Neil Peters, Former TBEA Division President, Dies
Neil Peters Jr, former president of the Michigan-Ohio Regional Division of the Truck Body and Equipment Association (TBEA) from 1972-1973, died Jan 2, at home.
MACS Installs 2004 Board and Officers
New officers and board members were sworn in during the MACS annual membership meeting Jan. 24. Serving as officers in 2004 are: Chairman — Michael Deese, Santech Industries, Ft. Worth, Texas; Vice Chairman — Gus Swensen, Cool Car Auto Air, Columbus, Ga.; Treasurer — Andy Fiffick, Rad-Air Complete Car Care in Garfield Heights, Ohio; and Secretary — Kevin Burton, Four Seasons, Lewisville, Texas.
Automechanika Exhibit Space Selling Out
With strong early sales of space in the U.S. Pavilions at Automechanika, Sept. 14-19, especially in Hall 1 (parts and components) and Hall 8 (garage, tools and equipment), interested firms should call the pavilion organizer soon to reserve space.
Edelbrock Reports Improved Sales and Earnings for Second Quarter of 2004
Edelbrock Corp. has reported sales and earnings for the second quarter and first six months of 2004, which ended Dec. 25, 2003. For the quarter, revenues increased to $31,741,000 from $31,015,000 in the same period of fiscal 2003. Net income for the second quarter improved to $1,287,000, or 24 cents per basic share (23 cents per diluted share), from net income of $1,197,000, or 22 cents per basic and diluted share, for the second quarter of fiscal 2003.
Compuware Panning to Buy Covisint
Compuware Corp., the largest high-tech company based in Michigan, is expected to announce that it will purchase financially struggling Covisint LLC, according to documents on Compuware letterhead obtained by the Detroit Free Press. The acquisition, expected to be completed within 30 days for an undisclosed “small cash transaction,” ends the most expensive Internet start-up and flop ever launched in Michigan.
NASTF to Meet March 8 in Detroit
The National Automotive Service Task Force (NASTF) will meet March 8 in conjunction with the SAE Congress in Detroit, Mich. The meeting will be held at 6:30 p.m. at the Detroit Marriott Renaissance Center in downtown Detroit. NASTF meets semi-annually with committees meeting throughout the year.
American Axle & Manufacturing Elects New Board Members
American Axle & Manufacturing Holdings (AAM) has appointed two new members to its board of directors: Dr. Henry Yang, chancellor at the University of California, Santa Barbara, and Thomas Martin, a retired DaimlerChrysler financial executive.
TRW Raises $676 Million in Public Offering
TRW Automotive Holdings Corp., which was bought by private equity firm Blackstone Group LP for about $4.7 billion last year, has raised $676 million in an initial public offering. The Livonia, Mich.-based company sold 24.14 million shares of stock at $28 a share. The company had predicted it would sell the stock at between $28 and $30 a share.
IMR Founder Ken Brenneman Dies at 61
Kenneth Brenneman, Sr., founder and president of Industrial Marketing Research, an international automotive research firm, died Sunday, Dec. 28 of heart failure. He was 61-years-old. Brenneman founded Industrial Marketing Research in 1971 in Clarendon Hills, Ill., as a one-man operation. The firm quickly grew to become an international company that now serves the U.S., Europe and Asia.
Dana’s Terry Shively to be Featured on the C.A.R. Show
Terry Shively, vice president marketing and public relations for the Dana Automotive Aftermarket Group, will be featured on the C.A.R. Show radio program on Saturday, Feb. 7. The broadcast will air between 9 – 11 a.m. EST. During the broadcast, Shively will discuss the importance of preventative vehicle maintenance and the role that the Dana Automotive Aftermarket Group has played in supporting the Car Care Council’s “Be Car Care Aware” campaign. He will also discuss the need for the industry to continue to come together to capture a share of the $62 billion in unperformed vehicle maintenance.