Delphi Set to Trim 150 Tech Jobs
Auto-parts giant Delphi Corp. is shedding at least 150 well-paying technology jobs and will shift some of the work overseas to an Indian firm. The move is one step in the company’s effort to pare down its 500-person information technology staff. Troy, Mich.-based Delphi becomes just the latest multibillion-dollar corporation to move white-collar jobs to India or other lower-wage countries. The increasingly common development called offshoring has become a hot-button issue in the presidential campaign as jobs have been slow to return to the U.S. economy.
TRW Trims Losses
Livonia-based TRW Automotive Holdings Corp., the world’s No. 2 maker of automotive air bags, said its fourth-quarter loss narrowed to $1 million, or 1 cent a share, as currency-exchange gains and auto-parts demand boosted sales. TRW has a year-earlier loss of $33 million. Sales climbed 12 percent to $2.98 billion from $2.67 billion, the company said in a statement. A year ago, TRW was part of defense contractor Northrop Grumman Corp.
GPI Announces Merger with Straus-Frank Co.
David J. Straus, chairman and CEO of Strafco, Inc. and O. Temple Sloan, Jr., chairman and CEO of General Parts, Inc. (GPI), have jointly announced an agreement to merge the two companies. Both GPI and Strafco, also known as Straus-Frank Co., have been members of the CARQUEST Distribution Group for more than 30 years.
Edelbrock 2004 Catalog Now Available
The new 2004 Edelbrock Catalog for American Cars & Trucks is now available. Sporting a historic cover shot of Vic Edelbrock Jr. with his father’s just-restored ’32 Ford Roadster, the new catalog has 244 pages of automotive parts including manifolds, shocks, cylinder heads, fuel pumps, carburetors, camshafts, headers, crate engines, etc. It is also the company’s largest catalog to date.
R&B Reports Sales and Earnings for the Fourth Quarter and Full Year
Automotive replacement parts supplier R&B has announced financial results for the fourth quarter and year, which ended December 27, 2003. For the fourth quarter, sales increased 1 percent to $55.6 million from $55.1 million in the same period last year. Net income in the fourth quarter of 2003 was $3.8 million compared to net income of $3.5 million in the same period in 2002. Diluted earnings per share in the fourth quarter increased 8 percent to $0.42 from $0.39 in the same period last year.
Cavanaugh Named Assistant Treasurer at Goodyear
Goodyear Tire & Rubber has named John Cavanaugh assistant treasurer. Cavanaugh joined Goodyear in July 2003 as director, treasury. Prior to that, he had been director of capital markets for Visteon. Cavanaugh joined the autoparts maker in June 2000 as manager of cash and pension investments. He worked at Kmart Corp. in financial analysis and treasury from 1998 to 2000.
More Than 300,000 Tests Taken in CCAR’s S/P2 Online Training
The Coordinating Committee For Automotive Repair (CCAR) has surpassed 300,000 tests taken in its “S/P2” online training in Safety and Pollution Prevention for the automotive repair industry.
Family Affairs at Two North American Supplier Giants Could Spell Trouble
The family ownership rampant among mid-sized German suppliers is sometimes seen as a liability compared to North America’s bottom line-obsessed car parts makers. But last week, two of North America’s biggest suppliers — Lear and Magna — looked more like fickle family enterprises than the publicly traded automotive giants they are.
Modine Expands Aftermarket Radiator Model Coverage
The aftermarket division of Modine Manufacturing has added more than 100 complete replacement radiators to its 2004 product line. The expanded radiator line, currently available, includes thousands of applications from domestic and import cars and light trucks. Modine’s aftermarket supplies replacement radiators both nationally and internationally, including distribution through major national accounts like NAPA, Pronto, Parts Plus, APA, independent automotive parts distributors, and more than 25,000 local repair outlets.
Executive Interview with Rich White, Vice President of Marketing & Communications, AAIA, and Executive Director of the Car Care Council
Rich White is vice president of marketing and communications for the Automotive Aftermarket Industry Association (AAIA). He oversees marketing, public relations, media relations, publications, Web sites and most recently, the Car Care Council and the “Be Car Care Aware” consumer education campaign. With National Car Care Month just around the corner, White provided aftermarketNews.com with an update on the “Be Car Care Aware” consumer education campaign and the Car Care Council’s plans for this year. He also shared how aftermarket companies can become more involved in the campaign.