Timken Transfers Some Logistics Operations to Joint Venture
Timken is transferring the balance of its Toronto, Ont., and Reno, Nev., warehousing operations to its joint venture CoLinx. CoLinx was formed as a joint venture between INA Holding Schaeffler KG, Rockwell Automation, The SKF Group and Timken. The company provides Web-based services and integrated logistics for premium-brand industrial manufacturers. Timken is transferring the balance of its Toronto, Ont., and Reno, Nev., warehousing operations to its joint venture CoLinx. CoLinx was formed as a joint venture between INA Holding Schaeffler KG, Rockwell Automation, The SKF Group and Timken. The company provides Web-based services and integrated logistics for premium-brand industrial manufacturers.
Goudy Named Vice President PPG Automotive Aftermarket
Garry Goudy has been appointed vice president of PPG Industries’ automotive aftermarket, comprising automotive refinish coatings, automotive replacement glass and insurance and services. While continuing to lead PPG’s refinish coatings business, in this new role Goudy will assume broader responsibility for all of PPG’s automotive aftermarket business initiatives.
Modine Gets Long Term International Contract
Modine Manufacturing has been awarded a major contract with International Truck and Engine Corp., providing all its power train cooling systems starting in 2007.
Early Bird Registration Discount Extended For GAAS
There is still time to hear the aftermarket’s leading experts discuss how the industry can work “Leaner, Faster, Better,” at the ninth annual Global Automotive Aftermarket Symposium (GAAS) program – set for Tuesday and Wednesday, May 18-19, at the Hyatt Regency, Chicago, Ill. – at a substantial savings.
Bridgestone Profit Jumps
Tiremaker Bridgestone Corp. said its profit nearly doubled in 2003 as sales rose in Europe and payments related to a massive U.S. tire recall three years ago declined. But the tire company forecast lower profits for this year, citing higher rubber prices and increasing marketing expenses in Japan in the face of weak demand.
Brake Parts Inc. Names Andersen Director of CRM
Brake Parts Inc. has promoted Nancy Andersen to the newly created position of director of customer relationship management for the under vehicle group. A 25 year veteran of the aftermarket, Andersen has experience in export, customer service, accounting, direct sales and administration in all market segments.
Akebono Expands Aftermarket Friction Lineup
Akebono will launch the Akebono Premium Disc Brake Pads friction line next month. The line will feature 116 part numbers, covering a wide range of both late-model import and popular domestic vehicles.
AAIA Executives Make Presentation to Wall Street Investors
Kathleen Schmatz, AAIA president and CEO, and Al Gaspar, president emeritus, addressed a group of 30 Wall Street investors at a luncheon meeting at the Yale Club in New York City last week. The latest statistics and trends on the size, shape and structure of the aftermarket were addressed, as well as profiles of AAIA’s market-growing initiatives: Product Information Exchange Standard (PIES), category management, Right to Repair Act and the “Be Car Care Aware” campaign.
Alcoa Returns Unit to Former CEO
Alcoa Inc. has finally found a buyer for its automotive fasteners business, agreeing to sell the unit more than a year after putting it on the block. The Pittsburgh-based company said it would sell the business to a group led by Robert Kaminski for an undisclosed price. Kaminski is the former CEO and owner of Continental/Midland, one of the fastener maker’s predecessor companies. Terms of the deal were not disclosed.
Goodyear Completes $650 Million Loan
Goodyear Tire & Rubber has completed a new $650 million secured term loan that was arranged by JPMorgan and Citigroup. The company said it intends to use approximately $335 million of the proceeds of the loan to partially repay its existing $583 million U.S. term loan. Proceeds will also be used to repay other indebtedness and for general corporate purposes.