Universal Automotive Appoints Two New Managers
Universal Automotive Industries has appointed Larry Newman and Arnold Slutsky to managerial positions at the company’s Autospecialty division. Newman joins Autospecialty’s Undercar Products Group as sales team program group manager. Slutsky has been named purchasing manager at Autospecialty’s Supply Chain division, based in Alsip, Ill.
New Aftermarket Foundation Video to be Shown at AAPEX Town Hall Meeting
In an effort to increase industry awareness of the philanthropic organization, the Aftermarket Foundation has developed a new marketing video, along with a redesigned Web site and brochure. The approximately seven-minute video, shot by former NASCAR Performance producer Joe DePaulis, will be unveiled at the Town Hall meeting, which takes place this fall during the 2004 AAPEX Show.
Former RMA VP Joins MEMA
On June 1, Ann Wilson, formerly of the Rubber Manufacturers Association (RMA) in Washington, D.C., will join the staff at the Motor & Equipment Manufacturers Association (MEMA). Previously, Wilson served as the vice president of government affairs at RMA. She will serve in the same role with MEMA.
A&A Midwest/Enginequest to Partner with Australia’s Toowoomba Metal
A&A Midwest/Enginequest, a parts dealer that buys, processes and sells drive train components for the automotive remanufacturing and recycling industries, has entered into a long-term exclusive trade agreement with CMI Operations Pty Ltd., trading as Toowoomba Metal Technologies. Toowoomba Metal Technologies is the largest independent foundry and machining facility operating in Australia, and the original manufacturer of the Lighting Performance Cylinder Head product.
Key Safety Systems Forms Shanghai Joint Venture
Key Safety Systems has formed a new joint venture with Yanfeng Visteon Automotive Trim Systems, based in Shanghai, China. With 2004 revenues expected to exceed $1 billion, Yanfeng Visteon is the largest interior trim manufacturer in China, and one of the largest producers of steering wheels.
Tower Earnings Up
Tower Automotive Inc. earned $12 million, or 21 cents per share, on revenue of $781.2 million in the first quarter. The Novi maker of stamped automobile parts earned $11.57 million, or 21 cents per share, on revenue of $732.57 million in the same period of 2003.
Transpro Reports First Quarter Results
Transpro has announced first quarter net sales of $61.2 million, an increase of 16.1 percent over net sales of $52.7 million in the first quarter of 2003. he company reported a net loss of $0.4 million, or $0.06 per diluted share for the first quarter, a significant improvement over a net loss in the year ago period of $4.3 million, or $0.61 per diluted share.
Tower Automotive Reports First Quarter 2004 Results
Tower Automotive has announced its financial results for the first quarter of 2004 and updated 2004 earnings guidance. Tower Automotive announced first quarter revenues of $781 million, compared to $733 million in the first quarter of 2003. The company reported net income of $12 million, or $0.21 per diluted share, for the quarter versus net income for the first quarter of 2003 of $11.6 million, or $0.21 per diluted share.
The End of the Line for the Olds
Today marks the end of the road for Oldsmobile, a line of cars which has been around since 1897. General Motors announced in 2000 that it would discontinue the Oldsmobile, which was the oldest automotive brand name in U.S. history.
ASA’s Bill Haas Featured on Fox News Program
Bill Haas, the Automotive Service Association’s (ASA) vice president of service repair markets, was featured on an interview that aired on the Fox News Channel yesterday. The interview took place at the cable station’s affiliate in Dallas, where Haas discussed the OEMs progress in providing repair information to independent automotive repair facilities.