Ballooning Steel Costs Bring Pain for Wisconsin’s Auto Suppliers
Skyrocketing steel prices already have pushed two automotive suppliers with plants in Wisconsin into bankruptcy, and industry observers say more companies could go under yet.
Executive Interview with Randy Mordue, Director, Aftermarket Division, Akebono Corp.
Our latest edition of “Executive Interview” features Randy Mordue, director, Aftermarket Division, Akebono Corp. Mordue joined Akebono North America in 1999. He has more than 20 years of sales, national account and new business development experience within the automotive aftermarket industry. Mordue recently took the time to talk with aftermarketNews.com and bring us up to speed on the latest developments at Akebono.
MEMA Names Industry Veteran Bob McKenna as its New President
The Motor & Equipment Manufacturers Association (MEMA) has named Bob McKenna as its new president and CEO. The appointment is effective October 1. McKenna, who has 35 years of aftermarket industry experience, comes to MEMA from Atlanta-based Genuine Parts Company (GPC) where he served as group vice president and chairman of the board for the National Automotive Parts Association (NAPA).
U.S. Keeping Crash Data Secret, Officials Backtrack on Safety Disclosure Amid Suit by Tire Makers
Federal auto safety officials are backtracking on a pledge to give consumers access to detailed data on which cars and trucks may be linked to deaths, injuries and property damage. The reason: Tire makers have sued to prevent its release.
Executive Interview with Paul Foley, Vice President, Automotive Aftermarket Suppliers Association (AASA)
Our latest edition of “Executive Interview” features Paul Foley, vice president of the Automotive Aftermarket Suppliers Association (AASA), a market segment of the Motor & Equipment Manufacturers Association (MEMA). Join us as Foley brings us up to speed on the rapid growth of AASA since its creation two years ago, as well as several industry initiatives AASA is currently focusing on.
SEMA Board of Directors’ Election Results Announced
The results of the Specialty Equipment Market Association (SEMA) board of directors election are final. SEMA, has elected three newcomers and re-elected seven incumbents into office on its board of directors.
Spectra Premium Concludes the Acquisition of Trimag
Spectra Premium Industries Inc. (SPI), a North American manufacturer of automobile, light-truck and heavy-duty truck aftermarket parts, has completed its acquisition of a 90 percent of interest in Trimag, L.P. Investissement Quebec will own the other 10 percent of interest in Trimag.
Updated: Cypress Group to Buy Dana AAG Unit
It’s official. Dana Corp. has finally named a buyer for its Automotive Aftermarket Group (AAG). As first-reported early this morning in a ”Breaking News” bulletin from aftermarketNews.com, New York-based buyout firm Cypress Group has agreed to purchase the Dana AAG unit for approximately $1.1 billion in cash. Dana AAG President Terry McCormack and John Washbish, the AAG unit’s president of customer relationship management, along with their executive team will continue with the company. According to Michael Finley, managing director of Cypress, former Echlin top execs Larry McCurdy and Joe Onorato have signed on to serve as directors of the new company.
DST Asks: How Do You Plan to Stay Competitive?
Daniel H. Burnham, the 19th century architect and city planner who designed the first skyscraper and conceived the master plans for Chicago and other great cities was quoted as once saying, “Make no little plans, for they have no magic to stir men’s blood. Make big plans, remembering that a noble, logical diagram once recorded will never die.” Trying to follow Mr. Burnham’s advice to make big plans can easily be precluded by the focus needed for just handling day-to-day activities, as described in another saying that goes something like, “When you’re up to your neck in alligators, it’s hard to remember that your original objective was to drain the swamp.”
Airtex Introduces Lineup of Engine Management Products to Aftermarket
Airtex Automotive, the world’s largest independent manufacturer of fuel and water pumps, is expanding its aftermarket offerings with a complete line of engine management products.