American Remanufacturers Files for Chapter 11
American Remanufacturers, Inc. filed for Chapter 11 protection from its creditors in bankruptcy court in Wilmington, DE, on Monday. In the filing, ARI listed assets of $10 million to $50 million and debts of more than $100 million. The filing includes ARI’s U.S. subsidiaries, but not its Canadian operation. The company has said it does not anticipate any interruption in customer service.
Ross Sets Sights on Delphi, Visteon
New York financier Wilbur L. Ross Jr. says parts of Delphi Corp. and Visteon Corp. could match up well with an auto supply company he’s attempting to build, but the timing isn’t right for making a deal.
New Full-Service Fleet Maintenance Facility Opens in PA
Fleet First, a new full-service fleet maintenance facility, has opened in Conshohocken, PA. The 8,000-square-foot facility services company-owned fleet vehicles including medium- and heavy-duty trucks. Conshohocken, which is outside Philadelphia, is central to all major highways in Pennsylvania, allowing Fleet First to service customers from Pennsylvania, New Jersey, Maryland and Delaware. The facility employs 11 full-time and three part-time staff.
Hastings Manufacturing Files for Bankruptcy Protection, Announces Sale of the Company
After 90 years in the automotive business, Hastings Manufacturing Co. has filed for Chapter 11 bankruptcy protection and accepted an offer to sell the assets of the company to The Anderson Group, Inc. The Hastings, MI-based automotive supplier said it filed the Chapter 11 petition on Wednesday in the U.S. Bankruptcy Court for the Western District of Michigan. Hastings Manufacturing has received an offer from The Anderson Group, Inc., a Bloomfield Hills, MI-based holding company that owns and operates various manufacturing companies, to purchase the company’s assets.
NASCAR Driver’s Rev Up Online Engines
Jeff Gordon, Tony Stewart, Kasey Kahne and Kevin Harvick are heating up more than their race car engines this week. After only six days of an online auction to help raise money for the drivers’ charities and foundations, more than $32,000 has been raised and Gordon’s bids account for 47 percent of the total number for all four drivers.
Charity Chopper Proceeds to Benefit Cancer Patients and Hurricane Relief Efforts
Proceeds of the upcoming “Charity Chopper” auction on eBay Motors will now be focused on The Leukemia & Lymphoma Society’s efforts to address the urgent needs of blood cancer patients in areas affected by Hurricane Katrina, according to sponsors of the charity fundraiser.
Two Auto Parts Plants to Close
Auto parts supplier Crotty Corp. plans to close its operations in Quincy,MI, leading to about 246 permanent layoffs, while Lear Corp. plans to close a plant in Marshall,MI, eliminating about 130 jobs.
GoMotorBids.com Chooses Public Relations Firm
Auction site GoMotorBids.com has named Media Management Marketing (MMM) as their PR firm of record.
I-CAR Announces 2005-2006 International Board of Directors
I-CAR announced its 2005 – 2006 International Board of Directors and Executive Committee at the 2005 I-CAR International Annual Meeting in Scottsdale, AZ.
Joseph “Corky” Coker Recieves “Wally” Lifetime Achievement Award
Specialty Equipment Market Association (SEMA) chairman and Coker Tire Company president Joseph “Corky” Coker was honored with a “Wally” Lifetime Achievement Award at the 3rd annual Holley NHRA Hot Rod Reunion’s public reception.