Wichita, Kan., Economic Board Wants to Bring Automotive Jobs to Area
An economic group in Wichita, Kan. has added the automotive industry to a list of industries that it would like to target in its effort to draw more jobs to the town. A Sept. 14 article in the Wichita Eagle reported that the Greater Wichita Economic Development Coalition — the area’s main economic development group — plans to start calling on companies in the automotive industry, among other industries, as part of its plan to bring more than 8,000 jobs to the area in the next five years.
IBM Broadens Suite of RFID Services for Mid-Size Industrial Businesses
IBM announced this week an expansion of its services for companies seeking help with radio frequency identification (RFID) technology. Over the past several months, IBM has developed RFID services for industrial companies, such as those in the automotive, aerospace and defense, manufacturing, chemicals and petroleum, forest and paper and electronics industries, and for mid-market companies, which IBM defines as those with less than 1,000 employees. The services, which are available now and officially unveiled Tuesday, include consulting, development of a business case, technical proof of concept, pilots for the client and trading partners and full system implementation.
Executive Interview with Shozo Kibata, Senior Corporate Officer of Toyo Tire
This week, Jim Smith, editor of Tire Review (a sister publication to aftermarketNews.com) talks with Shozo “Carlos” Kibata of Toyo Tire Corp. Shozo “Carlos” Kibata is a very busy man right now, far busier than he was a scant four months ago when he was president of Toyo Tire (USA) Corp. in Cypress, Calif. Since June 1, Kibata was tapped to head Toyo Tire North America, a subsidiary of parent Toyo Tire & Rubber Co. that was created to build and manage the tiremaker’s first North American tire plant. And, as a reward for his hard work in the U.S., Kibata was named senior corporate officer of the parent company.
Pep Boys Announces Share Repurchase Program
The board of directors for Pep Boys has authorized a share repurchase program for the purchase of up to $100,000,000 of its outstanding common stock. This new program replaces the one previously authorized by the board in March 2003 under which no shares were repurchased. Pep Boys has been reinvesting in its business lately, primarily through a store remodel program and store expansions. CEO Larry Stevenson said the company expects sales and earnings to fluctuate during the next few quarters.
DuPont Notifies Customers About Short-Term Supply Issue for Hydrofluorocarbon 134a
DuPont Fluorochemicals is notifying customers of a supply shortfall for hydrofluorocarbon (HFC) 134a, marketed as DuPont Suva 134a refrigerant, DuPont Dymel 134a aerosol propellant, and DuPont Formacel Z4 foam expansion agent. DuPont Fluorochemicals is notifying customers of a supply shortfall for hydrofluorocarbon (HFC) 134a, marketed as DuPont Suva 134a refrigerant, DuPont Dymel 134a aerosol propellant, and DuPont Formacel Z4 foam expansion agent.
RMA Gets Political
The Rubber Manufacturers Association (RMA) is hoping to boost the rubber industry’s participation in the upcoming presidential election. RMA has added a link to the Business Industry Political Action Committee’s (BIPAC) Prosperity Project on its web site — www.rma.org. The Prosperity Project is an online tool dedicated to increasing public awareness on political issues and voting. Through its participation in the project, visitors to the RMA web site can register to vote, contact elected officials or find information on the 2004 presidential election, legislation and policies.
Street Glow Promotes Two Executives
Street Glow, a manufacturer in auto-neon and performance lighting, has promoted Ralph Dodge to vice president of sales. In this new role, Dodge will be responsible for the corporation’s entire sales effort and will report to COO/CFO John Bailey. Dodge, who has been with Street Glow for one year, previously served as director of national accounts for the company. He has more than 26 years of sales experience in the automotive aftermarket, selling to retailers, mass merchants and nontraditional markets.
Delphi Seeks to Double European Market Share in Mid-Term
Delphi Automotive Systems Corp wants to double its European market share in the mid-term, Volker Barth, vice-president of the company’s European operations told Focus Money magazine in an interview to appear tomorrow. Delphi currently has a market share of about 6 percent, far less than European market leader Bosch’s 12.8 percent share, the magazine reported.
Pronto Member XL Parts Expands its Distribution Center
Houston-based wholesale automotive parts distributor, XL Parts recently announced plans to build a new, state-of-the-art, 187,000-square-foot corporate office and distribution facility to further enable the company to continue its aggressive growth strategy. The warehouse, which will be located on a 24-acre site in Houston, is scheduled to be completed in late December with a move-in date of January 2005.
Champion Parts Reports Continued Profitability for Second Quarter
Champion Parts, Inc., a remanufacturer of automotive parts, announced net income for the second quarter, which ended on June 27, of $322,000, or 9 cents per share, compared to $613,000, or 17 cents per share for the same period in 2003. Net sales were $5,124,000, compared to $6,973,000 in 2003.