Delphi Earnings Decline
Auto-parts maker Delphi Corp. said Tuesday its fourth-quarter net earnings sank to $82 million as it paid for a major restructuring program it launched in October, which included 8,500 job cuts. Net income for the quarter was 15 cents a share, down from $119 million, or 21 cents, in the same period a year earlier.
ArvinMeritor Secures $200-Million Suspension Module Contract
ArvinMeritor’s Light Vehicle Systems (LVS) business group has been awarded a new, annual $200-million light vehicle suspension systems contract for the final assembly of front- and rear-cross car modules to begin production in the fourth quarter of October 2005. The identity of the customer, and terms of the contract were not disclosed.
Dana AAG Expands Relationship with NASCAR
Dana’s Automotive Aftermarket Group (AAG) has renewed its partnerships with NASCAR in anticipation of the 2004 NASCAR NEXTEL Cup Series. Dana aftermarket products such as WIX filters, Raybestos brakes and Clevite Engine Parts are part of the exclusive lineup of NASCAR Performance products.
Noble International Completes LWI Acquisition, Plans to Sell Monroe Engineering Subsidiary
Noble International has completed its acquisition of Clinton Township, Mich.-based Laser Welding International (LWI), a supplier of laser-welded blanks to General Motors. The acquisition which was first announced late last week, now includes the proposed sale of LWI’s subsidiary, Monroe Engineering Products. Noble paid $14.7 million for LWI, with an additional $1 million payable if certain new business is awarded to Noble within the next twelve months.
Legendary Engine Builder Pat Musi Joins Edelbrock
Pat Musi, a championship auto racer and 30-year performance specialist, has been hired as a product development consultant for aftermarket performance product manufacturer Edelbrock Corp. In this new role, Musi will focus on nitrous systems, as well as racing cylinder heads and high-horsepower EFI products. Described as “one of the most intimidating and influential doorslammer racers in the country,” Musi opened Pat Musi Performance in Carteret, NJ, in 1969 at the age of 18. That same year he started his racing career, which includes several Pro Street world championships (including four straight from 2000-2003) and records.
“AMN Perspectives by Thomas Group: Experience at Work”
Welcome to the first installment of “AMN Perspectives by Thomas Group: Experience at Work.” What does “Experience at Work” mean? It means proven methods and techniques applied by seasoned executives resulting in measurable financial improvement. “Work” means that Thomas Group consultants are working implementers. We get into the client’s business and go to work side by side with the management and employees until objectives are accomplished, rather than preparing a plan and leaving it to the company to make it happen. Through “AMN Perspectives: Experience at Work,” Thomas Group consultants will comment on issues and news within the automotive aftermarket to provide constructive suggestions that work based on our experience in the automotive industry and more than 20 other industries and government agencies.
Exide Introduces NASCAR Branded Product Line at Sam’s Club
Playing off the brand recognition the NASCAR name holds with its estimated 75 million fans, Exide Technologies has introduced a new NASCAR branded transportation battery program at Sam’s Club, a national members-only chain of retail warehouses. The new program is exclusive to Sam’s Club and will be available in more than 462 locations nationwide.
Siemens VDO Automotive Presents 2003 Rep of the Year Award
Siemens VDO Automotive has presented Mike Wirth and Doug Mathe of RepWorks Marketing with their 2003 Rep of the Year Award. RepWorks Marketing is responsible for Siemens VDO’s automotive aftermarket sales activities in California, Arizona and Nevada. RepWorks Marketing has represented Siemens VDO Automotive for approximately four years. RepWorks is headquartered in Los Angeles, Calif., and has an office in Phoenix, Ariz.
ArvinMeritor Taps Don Polk to Lead Its LVS Wheels Business
ArvinMeritor has promoted Donald Polk to the position of vice president and general manager of its Light Vehicle Systems (LVS) business group’s Wheels product line, effective immediately. Before being named to this new position, Polk was vice president and general manager of the LVS Ride Control product line. Polk began his career with the company as a Wheels sales engineer in 1989.
Tenneco Offers New Limited Lifetime Warranties
Tenneco Automotive is promoting an expanded product guarantee program for 2004. Tenneco is now featuring limited lifetime warranties and a 90-day risk-free trial offer on premium Walker exhaust, Monroe shock and strut, DynoMax performance exhaust and Rancho off-road technologies. The new strategy will also enable aftermarket businesses to enhance bottom-line results while significantly increasing customer satisfaction and loyalty, according to Tenneco Automotive Vice President of Marketing Richard Alameddine.