Federal-Mogul Reports Net Income of $90 Million in Second Quarter 2008
Federal-Mogul Corp. has reported record second quarter sales of $2 billion and an eighth consecutive quarter of year-over-year increased sales combined with a sharp rise in quarterly net income to $90 million. Sales for the three-month period ending June 30 were a record $1,995 million, an increase of 13 percent, compared to $1,763 million for the same period a year ago.
Fristoe Named CCAR President and COO; Stewart Named EVP
The Coordinating Committee For Automotive Repair (CCAR) has announced new leadership for the organization’s staff, based at its headquarters in Overland Park, Kan. Daren Fristoe has been named CCAR’s new president and chief operating officer. Robert Stewart, who previously served as CCAR president, has been appointed to the position of executive vice president.
The Week in Review (July 21-25, 2008)
By Amy Antenora The Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says "News Archives" at the
Court Rules Against Tiremakers in Data Reporting Suit
The U.S. Court of Appeals rejected an argument from the Rubber Manufacturers Association (RMA) concerning public access to early warning data tiremakers are required to supply the government under terms of the TREAD Act. The court, in a case involving Public Citizen, said the “plain language” of the TREAD Act precluded attempts to keep private
NASCAR Angels and Exide Batteries Team Up for Summer Sweepstakes
CHARLOTTE, N.C. – NASCAR Angels is teaming up with Exide Batteries — the official battery of NASCAR — to reward NASCAR fans this summer. The “Charge Up Your Summer” Sweepstakes will run from July 26 through August 24, and will give fans around the country the chance to win a year’s supply of gas and
Import parts industry legend Randy St. John died July 20. He was 81 years old. Beginning his automotive parts experience in the early 1950s as a partner in Brigham-St. John, an import parts specialist located in Southern California, Randy built a solid demand for British, French, Italian and German car parts in his market. After aligning with Beck Distributing in the early 1960s, Randy joined the Beck family and his company became the west coast operation for Beck, later becoming Beck/Arnley Corp. of California. He eventually went on to become president of Beck/Arnley Corp.
3M Broadens Industrial Adhesives Portfolio with Purchase of Two French Businesses
ST. PAUL, Minn. — 3M has entered into an agreement to acquire EMFI S.A. and SAPO S.A., manufacturers of polyurethane-based structural adhesives and sealants headquartered in Haguenau, France. The purchase is subject to compliance with third party notice and approval requirements. Terms of the transaction were not disclosed. EMFI/SAPO’s high-performance adhesives and sealants will complement
Gentex Reports Record Second Quarter Revenues
Gentex Corp., the Zeeland, Mich.-based manufacturer of automatic-dimming rearview mirrors and commercial fire protection products, has reported record second quarter revenues for the quarter ended June 30. The company also announced that it repurchased approximately 1.2 million shares of its stock during the second quarter of 2008.
Submit Your Pick for Aftermarket Woman of the Year
Every year during its reception at AAPEX, the Car Care Council Women’s Board awards its Aftermarket Woman of the Year Award. Winners are chosen by the Women’s Board executive committee based on her longevity in the aftermarket, her career accomplishments, her leadership capabilities and dedication to the automotive aftermarket industry. Submit your pick for Aftermarket Women of the Year.
University of the Aftermarket to Offer In-Depth Look at Impact of Rising Fuel Costs During AWDA Conference
The University of the Aftermarket will present an exclusive executive-level business seminar covering the impact of rising petroleum prices on distributors during the 2008 Automotive Warehouse Distributors Association (AWDA) Business and Education Conference in Las Vegas this fall. The program, “The Petroleum Problem: Strategies and Solutions for Distributors,” will take place from 2 to 4:15 p.m. on Sunday, Nov. 2, at the Venetian Resort Hotel and Casino. The seminar, which will precede AWDA’s Sunday General Session, is open to all aftermarket professionals. Registration is free for AWDA members and just $50 for non-members.