BP Lubricants USA Offers Castrol Tection Extra to Retailers
BP Lubricants USA announced this week it will begin offering Castrol Tection Extra, a 15W-40 diesel engine oil, in the retail, mass, truck stop and auto parts channels. The oil will be available at a number of retail locations, including: AutoZone, Advance Auto Parts, CSK, Pep Boys, O’Reilly, Strauss, Love’s Truck Stops and Wal-Mart.
International Auto Components Buys Collins & Aikman Europe
International Auto Components Group (IAC), the joint venture company recently formed by WL Ross & Co. LLC, Franklin Mutual Advisers LLC, and Lear Corp., has signed a definitive agreement to acquire from Collins & Aikman Europe (C&A) its $600 million operations in Austria, Belgium, Czech Republic, Germany, Netherlands, Slovakia, Spain, Sweden and the United Kingdom. These operations serve Ford, General Motors, DaimlerChrysler, Porsche, Saab, Volkswagen, Volvo and other original equipment manufacturers.
ArvinMeritor Reports Fourth-Quarter Results
ArvinMeritor reported a 6 percent increase in sales for the fourth quarter of 2005 and a decrease in its net income losses. The company reported a $19 million net income loss in the fourth quarter compared to the $153 million loss during the same period last year.
Tenneco Automotive CEO Optimistic About New OE Business
Mark P. Frissora, chairman, CEO and president, Tenneco Automotive said the company is winning new OE business with its advanced suspension and emission control technologies. Its products are featured on more than 30 vehicle model premieres at the 2005 Frankfurt Auto Show (IAA).
California International Auto Show Kicks off 2006 North American Auto Show Season
Southern California’s premiere auto show, the California International Auto Show (CIAS), announced today a series of new vehicle launches and the all-new Auto Show Underground that will highlight the hot automotive customizing market, celebrity and exotic cars, hybrids, classics, and the latest automotive accessories. Coming off a highly successful 2005 auto show season, this year’s CIAS is poised for tremendous growth with an exciting auto show schedule planned for manufacturers, media and consumers alike.
TRW Automotive to Acquire Majority Stake in Dalphimetal; Transaction Will Strengthen TRW’s Passive Safety Business
TRW Automotive Holdings Corp. announced recently that the company has entered into a definitive agreement with the founding members of Dalphi Metal Espana, S.A. (Dalphimetal) to purchase a 68.4 percent stake in Dalphimetal for approximately $137 million, plus the assumption of debt totaling approximately $103 million.
ArvinMeritor Reports Fiscal Year 2005 Third-Quarter Results
ArvinMeritor, Inc. reported financial results for its third fiscal quarter ended June 30, 2005. The company posted sales of $2.4 billion, up 15 percent from the same period last year. The Commercial Vehicle Systems (CVS) division posted sales of $1.1 billion, up $256 million, or 30 percent, from last year’s third quarter, with an operating margin of 6.4 percent, up from 5.7 percent in the third quarter of the prior year.
Victor H. Doolan Joins Sonic Automotive, Inc. Board of Directors
Sonic Automotive, Inc. announced that veteran auto industry leader, Victor H. Doolan, has been appointed to the company’s Board of Directors.
Car Makers Cut Free Maintenance
In an effort to trim costs, car makers are eliminating their free-maintenance programs — a move that could cost drivers thousands of dollars in additional upkeep over the life of a vehicle. Now, however, a growing number of manufacturers — including some of the same brands that kicked off the free-maintenance movement more than a decade ago — are requiring new customers to pay for maintenance services like oil changes, tire rotations and other routine tasks that used to be free.
Monroe, Walker Expand Import Ride Control and Exhaust Coverage
Tenneco Automotive announced a significant expansion of premium application-tuned Monroe replacement shock absorbers and struts for foreign-nameplate passenger cars, light trucks, minivans and SUVs, during an import technology briefing in June at its Monroe, MI, headquarters.