Two Collins & Aikman Board Members Resign
Two board members investigated internally for insider deals have resigned from auto supplier Collins & Aikman Corp. (C&A), which has lost money three years in a row, and on Thursday reported another first-quarter loss. The quarter’s red ink was slightly less than it was the same period a year ago.
DST Asks:Does Your Multi-Store Business Management System Capture and Consolidate Operating Information?
It’s the American way. Start your own business. Perfect your methods. Hire good people. Grow your customer base. Perfect the idea at one location, then expand by adding new locations that share the same business model. Thousands of successful retail enterprises have started in exactly this way. It’s a fundamental way to apply the principle we all learned in Economics 101 – economies of scale. Business 101 would call it leverage. Good entrepreneurs call it survival!
Challenge Ahead for Detroit’s Automakers
Detroit’s Big Three automakers — General Motors, Ford, and Chrysler — are going to have to make changes in their products if they want to stay competitive, says automotive trend watcher Micheline Maynard.
Modine Expands Global Presence through Acquisition in Asia
Modine Manufacturing Co. has signed a definitive asset purchase agreement for a major expansion into Asia through the acquisition of the Automotive Climate Control Division (ACC) of WiniaMando Inc. WiniaMando, headquartered in South Korea, designs and manufactures heating, ventilating and air conditioning (HVAC) systems for commercial vehicles, trucks, buses and trains as well as other heat transfer components, such as oil coolers and charge air coolers.
Executive Interview with Kathleen Schmatz, President and CEO of AAIA
Our latest edition of “Executive Interview” features Kathleen Schmatz, President and CEO of the Automotive Aftermarket Industry Association (AAIA). Schmatz became president and CEO of AAIA on Jan. 1, 2004. She had served as executive vice president of the association since January 2002. In addition to filling us in on her first few months at her new post, Schmatz shared with aftermarketNews.com updates on AAIA’s merger with AWDA, Right to Repair legislation and the Be Car Care Award Campaign.
Executive Interview with Rex Falkenrath, Founder and CEO of Hi-Tech Engine Components
Our latest edition of “Executive Interview” features Rex Falkenrath, founder and CEO of Hi-Tech Engine Components. Falkenrath founded Hi-Tech in August of 1973. With more than 31 years in business, Hi-Tech Engine Components has developed a full line of engine parts and kits sold nationally through parts store chains and program distribution groups. Join us as we learn more about Hi-Tech Engine Components and the engine parts market.
Tire Shipments Gain Momentum This Year: RMA
According to the Rubber Manufacturers Association (RMA), tire shipments will grow 3.2 percent overall in 2004, due to a rebound in the commercial trucking sector and a strengthening U.S. economy. Tire shipments for 2003 increased by 0.6 percent, compared to 2002 levels, said the RMA, as a result of a strong replacement tire market demand being offset by a decline in light vehicle OE tire markets.
Siemens VDO Automotive Awarded Cooling Fan Assembly Business for Three Major U.S. Accounts
Siemens VDO Automotive has been awarded the entire cooling fan assembly business for AutoZone, O’Reilly’s Auto Parts and CSK. According to Sean Stanic, aftermarket sales director for Siemens VDO Automotive Service & Special Solutions, the company was selected for its OE-style fit and reliability.
Firms Eye Cooper, Dana Auto Part Units-Sources
A handful of large private equity firms are considering bids for two key automotive parts businesses on the auction block, sources close to the situation said. Both Dana Corp. and Cooper Tire and Rubber Co. have announced they may divest their auto parts businesses. Each unit may separately fetch $1 billion or more, analysts estimate.
Automotive Specialty Industry Enjoyed Growth in 2003, Reports SEMA
Despite a sluggish economy, the U.S. automotive specialty equipment industry grew 7.7 percent to $28.9 billion in 2003, according to new findings from the Specialty Equipment Market Association (SEMA). Despite a sluggish economy, the U.S. automotive specialty equipment industry grew 7.7 percent to $28.9 billion in 2003, according to new findings from the Specialty Equipment Market Association (SEMA).