Two Keystone Automotive Industries Board Members Retire
Keystone Automotive Industries announced that board members Al Ronco and Ron Brown have informed the company of their decision not to stand for re-election at Keystone’s annual meeting to be held this month. The company said it has nominated James Robert Gerrity and newly appointed CEO Richard Keister to fill two of three board vacancies.
Study: More than Half of Global Brands Fail to Answer E-mails
According to a recent report from BtoB magazine, less than half of the top global brands respond to e-mail correspondence sent to their Web sites.
Herman Trend Alert: Innovation Talent Bank at Risk
America’s vital research and development is at risk; the country’s share of global degrees in the innovation fields (both baccalaureate and graduate) is declining. Long-term shifts are likely in the share of global talent in science, technology, engineering and mathematics.
Midas’ European Operations Gets New Owners
Midas has confirmed the pending sale of its licensed operations in Europe and Latin America. Currently owned by Magneti Marelli, a member of the Fiat Group, Marelli will sell the operations to France’s Norauto Group. Midas sold its interests in Europe and Brazil to Marelli in October 1998, when the companies entered into a long-term license agreement for which Midas received $100 million in cash and on-going royalties throughout the term of the license agreement.
Dura Automotive Founder Steps Down from Board
S.A. (Tony) Johnson has announced his retirement from the board of directors of Dura Automotive Systems, the company that he founded in 1990. Johnson said he is stepping down from Dura’s board in order to focus on other business interests. The move is effective immediately.
ArvinMeritor Reports Third Quarter Results
ArvinMeritor reported record sales of $2.4 billion and net income of $53 million, or 77 cents per diluted share, for the third quarter, which ended on June 30. These numbers compare to the prior fiscal year’s third quarter net income of $47 million, or 69 cents per diluted share. Sales increased $279 million, or 13 percent, from the prior year’s third quarter.
Tower Automotive Plant to Lose 67 Jobs
Tower Automotive said it will eliminate 67 jobs from its Bowling Green facility by moving production to a plant in Tennessee. The company will shift production of its suspension-link-arm business to Milan, Tenn., said Tower spokeswoman Bev Pierce.
Pronto Adds Another New Member, Fifth New Member This Year
Continuing in its strategy to aggressively grow membership, National Pronto Association has added its fifth new member this year. International Car Parts has become the newest shareholder of the programmed distribution group.
Register Now for University Forum at AAPEX
The University of the Aftermarket’s University Forum is your chance to tap into critical industry insights that add value to your company and increase your opportunities for career growth. University Forum, held on Sunday, Oct. 31, prior to the start of the annual AAPEX Show.
Removal of Judge Denied in Steeltex Suit
Los Angeles County Superior Court Judge Carolyn Kuhl has denied a motion by attorney Joseph Lisoni to disqualify Judge Christopher Sheldon from hearing further matters in his attempts to gain a national class action suit against Bridgestone/Firestone North American Tire (BFNAT).