Suppliers to Benchmark the Cost of Auto Industry Absenteeism
A dozen U.S. auto suppliers hope next month to finish a two-year effort to determine the cost of lost productivity due to absenteeism and “presenteeism” -people who are on the job but not functioning at appropriate productive levels. The group, dubbed the Automotive Supplier Action Committee, says it focused upon the industry’s hourly workforce, where absenteeism is roughly 10 percent, or about three times that of other industries.
Larry Samuelson Named President of U.S. Automotive Parts Group
Larry Prince, chairman and CEO of Genuine Parts Company (GPC), announced yesterday that Larry Samuelson has been named president of the U.S. Automotive Parts Group, effective immediately. The position was previously held by Bob McKenna, who departed in 2003. GPC CEO Tom Gallagher held the position in the interim. Samuelson is currently president and CEO of NAPA Canada/UAP Inc. He will continue to hold these responsibilities in addition to his new ones with the U.S. Automotive Parts Group.
UAP Announces Senior Executive Appointments
Larry Samuelson, CEO of UAP Inc., has announced four senior executive appointments. Robert Hattem has accepted the position of president and COO of UAP Inc. Terrence LeBlanc has been named executive vice president of the auto parts division. Pierre Vocelle has accepted the position of regional vice president of auto parts for Quebec and Scott LeProhon has been appointed senior vice president of special marketing projects.
Exide Closer to Exiting Chapter 11
Exide Technologies said it reached an agreement with its creditors and lenders on a plan to exit Chapter 11 protection, one that gives unsecured creditors 10 percent of the reorganized company. 11
Superchips Opens New Facility in Florida
Superchips Inc., manufacturers of Max MicroTuners, has opened a new facility in Sanford, Fla. The new 30,000-square-foot building houses Superchips’ corporate offices, manufacturing, research and development facilities.
Timken Announces Results for 2003
The Timken Co. has reported record sales of $3.8 billion for 2003, a 49 percent increase from the prior year. Excluding the impact of the February 2003 acquisition of The Torrington Co., sales grew approximately 8 percent, including 3 percent related to foreign currency translation, the company said.
International Speedway Reports Fourth Quarter And Year-End Results
International Speedway Corp. (ISC) has reported results for the fourth quarter and year, which ended on Nov. 30, 2003. Total revenue for the 2003 fourth quarter was $164.7 million, compared to $171.7 million in 2002. Operating income for the fourth quarter was $56.5 million compared to $65.3 million for the prior year. Net income was $31.6 million, or $0.60 per diluted share, compared to $37 million, or $0.70 per diluted share, in the fourth quarter of 2002.
Stylin’ Concepts Expands Call Center
Stylin’ Concepts, a direct marketer of parts and accessories for light trucks and SUVs, is expanding its call center, retail and administrative operations in Independence, Ohio. The company will move some of its warehouse operations to another location. Due to the need for more office and retail space, the company said it will move some of its distribution functions to a site outside the Independence area. The move will affect approximately 20 warehouse employees, most of whom will be absorbed into existing company operations in Independence.
Automakers Help Allies Handle Crises
Seeking to mitigate disaster costs after events such as 9/11 and last year’s blackout, Detroit automakers said Wednesday they’ll ask their suppliers and dealers to take part in a crisis management plan that will prepare them for emergencies. The automakers, working together through a trade organization called the Automotive Industry Action Group (AIAG), released a booklet that could serve as a guide for suppliers and dealers that either don’t have a contingency plan or want to modify an existing one. GM said that it will begin rolling out the process to all its 3,700 suppliers next week. The AIAG said the plan is voluntary for suppliers and will result in minimal costs for the companies.
Johnson Controls Delays Move
Plymouth Township, Mich., will retain its largest taxpayer for the time being. Johnson Controls officials recently announced they will not to move to Salem Township this year, but still expect to relocate their headquarters and technology facilities from Plymouth Township to a larger site when a suitable location is found.