Auto Data Network’s Aftersoft Group Signs Acquisition with W3 Group
Auto Data Network announced the signing of an acquisition agreement between Aftersoft Group Inc., a wholly owned subsidiary of Auto Data Network Inc. focused on the automobile after-market software business, and W3 Group Inc, a company publicly traded on the OTC Bulletin Board.
Timken Honored With Delphi Pinnacle Award
Timken was recently honored with the first-ever Delphi Pinnacle Award for Supplier Excellence. Delphi launched the award program with a ceremony recognizing its global suppliers that have achieved the highest levels of performance in quality, delivery, service and competitive cost expectations. Timken was one of only 77 suppliers from 15 countries honored with the Pinnacle Award.
Auto Data Network to Split DMS, Aftermarket Businesses
Auto Data Network Inc. (ADN), a provider of software and real-time data services to the global automotive industry, held a conference call Wednesday to announce several recent company developments. Among the items discussed during the conference call, the company announced plans to split its aftermarket software business and its DMS business into two separate entities. (In August of 2004, ADN acquired California-based CarParts Technologies, Inc.)
GSC Motorsports Launches Wholesale Division, Adds Three New Products to Lineup
GSC Motorsports, an East Coast distributor of aftermarket parts and accessories, has created a new wholesale division to accommodate its growing number of wholesale and retail customers. This announcement comes on the heels of the announcement of its private label business, GSC Power Division, which operates GSC’s private label parts production and sales.
Retailers Need In-store Reality Check to Combat Competition on Internet
With U.S. Internet sales on pace to reach $65 billion this year, according to government figures, what are storefront operators to do in 2005 to protect their slice of the action? Get real about the condition of your showrooms, says an expert who’s witnessed retailing good, bad and ugly.
S&P Lowers Credit Rating of Delphi
Delphi Corp., the world’s largest auto-parts supplier, had its credit rating reduced to below investment grade by Standard & Poor’s because of automaker production cuts and costs for steel and labor.
Magazines Announce ‘Readers’ Choice Awards’ Recipients
The readers of Babcox’s Counterman, Brake & Front End, ImportCar and Underhood Service magazines have announced the Readers’ Choice Award recipients for 2004. The awards are based upon those companies whose advertising most successfully communicated their messages to the aftermarket.
S&P May Downgrade Delphi Credit to ‘Junk’ Status
Standard & Poor’s said it put Delphi Corp.’s “BBB-” corporate credit rating, which is one notch above “junk” status, and its “A-3” commercial paper rating on review with negative implications. “The action reflected concerns about the challenging conditions in the automotive industry, including reduced vehicle production schedules, a difficult pricing environment and high raw material costs, and their likely impact on Delphi’s futures earnings and cash flow generation,” said S&P credit analyst Martin King. The auto parts maker’s stock was last trading down 15 cents, or 1.6 percent, at $9.02.
Collaborative Effort Results in First XML Industry Standard for Vendor Managed Inventory
DST and EDM, both solutions providers for the automotive and heavy duty parts industries, have jointly announced the successful integration of EDM’s Datalliance, the company’s Vendor Managed Inventory (VMI) service, with DST’s DSTWare business and warehouse management systems platforms. Utilizing XML transaction support in Datalliance, this project creates the first VMI industry standard. As a result, VMI capabilities are now available to all DST customers, as well as to other organizations utilizing XML to exchange data via the Internet.
Intermet Shares to be Delisted From Nasdaq
Intermet Corp. announced that the Nasdaq will cease trading of the company’s common stock effective with the opening of business on Tuesday, Oct. 12.