Eaton Reports First Quarter Net Income Per Share up 14 Percent
Eaton Corp. announced net income per share of $1.36 for the first quarter of 2006, an increase of 14 percent over net income per share of $1.19 in the first quarter of 2005. Sales in the quarter were a record $3.01 billion, 14 percent above the same period in 2005. Net income was $208 million compared to $187 million in the first quarter of 2005.
Commercial Vehicle Group Promotes Five Executives to Vice President Positions
Commercial Vehicle Group (CVG), a supplier of interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, recently promoted five members of its sales team to vice president customer sales. According to Mervin Dunn, CVG president and CEO, the company is experiencing a growth spurt and the addition of these roles will ensure continued, focused commitment to the company’s customers.
Cleveland-Based Buyout Firm Acquires Phillips & Temro Industries
Morgenthaler Partners, private-equity buyout firm based in Cleveland, Ohio, has acquired Phillips & Temro Industries (PTI), a supplier of products for diesel engine related markets. Phillips & Temro supplies cold start and emissions control products to both the aftermarket and original equipment market through its brands ZeroStart, Temro, EM Products, Cowl and Cab Power.
Forbes 400 Platinum List Features Many Automotive Aftermarket and Transportation Players
Since 1999, Forbes magazine has published annually its Forbes 400 Platinum list, which picks the “Best Big Companies” from 26 different industries. There were a number of notable automotive, aftermarket and transportation names among the list this year.
Aftermarket Companies Make USA Today’s List of Most Overpaid/Underpaid Executive Teams
USA Today recently published an independent study identifying the most underpaid and overpaid executive teams leading public companies in 2003. Among these companies were a number of names you may recognize as major players in the automotive aftermarket.