Michelin North America and ACCC Sign Three-Year Contract Extension
Michelin North America has extended its partnership with American Car Care Centers (ACCC), signing a three-year contract extension to supply the independent dealer network with Michelin, BFGoodrich, Uniroyal and private and associate brand tires. This new agreement extends a strategic partnership between the two companies which began in 1993. ACCC is one of the largest networks of independent tire and automotive service dealers, with more than 1100 locations nationwide.
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.
Lear Probe Looks for Nepotism
Auto-interiors supplier Lear Corp. said Tuesday the Securities and Exchange Commission has opened an informal investigation into its employment of corporate officers’ relatives and insider business transactions. The Southfield, Mich., parts maker said the SEC might look at several years of SEC filings that outline familial connections within the company, which include more than a dozen workers and upper-level executives. The latest filing, the company’s 2003 proxy statement, reveals that CEO Robert Rossiter had at least seven relatives working for Lear or for a company associated with Lear in 2002.
Noble International Completes LWI Acquisition, Plans to Sell Monroe Engineering Subsidiary
Noble International has completed its acquisition of Clinton Township, Mich.-based Laser Welding International (LWI), a supplier of laser-welded blanks to General Motors. The acquisition which was first announced late last week, now includes the proposed sale of LWI’s subsidiary, Monroe Engineering Products. Noble paid $14.7 million for LWI, with an additional $1 million payable if certain new business is awarded to Noble within the next twelve months.
The Results Are In: Seventy Percent Say AAPEX is Worth the Cost
The results are in from the first edition of “AMN Asks” — the new weekly aftermarketNews.com poll. Last week, we asked whether you thought the annual AAPEX Show in Las Vegas offers “complete value” for the amount of time and resources you spend to attend. The annual Automotive Aftermarket Products Expo, which takes place in Las Vegas every fall, is the largest gathering of aftermarket products and people under one roof. It’s a chance to network, check out new products and attend informative seminars. It’s fast-paced and frenetic and can be a world of fun, however, on the flipside, it’s also an exhausting week of glad-handing and schmoozing in a very pricey town. Is it offering the best bang for your buck?
Starcraft Shareholders Approve Merger With Wheel to Wheel, Tecstar
Shareholders of aftermarket and OEM supplier Starcraft Corp. have voted to approve a proposed merger agreement with Troy, Mich.-based Wheel to Wheel, Inc., an automotive engineering and design business. The transaction has received all required regulatory clearance and the merger is expected to close by the middle of January. In 1988, Starcraft and Wheel to Wheel jointly formed Tecstar, which provides and installs appearance enhancement items on vehicles provided by and returned to an original equipment manufacturer. The new agreement calls for Starcraft to acquire the remaining 50 percent ownership of Tecstar LLC and Tecstar Canada that it does not currently own by acquiring closely held Wheel to Wheel. The transaction merges Wheel to Wheel into a newly created subsidiary of Starcraft, which will exchange Starcraft common shares for shares of Wheel to Wheel.
Federal-Mogul Appoints Jay Burkhart, Vice President, Global Marketing and Brand Strategy
Federal-Mogul has appointed Jay Burkhart to vice president, global marketing and brand strategy. In this new role, he will be responsible for marketing and brand strategy in aftermarket sales locations throughout the world. Prior to this promotion, Burkhart, who joined the company in 1998, was responsible for marketing in the North American aftermarket. He has been instrumental in helping the Federal-Mogul North American aftermarket organization achieve record performance in sales and numerous awards for marketing excellence, including most recently, the prestigious PACE Award for product innovation.
Dana and GETRAG Sign Joint-Venture Agreement with Volvo
A recently formed joint venture company between Dana and GETRAG has signed an agreement with Volvo Car Corp. (VCC) to purchase a 60-percent interest in VCC’s operations in Koping, Sweden. The resulting joint venture with VCC will be known as GETRAG All Wheel Drive AB, a Dana/GETRAG Co. The company will produce all-wheel-drive (AWD) and chassis systems and components for passenger cars and sport-utility vehicles.
Motor Industry Chiefs See More Mergers and Acquisitions Ahead, Especially in Asia
Automotive executives are losing their taste for strategic alliances and expect to see an increase in mergers and acquisitions in the industry over the next five years, particularly in Asia, according to the results of the fifth annual survey of the automotive industry by consultancy KPMG LLP. Consolidation was seen as occurring globally, but respondents in particular focused on Asia, where 73 percent said they expect an increase. Sixty percent pointed to an increase in Europe, while 50 percent of those polled saw stepped up M&A activity in North America.
Most Influential Women in Collision Repair for 2003 Honored
Akzo Nobel took time last month to honor five exceptional women from the collision repair industry. The five women were recognized as the 2003 Most Influential Women in the Collision Repair Industry, an award Akzo Nobel has been presenting for five years. The 2003 Most Influential Women are as follows: Bertha Bertrand, co-manager, Brian Cullen Body Shop, St. Catharines, Ontario; Teresa Bolton, collision repair/refinishing specialist, ASE, Leesburg, Va.; Georgina Carson, editor, BodyShop Business magazine, Akron, Ohio; Karen Fierst, president, KerenOr Consultants, Silver Spring, Md.; and Eileen Haberman, vice president and co-owner, Glen’s Auto Body, Waukesha, Wis.