Motor Industry Chiefs See More Mergers and Acquisitions Ahead, Especially in Asia
Automotive executives are losing their taste for strategic alliances and expect to see an increase in mergers and acquisitions in the industry over the next five years, particularly in Asia, according to the results of the fifth annual survey of the automotive industry by consultancy KPMG LLP. Consolidation was seen as occurring globally, but respondents in particular focused on Asia, where 73 percent said they expect an increase. Sixty percent pointed to an increase in Europe, while 50 percent of those polled saw stepped up M&A activity in North America.
Transpro Named NAPA Branded Radiator Supplier
Transpro has been named supplier of a new radiator program for NAPA. Under the agreement, Transpro will supply NAPA with a radiator program that will offer a selection of popular radiator models covering a variety of automotive and light truck applications. Transpro will begin shipping product to NAPA this month, and the program will be rolled out to the NAPA distribution system in February.
Start Planning for National Car Care Month Now
For the second year, National Car Care Month will be held in April, providing tremendous opportunities to communicate with female consumers. That’s the word from the organizers of the Bluegrass Car Care Clinic in Lexington, Ky. For 15 years, the Professional Master Technician’s Association (PMTA) in Lexington, along with the Kentucky Indiana Automotive Wholesalers Association (KIAWA), have held vehicle check lane events during National Car Care Month (NCCM).
Johnson Controls Renews Sponsorship of Rocketsports Racing in Champ Car World Series
Johnson Controls is continuing its sponsorship of Lansing, Mich.-based Rocketsports Racing in the 2004 Champ Car World Series. Brian Kesseler, group vice president and general manager of customer business units for the automotive group of Johnson Controls, and Rocketsports team owner, Paul Gentilozzi announced their return to the premier open-wheel racing series with plans for the upcoming season.
Eaton Plans Joint Venture with Chinese Auto A/C Maker
Eaton Corp. has formed a joint venture with Chinese A/C maker Changzhou Senstar Automobile Air Conditioner Co. Ltd. The two companies will produce automotive air conditioning hose and tube assemblies and power steering hose and tube assemblies in Shanghai for Volkswagen’s China operations. Terms of the agreement were not disclosed.
Tesma International Completes Acquisition of Davis Industries
Tesma International has completed its acquisition of Davis Industries. Tesma announced its intention to acquire all outstanding shares of the privately-held automotive supplier in mid-December. Terms of the transaction were not disclosed. According to Tesma, Davis’ main product focus, in the area of stamped powertrain components and assemblies, will complement and broaden Tesma’s current product offerings and customer base.
MEMA Names New Director of Finance and Administration
Wendy Earp has been promoted to director of finance and administration for MEMA. She formerly served as the association’s controller, a position she has held since May 2001. Earp succeeds Joseph “Joe” Griscti, who is retiring after 22 years of service to the association and industry.
Suppliers Use Show as Bridge to Buyers
Most people think of Detroit’s auto show as a glitzy showcase for the latest cars and trucks from automakers around the globe. But auto parts makers increasingly are using one of the most influential auto shows in the world to promote their wares to the vehicle manufacturers that buy them and the consumers who use them.
Two Michigan Manufacturers Name New Directors of Investor Relations
Lear Corp. has appointed Anne Bork director of investor relations. In her new role, Bork will be responsible for supporting the company’s global investor-relations activities. She will report to Mel Stephens, Lear’s vice president of investor relations and corporate communications. TRW Automotive has also named a new director of investor relations. Patrick Stobb has joined TRW from Visteon where he held the position of manager of investor and shareholder relations since June 2002. Prior to that, he held a number of finance positions with both Visteon and Ford.
Could Someone You Know Be The 2004 Victor Reinz Machinist of the Year?
Clevite Engine Parts is currently accepting applications for the 2004 Victor Reinz Machinist of the Year Award. Along with the Automotive Engine Rebuilders Association (AERA) and the National Institute for Automotive Excellence (ASE), Clevite Engine Parts presents this award annually to recognize the valuable contributions machinists make to the automotive rebuilding industry. To further expand the Machinist of the Year Program, Clevite will provide a cash prize of $250 to the person who nominates the winner of this year’s award, in an effort to encourage bosses, colleagues, family and friends to nominate a broader selection of deserving machinists.