Stanley Works Provides Supplemental Information About Offer for Facom Tools
The Stanley Works announced that it has made a firm offer to purchase Facom Tools from Fimalac for approximately $494 million in cash. Facom Tools, with 2004 sales of euro 370 million ($445 million) and LTM (last twelve months) operating profit of approximately 12 percent, includes the professional tool brands Facom, Usag (Italy) and Virax (plumbing tools), among others. The proposed transaction is subject to certain regulatory approvals and other customary conditions, including consultation with Facom’s labor representatives, which must be completed prior to the acceptance of the offer by Fimalac. Assuming successful completion of this process, closing is expected to occur by year-end 2005 or shortly thereafter.
Activant Buys The Systems House
Activant Solutions has acquired substantially all of the assets of The Systems House, Inc., a technology solutions provider for distributors primarily in the automotive aftermarket and office products industries. The acquisition will provide next-generation technology for Activant’s customers in the automotive aftermarket and wholesale distribution industries, key vertical segments in Activant’s vision for growth.
Lear’s Plunging Profit to Send Jobs Packing
The bug afflicting Detroit’s automotive industry is infecting even the healthiest companies now. Auto supplier Lear Corp. on Friday said it is planning an aggressive cost-cutting strategy, which includes moving manufacturing and engineering work to low-cost countries, after it posted a $75.8-million decline in profits during the first quarter of the year.
Executive Interview: Bill Maggs and Michael Mitchell Talk About the Recent Merger of Pronto and RPM
Following on the heels of RPM Group’s merger with Pronto, Mitchell and Maggs sat down for a phone interview with aftermarketNews. The two men gave us the scoop on what changes are on the horizon for the newly merged group as well as their thoughts on the future of programmed distribution.
Executive Interview: Bill Maggs and Michael Mitchell Talk About the Recent Merger of Pronto and RPM
Following on the heels of RPM Group’s merger with Pronto, Mike Mitchell and Bill Maggs sat down for a phone interview with aftermarketNews. The two men gave us the scoop on what changes are on the horizon for the newly merged group as well as their thoughts on the future of programmed distribution.
Executive Interview: Bill Maggs and Michael Mitchell Talk About the Recent Merger of Pronto and RPM
Following on the heels of RPM Group’s merger with Pronto, Mike Mitchell and Bill Maggs sat down for a phone interview with aftermarketNews. The two men gave us the scoop on what changes are on the horizon for the newly merged group as well as their thoughts on the future of programmed distribution.
BREAKING NEWS: Pronto, RPM Group Announce Merger
Two of the aftermarket’s programmed distribution groups — National Pronto Association and The RPM Group — today announced plans to merge. This is the second merger among program groups in as many months. In mid-January 2005, Parts Plus and IAPA announced their plans to join forces.
Executive Interview with Hoon Chung, President & CEO of DST, Inc.
Our latest edition of “Executive Interview” features Hoon Chung, who was recently named president and CEO of DST, Inc., in Mission Viejo, Calif. Chung has more than 20 years of management experience in supply chain management and technology deployment services. Prior to his role as the Automotive Group senior vice president and general manager at Activant, he was the COO of Adexa, Inc., which delivers intelligent enterprise business planning and performance management solutions that link strategic, tactical and operational aspects in optimizing enterprise-wide supply chain planning and synchronization. Chung recently talked with aftermarketNews.com about his new appointment to lead DST, what he envisions for the company’s future and what he brings from his experience in other industries.
Executive Interview with Max Dull, Vice President and General Manager of Beck/Arnley
Our latest edition of “Executive Interview” features Max Dull, vice president and general manager of Beck/Arnley. Join us as Max shares insights from his extensive aftermarket experience, fills us in on what’s new at Beck/Arnley and explains the Beck/Arnley business philosophy.
Executive Interview with John Washbish, President – Customer Relationship Management, Dana Automotive Aftermarket Group (AAG)
Every other week, aftermarketNews.com offers an interview with a high-profile individual in the automotive aftermarket. We give executives free rein to express their views on anything from the state of their corporations to recent legislative news to future trends in their niche markets. Here you see what matters to the newsmakers themselves.