FleetPride Acquires Truck & Trailer Supply
FleetPride, an independent aftermarket distributor of heavy-duty truck and trailer parts, has acquired Truck & Trailer Supply Inc., which has locations in Artesia and Roswell, N.M. Truck & Trailer Supply was founded in 1980 by Gene and Kay Peterson and has grown into a successful and well respected business in the southeastern New Mexico market.
Standard Motor Products Announces Second Quarter 2008 Results
Standard Motor Products has reported its consolidated financial results for the three months and six months ended June 30. Consolidated net sales for the second quarter of 2008 were $215.3 million, compared to consolidated net sales of $217 million during the comparable quarter in 2007. Losses from continuing operations for the second quarter of 2008 were $772,000 or 4 cents per diluted share, compared to $5.7 million or 30 cents per diluted share in the second quarter of 2007. Excluding restructuring expenses for previously announced facility moves, a deferred gain from the sale and leaseback of its corporate facilities in Long Island City, N.Y., results from continuing operations for the second quarter 2008 were essentially breakeven compared to earnings in the second quarter 2007 of $6 million or 32 cents per diluted share.
Cooper Tire & Rubber Co. Reports Second Quarter Results
Cooper Tire & Rubber Co. reported a net loss of $22 million, or 38 cents per share, for the quarter ended June 30. Net sales for the period were a record $773 million, an increase of $43 million over the prior year. The company said increased revenues were driven by pricing and improved mix partially offset by decreased tire unit volumes in North America. As with many manufacturing companies, Cooper faced intense challenges during the quarter that adversely affected operating results. These included record high raw material costs, increased utility costs and weak market demand in North America. Raw material shortages also led to Cooper’s decision to temporarily curtail production during the quarter in North America.
ZF to Acquire U.S.-based Cherry Corp.
ZF Friedrichshafen AG is expanding its global Driveline and Chassis Technology portfolio with a new, pending acquisition. Upon government approval, ZF will acquire Cherry Corp., headquartered in Pleasant Prairie, Wis. Founded in 1953, Cherry develops as well as produces switches, sensors, control units and electronics modules for the automotive industry, components for industrial and household applications and computer input devices.
Capstone Financial Group Sells Go Rhino to Big Country Truck Accessories
Capstone Financial Group has sold Xtreme Metal Fab, (doing business as Go Rhino) to Big Country Truck Accessories, a subsidiary of Guadalajara, Mexico-based Industria DiseÑadora De Autopartes (IDDEA). Go Rhino is a Brea, Calif.-based manufacturer of metal fabricated aftermarket accessories for light trucks and sport utility vehicles, which include products for public safety and soft-sided cargo management products.
Behr Hella Service to Provide Comprehensive Range of Aftermarket AC and Engine Cooling Parts
Behr Hella Service, a North American joint venture for thermal management between Behr (vehicle air conditioning and engine cooling) and Hella (lighting technology and electronics) is now able to provide the U.S. aftermarket. The joint venture offers a single source of supply for a comprehensive range of air conditioning and engine cooling parts for European cars and heavy duty trucks, as well as select parts for Japanese and Korean passenger cars.
Delphi Plans to Sell Brake Business
Delphi Corp. has retained W.Y. Campbell & Company to assist the company in exploring sale opportunities for its brake business. Delphi’s Brake business provides fully integrated brake system solutions to customers as well as engineered components tailored to customer requirements. The unit has estimated 2008 revenue of $295 million and more than 1,000 employees globally throughout three manufacturing and assembly facilities located in Juarez, Mexico and Shanghai, China.
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.
Scott Swaldo Named Senior VP of Operations at ASC
Scott Swaldo was recently appointed to the newly formed position of senior vice president of operations for water pump manufacturer ASC Industries, Inc. In his new role, Swaldo will be responsible for oversight of all ASC’s global operations including North Canton, Mexico, Spain and China. He has been with ASC since 2001 and has been executive vice president and general manager of the North Canton facility since 2005. Previously, Swaldo was the vice president of procurement and human resources for ASC.
Jasper Opens West Coast DC in Kingman, Ariz.
Jasper Engines & Transmissions has opened a new distribution center in Kingman, Ariz., to better serve its branches and customers out west. In its present configuration, the Kingman distribution center receives up to six shipments from Jasper each week to keep fully stocked with 2,400 remanufactured products. In turn, Kingman sends out up to six trucks each week to service the company’s Southern California, Phoenix, Northern California and Las Vegas branches.