Dana Elects Two New Board Directors
Dana Corp. has elected former Goodyear chairman Samir Gibara and David Berges, chairman, CEO and president of Hexcel Corp. to its board of directors. Dana Chairman Glen Hiner made the announcement.
Dana Opens New Automotive Systems Technology Center
Today, Dana Corp. unveiled a new Automotive Systems Group Technology Center, located near Toledo, Ohio. The nearly 200,000 square-foot facility features advanced component and system engineering, along with housing testing and purchasing experts. In addition to supporting research and development activities across North America, the new center augments Dana’s technical centers in the Asia-Pacific, South American and European markets, according to Dana CEO and President Michael Burns.
SKF/Chicago Rawhide Launches Redesigned Web Site
SKF/Chicago Rawhide has redesigned and relaunched its Web site — www.vsm.skf.com . The newly redesigned site combines interactive elements with a user-friendly, navigable layout to service the automotive and heavy duty aftermarkets, according to the company. SKF/CR designed the Web site to include interactive cataloging and product information. The company said it also worked to address the requests and needs of its distributor partners during the redesign.
Tom Lindberg Named President, CEO of Interdynamics; Company Named Advance Auto Parts Vendor of the Year
Tom Lindberg, former vice president, International for Honeywell’s Automotive Consumer Products Group, has been tapped to lead Interdynamics as president and CEO. Interdynamics manufactures mobile A/C and compressor products. Tom Lindberg, former vice president, International for Honeywell’s Automotive Consumer Products Group, has been tapped to lead Interdynamics as president and CEO. Interdynamics manufactures mobile A/C and compressor products.
Champion Parts Reports Fourth Quarter and Higher Year-End Profits
Champion Parts, Inc., remanufacturer of automotive parts, reported continued profitability for the fourth quarter, and higher profits for the year, which ended Dec. 31, 2003. Champion Parts, Inc., remanufacturer of automotive parts, reported continued profitability for the fourth quarter, and higher profits for the year, which ended Dec. 31, 2003.
Tenneco Automotive Launches New Line of DuPont Teflon Car Care Products
Tenneco Automotive has unveiled a new line of DuPont Teflon car care products. The new line is being manufactured and marketed by Tenneco Automotive through a strategic product alliance with DuPont. According to Michael Kullman, director of DuPont corporate marketing, DuPont Teflon car care products carry one of the world’s strongest consumer brands while delivering what consumers are looking for in car care products — a clean and shine that really lasts, combined with non-stick protection for their car finishes.
Timken Raises Earnings Outlook
Canton, Ohio-based Timken has increased earnings expectations for the first quarter and full year based on an improvement in company operations. The company expects earnings per diluted share of 25 cents to 30 cents for the first quarter of 2004 and $1 to $1.10 for the year, excluding special items. The company’s previous estimates were 15 cents to 20 cents per diluted share for the first quarter and 85 cents to $1 for the year, excluding special items.
DST Asks: Do You Sell from Inventory Locations that are Not Your Own or Are You Making Plans To?
The old maxim “You can’t sell from an empty shelf” has become outdated. Why? Because technology can ensure that shelves are never bare, at least from the customer’s standpoint, with the advent of the Virtual Inventory Network (VIN) — a term coined by DST to encompass B2B, B2C, and Peer-to-Peer e-commerce. A VIN, also sometimes referred to as a Virtual Sales Network, can provide leverage and cohesiveness of shared inventory across multiple trading partners both up and down and across the supply chain.
Aftermarket Suppliers: Be Aware of Legal Implications Related to Current Business, Industry Practices
Automotive aftermarket product manufacturers should review corporate internal and business policies with their company attorneys to assure compliance with Robinson-Patman and Sarbanes-Oxley laws, according to recent presentations to aftermarket executives sponsored by the MEMA Financial Services Group (MFSG). MFSG held the meeting for aftermarket supplier executives to discuss issues arising from current industry practices in regard to the laws passed by Congress.
Timken Named to Fortune 500
Canton, Ohio-based manufacturer Timken Co. was named to Fortune magazine’s Fortune 500 listing of the largest companies in the U.S. With $3.8 billion in sales in 2003, Timken is ranked 444 overall and 12 on Fortune’s list of industrial and farm equipment manufacturers.