Continental AG received a takeover offer by German auto parts maker Schaeffler Group. Schaeffler has annual revenues of around $14.3 billion, while Continental is nearly twice the size, with annual sales of about $26 billion.
Executive Interview with Jesse Jones, Director of Marketing, MAHLE Clevite
Jesse Jones, a 25 year veteran of the aftermarket, was appointed in 2006 to the role of manager – marketing for Clevite Engine Parts, now MAHLE Clevite Inc. Jones is responsible for the company’s overall strategic marketing efforts, which include communication, customer program management, tradeshows, motor sports, brand management and customer training. In this exclusive Executive Interview, Jones brings us up to speed on MAHLE Clevite as the company celebrates nearly one and a half years under the ownership of Stuttgart, Germany-based MAHLE Group.
The Week in Review (July 7-11, 2008)
By Amy Antenora The Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says "News Archives" at the
Herman Trend Alert: Thriving in Economic Crisis
Some enterprises are thriving through this period of economic crisis. First, the sales of fuel efficient, mostly small cars are booming. Toyota dealerships have only 15-days inventory of Corollas on their lots. In May, Honda’s modest Civic became the No. 1 selling car in the United States. Logistics alternatives to diesel-consuming trucks that are more efficient at moving goods, like railroads, are also doing well.
Visteon Completes Sale of Its Swansea, UK, Operation; Provides Restructuring Update
Visteon has completed the sale of its Swansea, United Kingdom, operation to Linamar Corp., a Canadian-based auto parts manufacturer. The company said the sale of the Swansea operation represents a significant milestone in its effort to address non-core facilities and improve its financial performance in connection with its three-year improvement plan. The Swansea operation, Visteon’s largest operation in the U.K., generated negative gross margin of approximately $40 million on sales of approximately $80 million during 2007.
Intermet Names Chief Lean Officer
FT. WORTH, Texas — Intermet Corp. has named Bob Flaherty as its chief lean officer. In the newly created position, Flaherty will serve as Intermet’s lean leader and mentor. He will report to Jeff Mihalic, Intermet president and CEO. "Bob has extensive experience in implementing lean manufacturing at both General Motors and Toyota over the
Regional Automotive Warehouse Corp. Joins Pronto
National Pronto Association has announced the addition of Regional Automotive Warehouse Corp. as the newest member shareholder of the Pronto Group. Regional Automotive Warehouse services more than 20 independent jobbers throughout New Jersey, the Bronx and Staten Island.The company has been in business since 1958.
Aisin Named a GM 2007 Supplier of the Year
PLYMOUTH, Mich. — Aisin World Corp. of America (AWA) has received the General Motors 2007 Supplier of the Year award for its significant contributions to GM’s global product and performance achievements. The 16th annual award — themed the "Best of the Best" — was presented during ceremonies recently at the Sawgrass Marriott Hotel in Jacksonville,
New SEMA Board Members Announced
DIAMOND BAR, Calif. – Results of the 2008-2009 SEMA Board of Directors election are final, with five new individuals joining the leadership group. The new members in the manufacturer category are Ron Funfar, Hedman Hedders/Trans-Dapt; BJ Leanse, Big Country Truck Accessories; and Tim Watts, Superlift Suspension Systems. The new members in the distributor/retailer category are
The Week in Review (June 30 – July 1, 2008
By Amy Antenora The Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says "News Archives" at the