Modine CEO Rings Bell Today To Begin Trading on NYSE
Modine President and CEO David Rayburn rang the bell this morning to open trading on The New York Stock Exchange (NYSE) celebrating the start of trading of Modine common stock on the NYSE. Modine common stock will be traded under the new ticker symbol “MOD.” The company transferred its common stock to the NYSE on October 14 from the NASDAQ where it had been traded under the ticker symbol “MODI.” Yesterday, Modine CEO Dave Rayburn and CFO Brad Richardson conducted a conference call from the NYSE to discuss the company’s fiscal 2005 second quarter results, which included net income more than tripling, and sales increasing 30 percent versus the comparable 2003 quarter.
Automotive Youth Educational Systems Gets $2.2 Million Grant From U.S. Department of Labor
The U.S. Department of Labor’s (DOL) Employment and Training Administration has awarded $2.2 million for the expansion of the Automotive Youth Educational Systems (AYES) automotive service technician training initiative. The U.S. Department of Labor’s (DOL) Employment and Training Administration has awarded $2.2 million for the expansion of the Automotive Youth Educational Systems (AYES) automotive service technician training initiative.
Monro Muffler Brake, Inc. Announces Record Second Quarter Results
Monro Muffler Brake has announced record financial results for the second quarter, which ended on Sept. 25. Second quarter sales increased 19.3 percent to $88.4 million from $74.1 million in the second quarter of fiscal 2004. The sales increase was driven, in part, by a 6 percent improvement in comparable store sales, following a 6.6 percent increase in the same quarter of last year.
Kyosan Denso Manufacturing Kentucky Celebrates Mt. Sterling Grand Opening
Kentucky traditions combined with an ancient Japanese ceremony gave a decidedly international flair to the grand opening of Japan-based Kyosan Denso Manufacturing Kentucky, LLC (KDMK).
Executive Interview with Randy Mordue, Director, Aftermarket Division, Akebono Corp.
Our latest edition of “Executive Interview” features Randy Mordue, director, Aftermarket Division, Akebono Corp. Mordue joined Akebono North America in 1999. He has more than 20 years of sales, national account and new business development experience within the automotive aftermarket industry. Mordue recently took the time to talk with aftermarketNews.com and bring us up to speed on the latest developments at Akebono.
Eastern Manufacturing Opens New Headquarters and Manufacturing Facility
Eastern Manufacturing Inc., a manufacturer of catalytic converters and related components, has established a new 115,000-square-foot headquarters and manufacturing facility in Langhorne, Pa. Combined with its nearby R&D facilities, Eastern’s site now encompasses more than 150,000-square-feet of space for administrative, manufacturing, warehousing and R&D.
WIX Launches Carbon Monoxide Cabin Air Filtration System in NASCAR Craftsman Truck Series
WIX Filters has launched its carbon monoxide cabin air filtration system into the NASCAR Craftsman Truck Series. After a successful start last season in the NASCAR NEXTEL Cup Series with the Joe Gibbs Racing team, the WIX Filters U.S. patent pending carbon monoxide cabin air filtration system ran in Robert Huffman’s No. 12 Toyota Tundra Toyota for the first time in a NASCAR Craftsman Truck Race at Richmond on September 9.
Modine to List Common Stock on The New York Stock Exchange
Beginning on Oct. 14, the common stock of Modine Manufacturing Co., a developer and supplier of thermal management solutions for diversified markets, will be listed and traded on The New York Stock Exchange (NYSE) under the new ticker symbol “MOD.” “This is a significant and exciting step in our company’s 88-year history,” said David Rayburn, Modine president and CEO. “We think there are many good reasons to move to The New Stock Exchange at this time.”
American Tire Distributors Joins ACCC
American Tire Distributors (ATD), whose purchase of Target Tire’s wholesale business earlier this month created voids in American Car Care Centers’ (ACCC) program, has formally joined ACCC as a full member distributor. ATD will take over much of the ACCC territory previously covered by Target Tire, including all customers in North and South Carolina, Georgia and southeastern Tennessee.
Universal Technical Institute to Build New Automotive Training Campus in Boston Area
Universal Technical Institute (UTI), a provider of technical education training, has entered into an agreement to purchase a property in the Boston suburb of Norwood, Mass., where it plans to open a new undergraduate automotive technician training campus. The Norwood campus is expected to open in the fourth quarter of fiscal 2005.