Last Call for NABC PRIDE Nominations
RICHMOND, VA — The National Auto Body Council (NABC) has announced the last call for nominations for the 2006 PRIDE Awards, which recognize industry professionals that exhibit the type of bravery, generosity, genius and passion that exemplify the National Auto Body Council’s mission to improve the image of the collision repair industry. Over the past
Ralf Voss Named Senior Executive Vice President at Hella
Ralf Voss has been named senior executive vice president for Hella KGaA Hueck & Company’s electrical and electronics division. Voss will be responsible for development and manufacturing of driver-assistance systems, as well as body electronics. He also will coordinate the division’s NAFTA activities.
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.
Hella Sets Goals For Major Growth
Hella KGaA Hueck & Co. said this week it hopes to double its global sales of automotive lighting, electronics and aftermarket products to more than $7 billion in the next six years. The company also aims to significantly increase its American and Asian business in that time period. Hella has organized its global business into three divisions: lighting, electronics and aftermarket and special equipment, according to Jean-Francois Tarabbia, CEO of Hella’s Electronics Division.
MANN+HUMMEL Expands North American Product Offerings
MANN+HUMMEL is expanding its product development, testing and manufacturing operations in North America. The enhancements are part of the investment that MANN+HUMMEL will make in North America in the next three years, on both product development and manufacturing facilities, to expand its filtration technology. Included in the project are plans to expand engineering support at the company’s Portage, MI, facility. The Portage facility, along with the South Bend, IN, location began production of five new product lines in 2005 and anticipates six more program launches in 2006 for Ford, DaimlerChrysler, BMW, Nissan and Toyota.
EDITORIAL: To Save Detroit, U.S. Needs Tariffs
The accelerating woes of Ford and GM and the ongoing crisis in the auto parts industry have produced vows from Detroit that business-as-usual won’t continue. Yet, unless business-as-usual in U.S. trade policy ends too, and Washington imposes sweeping emergency tariffs on imports of manufactured goods, the American-owned automotive industry will soon disappear, and along with it much of the rest of America’s core manufacturing.
CRP Industries Opens Canadian Operation
CRP Industries has opened a new office in Toronto to better serve its growing customer base in the Canadian automotive aftermarket. The opening of CRP’s Canadian office is part of the company’s NAFTA market business strategy. CRP Canada will be led by General Manager Ken Edwards. Edwards has more than 20 years of sales management experience in the Canadian automotive aftermarket.
Saurer Acquires Fairfield Manufacturing Company
Global transmission supplier Saurer has acquired 100 percent of the share capital of Fairfield Manufacturing Co., Inc. In 2005, Fairfield had sales of approximately $230 million and a workforce of 1,650 employees. The company’s headquarters and main production facility is located in Lafayette, IN. In addition, Fairfield has a manufacturing presence in Belgaum, India. Fairfield will be integrated into Saurer’s Transmission Systems division, Graziano Trasmissioni.
Bosch and MANN+HUMMEL to Acquire Purolator Filter Business from ArvinMeritor
The Bosch Group and MANN+HUMMEL today announced plans to acquire the Purolator filter business from ArvinMeritor around April 1. The business will be continued as a 50:50 joint venture. The acquisition is subject to approval by the relevant authorities. The acquisition covers all Purolator oil, air, fuel and cabin filters.
Continental Releases 2005 Financial Results
International automotive supplier Continental AG released its 2005 financial results, which showed an increase of 30.2 percent in operating income and a 9.8 percent increase in consolidated sales. Operating results increased to $1.9 billion, and consolidated sales rose to $17.2 billion from the previous year, Continental reported. The passenger and light truck tire division increased sales to $5.5 billion, from the prior year number of $5.1 billion. Operating result increased by 57.5 percent, to $832 million.