Jim Pearl Rejoins Denman Tire Corp.
James Pearl has rejoined Denman Tire Corp. as senior vice president of sales and marketing. Pearl worked for Denman for ten years prior to leaving in late 2002 to pursue other opportunities. Pearl will once again have overall responsibility for the sales and marketing functions and will be leading and coordinating the efforts of the sales and marketing department.
Cooper Tire Increases Capacity at Ohio Plant
Cooper Tire & Rubber Co. said it plans to add capacity at its Findlay, Ohio, tire plant with an equipment investment of $1.8 million. The capacity will increase by 500,000 tires annually and add at least 30 additional jobs in the Findlay production facility. The facility should be running at full production levels with new equipment in place by late summer.
Radiator Repair Chain Takes Pollution Prevention Seriously
Radiator repair work — with antifreeze, lead-based solder and other hazardous materials — seems anything but environmentally friendly. But Mac’s Radiator, a Portland, Ore.-based chain of repair shops with a Eugene outlet, is part of an industry effort to change that perception. The Mac’s shop in west Eugene is the first business in the city to be certified under the Eco-Logical Business Program, a government-run pollution prevention project for small businesses.
Hella and Stanley Purchase Shares in Korean Auto Supplier
Automotive lighting suppliers Hella KG Hueck & Co. and Stanley Electric Co. Ltd. have purchased a five percent share in Korean auto supplier Samlip Industrial Company Ltd., based in Daegu, Korea. According to Joe Borruso, president and CEO of Hella North America, the investment represents a further expansion of the company’s 15- year-old relationship with the Korean supplier.
R&B Reports Sales and Earnings for the Fourth Quarter and Full Year
Automotive replacement parts supplier R&B has announced financial results for the fourth quarter and year, which ended December 27, 2003. For the fourth quarter, sales increased 1 percent to $55.6 million from $55.1 million in the same period last year. Net income in the fourth quarter of 2003 was $3.8 million compared to net income of $3.5 million in the same period in 2002. Diluted earnings per share in the fourth quarter increased 8 percent to $0.42 from $0.39 in the same period last year.
DENSO Announces Third-quarter Financial Results
DENSO Corp., parent company of Southfield, Mich.-based DENSO International America, announced global financial results for the third quarter, which ended Dec. 31, 2003. The company reported consolidated net sales of $6 billion, which totaled 53 percent of the company’s original estimate at the interim period of $11.3 billion, for the latter half year ending March 31, 2004. Operating income totaled $578.5 million, and operating margin was 9.7 percent, 74 percent of the original latter-half year estimate of $779.4 million.
Bill Grote Names Eric Morris President and COO of Grote Industries, Grote to Assume Chairman/CEO Role
Eric Morris has been appointed to the newly created post of president and COO at Grote Industries. William (Bill) Grote III will assume duties of chairman and CEO at the 103-year-old family owned company. Grote Industries is a designer and manufacturer of vehicle safety systems. Headquartered in Madison, Ind., Grote manufactures LED and incandescent lamps, mirrors, obstacle detection systems, reflective accessories and wiring components. The company has other manufacturing plants in Toronto and Waterloo, Canada, as well as Monterrey, Mexico.
Rema Tip Top/North America Announces Two Executive Appointments
Rema Tip Top/North America’s TRM division has expanded its national account department and appointed two new executives. As part of the expansion, Kevin Sapp has been named national account manager. In this new role, Sapp will continue to develop Rema Tip Top’s business with OEM tire manufacturers, retread material manufacturers, retail tire chain, mass merchandisers and automotive distribution chains. Additionally, the company has named Michael Gibson as its new south central zone territory manager. Gibson brings 11 years of experience to the position, coming from Schrader-Bridgeport where he fulfilled various responsibilities in sales, operations and purchasing.
Highlights from 2003 AAPEX and SEMA Shows Tonight on “Two Guys Garage”
An on-location episode of the “Two Guys Garage” television show recorded during Automotive Aftermarket Industry Week in Las Vegas will air this evening, Feb. 4 at 8 p.m. EST on SPEED Channel.Show hosts Sam Memmolo and Dave Bowman conducted on-site interviews with key corporate and industry leaders at the Automotive Aftermarket Parts Expo (AAPEX) and the Specialty Equipment Manufacturers Association (SEMA) shows in November 2003.
“DST Asks”: Adding Service/Installation as an Additional Profit Center in a Parts Enterprise
How many readers know that Starbucks, the ubiquitous coffee retailer, actually began operating as a coffee roaster in Seattle, selling bags of whole bean coffee in Pike Street Market? It took a visionary leader, Howard Schultz, coupled with an ambitious operating plan and enterprise management technology to morph the business into the worldwide coffeehouse chain and merchandising success story we see today. And this all happened in an incredibly short period of time…with growth from 17 outlets in 1987 to 7,225 outlets today. All of this was based on the simple premise, “We already have customers who buy our coffee beans — what if we brewed the coffee for them, too?” We see a similar opportunity in parts distribution.