Stylin’ Concepts Expands Call Center
Stylin’ Concepts, a direct marketer of parts and accessories for light trucks and SUVs, is expanding its call center, retail and administrative operations in Independence, Ohio. The company will move some of its warehouse operations to another location. Due to the need for more office and retail space, the company said it will move some of its distribution functions to a site outside the Independence area. The move will affect approximately 20 warehouse employees, most of whom will be absorbed into existing company operations in Independence.
Automakers Help Allies Handle Crises
Seeking to mitigate disaster costs after events such as 9/11 and last year’s blackout, Detroit automakers said Wednesday they’ll ask their suppliers and dealers to take part in a crisis management plan that will prepare them for emergencies. The automakers, working together through a trade organization called the Automotive Industry Action Group (AIAG), released a booklet that could serve as a guide for suppliers and dealers that either don’t have a contingency plan or want to modify an existing one. GM said that it will begin rolling out the process to all its 3,700 suppliers next week. The AIAG said the plan is voluntary for suppliers and will result in minimal costs for the companies.
New Tire May Put Goodyear on Track
It’s a mystery tire that’s making a lot of tire dealers, analysts and investors excited — and seems to be pushing the stock upward. Goodyear Tire & Rubber plans to launch a new high-end line of passenger tires next month with huge fanfare at its annual convention of dealers and distributors in Orlando, Fla. Some say the tire line, known as Assurance, could become Goodyear’s hottest-selling new line in a decade, a move that could go a long way to helping the Akron, Ohio-based company boost its flagging sales and turn around three years of losses.
Proposed Wal-Mart Causes Concern for Local Auto Parts Distributor
The idea of a new Wal-Mart going up in one Charlotte, NC, suburb is the cause of concern for some in the area, particularly a nearby automotive parts distributor. According to a report in the Charlotte Observer, a hearing on an application to build the new Wal-Mart store lasted more than five hours on Tuesday. Wanda Miller owns Belmont Automotive Distributors, which is located near the new proposed outlet for the national retail giant. Miller testified that she was concerned that Wal-Mart would take away business from her shop.
Magna President and CEO Resigns, Expected to Run for Canada’s Conservative Party
Belinda Stronach, president and CEO of diversified automotive supplier Magna International, has resigned. According to recent news reports, Stronach is expected next week to announce her candidacy for the leadership of Canada’s Conservative Party. Her father, Magna Founder and Chairman Frank Stronach, has assumed the position of interim president.
Noble International Completes LWI Acquisition, Plans to Sell Monroe Engineering Subsidiary
Noble International has completed its acquisition of Clinton Township, Mich.-based Laser Welding International (LWI), a supplier of laser-welded blanks to General Motors. The acquisition which was first announced late last week, now includes the proposed sale of LWI’s subsidiary, Monroe Engineering Products. Noble paid $14.7 million for LWI, with an additional $1 million payable if certain new business is awarded to Noble within the next twelve months.
Monro Muffler Brake Reports 26 Percent Increase in Third Quarter Net Income
Monro Muffler Brake has announced record sales and net income for the third quarter and nine months, which ended December 27, 2003. During the third quarter, sales totaled $64.5 million compared to $60.7 million last year. Comparable store sales experienced a four percent increase following a 3.8 percent comparable store sales increase in the same period for the prior year. The key drivers of the comparable store sales increase included an approximate 10 percent increase in the brake category, a 2 percent increase in exhaust sales, a 25 percent increase in scheduled maintenance and a 12 percent increase in commercial sales.
More Details on the Future of Honeywell’s Friction Materials Business
Yesterday, Honeywell announced that it had terminated discussions with Federal Mogul regarding the possible sale of its friction materials business, which manufactures and markets the well-known aftermarket brand Bendix. After several months of negotiations, the parties were unable to agree on terms of a deal. Now Honeywell has reported that the friction materials division will remain part of Honeywell and will become closely aligned with the company’s business initiatives and operating plan. According to Joe Puishys, president of Honeywell friction materials, the company is in the process of making investments in both the aftermarket and OE segments of the business.
“AMN Perspectives by Thomas Group: Experience at Work”
Welcome to the first installment of “AMN Perspectives by Thomas Group: Experience at Work.” What does “Experience at Work” mean? It means proven methods and techniques applied by seasoned executives resulting in measurable financial improvement. “Work” means that Thomas Group consultants are working implementers. We get into the client’s business and go to work side by side with the management and employees until objectives are accomplished, rather than preparing a plan and leaving it to the company to make it happen. Through “AMN Perspectives: Experience at Work,” Thomas Group consultants will comment on issues and news within the automotive aftermarket to provide constructive suggestions that work based on our experience in the automotive industry and more than 20 other industries and government agencies.
Tenneco Automotive Announces Executive Appointment
Tenneco Automotive has named Paul Novas vice president of finance and administration for the company’s European operations. Novas will also continue in his current role as corporate treasurer. Novas has served as vice president and corporate treasurer for Tenneco since 1999. He joined Tenneco Inc. in 1996 as assistant treasurer, responsible for corporate finance and North American treasury activities. He played an integral role in executing the financial transactions leading to the separation of Tenneco’s energy and shipbuilding businesses in 1996 and the separation of the packaging and automotive businesses in 1999.