Collins & Aikman Reveals Insider Deals
Collins & Aikman Corp. revealed Wednesday that it paid a board member $300,000 to serve as vice chairman for six months in 2002 and did millions of dollars of business with another board member. The company had failed to fully disclose details on those transactions to shareholders.
Executive Interview with Tony Perticari, Vice President of Sales and Marketing, Crown Remanufacturing
Our latest edition of “Executive Interview” features Tony Perticari, a 35-year veteran of the automotive parts industry. Perticari joined Philadelphia-based Crown Remanufacturing in 1986. He currently serves as vice president of sales and marketing for the company and is responsible for all NAFTA and overseas sales and marketing activities. Join us as Tony Perticari tells us what makes Crown tick, and what it takes to stay ahead of the pack. He also shares with us his predictions for the future of the reman industry, and the company.
Midas Completes Debt Refinancing
Midas has entered into a three-year, $115 million credit facility to refinance its existing debt. The new facility consists of a $55 million revolving loan and a $60 million term loan from a group of lenders led by Bank One, NA.
MACS, Four Seasons Sponsor Car Care Council Women’s Board Scholarships
The Car Care Council Women’s Board has announced that the Mobile Air Conditioning Society Worldwide (MACS) and Four Seasons, Inc., a division of Standard Motor Products, Inc., have each agreed to sponsor a $500 scholarship for a female student interested in entering the automotive aftermarket.
BWD Automotive Offers New Niehoff Emission Control Systems Parts Catalog
BWD Automotive has announced the availability of its Niehoff Emission Control Systems parts catalog, No. 04-EC. The catalog lists applications for emission control systems parts for North American and imported passenger cars and trucks. All model years are covered, including both light duty and medium duty trucks.
Subaru Recalls Certain Six Cylinder Outbacks and Impreza WRX Vehicles
Subaru of America has announced a voluntary recall on certain 2001-2004 six cylinder Outback models, and 2002-2004 Impreza WRX 2.0L models to address a possible cruise control cable problem. Approximately 127,580 vehicles are potentially affected, according to Subaru.
DST Asks: Where Do Your Profits Come From — Products or Customers?
Last week we asked: Internally does your current computerized business system provide comprehensive data for managing stocking decisions? This question begs another related question: Where do you make your profits, from your products or from your customers?
SmarTire Signs Distribution Agreement with Lexani Wheel Corp.
SmarTire Systems has signed a distribution agreement with Lexani Wheel Corp, a manufacturer of luxury alloy wheels based in California. Lexani will bundle SmarTire’s tire pressure monitoring system (TPMS) with its Johnson line of custom wheels, which are sold through its dealer base.
Goodyear Teams Up with Wal-Mart on RFID Supply Chain Technology
As part of its effort to stake out a leadership position in Radio Frequency Identification (RFID) applications, Goodyear Tire & Rubber has teamed up with Wal-Mart in a massive retail implementation of this new technology. In June 2003, Wal-Mart Stores announced that its 100 largest suppliers would be required to begin using RFID tags on every case and pallet of product shipped to the retailer’s Dallas region stores by 2005. Approximately 25 other suppliers, including Goodyear, volunteered to also participate in this effort.
Key Plastics Names Group President for Exterior & Underhood Products
Key Plastics L.L.C. has named David Roys group president for exterior and underhood products. He replaces Timothy Nelson, who was recently named president and chief COO of Key Plastics L.L.C. North America. An affiliate of the Key Automotive Group, Key Plastics produces value-added components and sub-assemblies for exterior applications, interior trim and under-the-hood products.