Timken Board Nominates NAM President Jerry Jasinowski; Announces Two Retirements
Jerry Jasinowski, president of the National Association of Manufacturers (NAM), has been nominated for membership on the Timken board of directors. He will stand for election at the annual shareholders’ meeting on April 20. Additionally, two current board members have announced their retirements.
Akebono Announces Passing of Regional Sales Manager Carl Schaefer
Akebono announced yesterday that Eastern Regional Sales Manager Carl Schaefer unexpectedly passed away in January. Schaefer was a 25-year veteran of the automotive aftermarket business, with a focus on brake systems. He joined Akebono in 2002 and managed the company’s aftermarket sales in the eastern U.S. and Canada.
Delphi Says Law Will Affect Payouts
Delphi has said the Medicare prescription-drug law passed last month may reduce the company’s future payouts for retiree health-care coverage by $454 million. The company’s obligation at the end of 2003 would have been $8.02 billion with the legislation, or five percent less than $8.47 billion reported, Delphi said in an annual regulatory filing.
Amerityre Begins FMVSS No. 109 Testing of Prototype Polyurethane Car Tires
Amerityre Corporation announced that it has been submitting prototype polyurethane car tires to an independent lab for testing to determine if the tires comply with Federal Motor Vehicle Safety Standard No. 109, applicable to new pneumatic tires. FMVSS No. 109 specifies tire dimensions and laboratory test requirements for bead unseating resistance, strength, endurance and high-speed performance; defines tire load ratings; and specifies labeling requirements for passenger car tires.
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.
Who’s Buying Whom?
Who owns the suppliers of today? New owners include leveraged buyout firms, putting a new spin on the old consolidation trend. In the wake of Dana’s announcement to sell off its aftermarket businesses comes the speculation of who will buy it. Water cooler conversations in the office haven’t exactly been at a fevered pitch. That’s a dramatic change from just a few short years ago when SPX was trying to make a hostile purchase of Echlin (which ultimately ended up in the hands of Dana), or when Federal-Mogul was buying up companies as part of former CEO Dick Snell’s major consolidation plan. Those were the good old days of major aftermarket acquisitions. Now, we’re left to ponder the fate of the Dana Automotive Aftermarket Group. The big question is: Who among the current base of manufacturers is a candidate to make such a large acquisition?
R. L. Polk & Co. Establishes Commercial Vehicle Advisory Board
R. L. Polk & Co. has announced the formation of its first-ever commercial vehicle advisory board. This new board is charged with advising Polk on its strategic position in the commercial vehicle sector, product offerings, providing input on marketing communication strategies and supporting Polk’s commercial vehicle sales team in growing customer relationships.
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.
Delphi Appoints Three New Sales Managers in North America
Delphi Corp. has named three new sales managers for North America. Jim Eady, Darrel Reuss and Steve Tucker will serve as regional sales managers for vehicle electronics in North America for Delphi Product & Service Solutions. Eady will cover the Southeast, Reuss the Midwest and Tucker the Northeast and all will report to Scott Donnelly, North American vehicle electronics sales manager.
ArvinMeritor’s Yost to Discuss Heavy Duty Supplier Industry Trends at Heavy Duty Dialogue
Larry Yost, chairman and CEO of ArvinMeritor will discuss the challenges facing the heavy duty supplier industry at Heavy Duty Dialogue 2004, slated for Feb. 9 and 10. The event will take place at the Atlanta Airport Hilton and Towers, Atlanta Hartsfield International Airport, Atlanta, Ga. This is 13th in the biennial series presented by the Heavy Duty Manufacturers Association (HDMA).