DENSO Announces Year-end Financial Results
DENSO Corp. has reported its global financial results for the fiscal year, which ended on March 31. The company reported consolidated net sales of $24.2 billion, a 9.8 percent increase from the previous year. Operating income totaled $1.8 billion, an 18 percent increase from the previous year.
UTI Expands Program at Florida Campus to Include Automotive Training
Universal Technical Institute (UTI), a national provider of technical education training, has announced a long-term agreement to expand program offerings at its Orlando, Fla., campus to include automotive training. The Orlando automotive program expansion will help to address the growing technician needs within that specific region, said UTI. According to state occupational projections, Florida has the third largest number of annual automotive technician openings in the U.S.
Radiator.com’s Marketing Drives Sales
A California company has found gold under the hood of America’s older vehicles – with a little help from Visteon Corp. In a little more than a decade, Radiator.com/1-800-Radiator has grown from a $2.5 million local business into a $60 million company with 34 locations nationwide.
Cooper Tire Reports All-Time Record Sales
Cooper Tire & Rubber has reported all-time record high sales of $974 million and a 56 percent increase in net income for the quarter, which ended on March 31. The record sales represent a 23 percent increase compared to the same period a year earlier. Net income increased by 56 percent, to $24 million, compared to $15 million in the first quarter of 2003.
DENSO Earns 2004 Climate Protection Award from EPA
The U.S. Environmental Protection Agency (EPA) has awarded its 2004 Climate Protection Award DENSO Corp., Toyota Motor Corp. and Toyota Industries Corp., which together comprise the Electrical Inverter Air Conditioning Team. The team developed an electrical inverter air conditioning system that provides cooling for the new 2003 Toyota Prius during “idle” stop when the engine shuts down to save fuel and emissions. The team was one of 12 organizations and individuals to receive the award.
Modine Aftermarket Division Expands Parts Lineup
The aftermarket division of Modine Manufacturing Co. has expanded its offering of parts kits for the replacement of key A/C system components. Marketed under the Air Pro Quality Parts brand, the lineup includes more than 250 packages.
Oklahoma’s Court OKs Bond Issues for 2 Tire Plants
Two tire manufacturers’ expansion plans totaling $450 million got a major boost Tuesday from the Oklahoma Supreme Court. The court approved a $66.3 million bond issue designed to help the Goodyear Tire and Rubber Co.’s $250 million plant expansion in Lawton, Okla. The bond issue also would help in a $200 million expansion at Michelin North American Inc. in Ardmore, Okla.
Cooper to Explore Sale of Automotive Business
Cooper Tire & Rubber is considering selling its Cooper-Standard Automotive Group. According to Thomas Dattilo, chairman, president and CEO of Cooper Tire & Rubber, said the company will be best served at this time by focusing on its tire business.
Experts Warn Industry’s Growth in South Carolina Will Be Flat at Best
South Carolina is chasing automotive manufacturing jobs even as the industry’s work force is slipping away from the U.S. Some experts warn South Carolina will lose its auto jobs too, as automakers and parts companies move jobs abroad or squeeze out jobs at home through efficiency gains. Some experts warn South Carolina will lose its auto jobs too, as automakers and parts companies move jobs abroad or squeeze out jobs at home through efficiency gains.
TRW Gets Rolling: After a massive IPO, Supplier Faces Hurdles
John Plant, chief executive of newly independent TRW Automotive Holdings Corp., remembers when his company was a corporate stepchild. As the auto-parts unit of former industrial conglomerate TRW Inc., it didn’t get favorable treatment, even when it generated cash for the business.