TRW Automotive Reports First Quarter 2005 Financial Results; Provides Update on 2005 Outlook
TRW Automotive Holdings Corp. has reported first quarter 2005 sales of $3.2 billion, an increase of 10 percent compared to the same period a year ago. Net earnings were $50 million or 50 cents per diluted share, which compares to $2 million or 2 cents per diluted share in the prior year quarter. The company’s first quarter 2005 included five additional calendar days as compared to the previous year period.
O’Reilly Automotive to Acquire Midwest Auto Parts Distributors
O’Reilly Automotive today announced it will buy all of the outstanding stock of W.E. Lahr Co. and its subsidiary Midwest Auto Parts Distributors and affiliates, headquartered in St. Paul, Minn. O’Reilly will purchase all of the outstanding stock of Midwest for $61 million in cash. The transaction is expected to close May 31.
Executive Interview with Mort Schwartz, Chairman of the Global Automotive Aftermarket Symposium
Next week, the tenth annual Global Automotive Aftermarket Symposium (GAAS) will take place (May11&12) in Chicago. Celebrating this decade of annual events, the theme for this year’s GAAS is “Lessons from the Past, Perspectives on the Future.” In honor of the this tenth-annual event, we asked Mort Schwartz, chairman of GAAS, to reflect back and give us his own perspective on changes taking place in the industry in the past ten years as well as his favorite memories from past symposiums.
LKQ Announces 2005 First Quarter Net Income Results
LKQ Corp. has reported revenues of $133.8 million, net income of $8.4 million and diluted earnings per share of 37 cents for its first quarter of 2005, which ended on March 31.
3M Workers Brace For Plant Closure
When 3M Co. said last month that it would close its Stillwater, Minn., automotive graphics plant this year because of declining demand, the plant’s 200 employees were caught off guard.
Penda Launches New Web Site
Penda Corp’s web site — penda.com — has been given a face lift. New functionality features have also been added to reflect the company’s expansion into new markets and new product categories. Information is available on the site for all three of Penda’s operating units — Penda Truck Accessories, Penda Premier Solutions and Penda Water Management.
Activant Named Exclusive Primary Technology Provider to the Alliance
Activant Solutions has been named exclusive primary provider of store systems and electronic catalogs to Aftermarket Auto Parts Alliance. With 56 independent distributor members serving more than 4,200 auto parts stores and 2,200 vehicle service centers, the Alliance is among the leading users of Activant’s distribution management systems including the Paperless Warehouse business management software, PartExpert suite of eCatalog services and AConneX eCommerce marketplace. According to Activant, Alliance shareholders also have been among the first distributors to utilize Activant’s data warehouse solution.
AAPEX Branding Strategy Featured As Best Practice in EXPO Magazine
The branding strategy used to build a new look for the 2004 Automotive Aftermarket Products Expo (AAPEX) was chosen as a Best Practice by EXPO magazine and featured in the publication’s March issue. The article, “Extreme Makeover,” details the steps taken to create a new look that would brand AAPEX as a must-attend event for the $250 billion automotive aftermarket industry.
New DIY Report Part of 2005 Automotive Aftermarket Status Report
The Automotive Aftermarket Suppliers Association (AASA) has added a new feature to its annual Automotive Aftermarket Status Report. This year, the annual market research report will include a new do-it-yourself (DIY) section that will examine DIY trends, different types of DIY repairs and more about this critical segment of the aftermarket industry.
ChevronTexaco to Buy Unocal in $16.8 Billion Deal
According to reports from the Wall Street Journal, ChevronTexaco has beat out several competitors in a bid for California-based oil company Unocal. ChevronTexaco has agreed to buy the business for a cash and stock mix valued at $16.8 billion, making this the largest oil-sector deal since the 2001 merger of Chevron Corp. and Texaco Inc., the Journal said.