Keystone Automotive Eyes Katrina Losses
Keystone Automotive Industries Inc., a distributor of unbranded automotive parts, said Monday it expects damage related to Hurricane Katrina to reduce second-quarter sales by about $1 million.
Hastings Manufacturing Files for Bankruptcy Protection, Announces Sale of the Company
After 90 years in the automotive business, Hastings Manufacturing Co. has filed for Chapter 11 bankruptcy protection and accepted an offer to sell the assets of the company to The Anderson Group, Inc. The Hastings, MI-based automotive supplier said it filed the Chapter 11 petition on Wednesday in the U.S. Bankruptcy Court for the Western District of Michigan. Hastings Manufacturing has received an offer from The Anderson Group, Inc., a Bloomfield Hills, MI-based holding company that owns and operates various manufacturing companies, to purchase the company’s assets.
NAPA Kicks Off ”Auto Care Package” College Promotion
As summer winds down and young adults prepare to head back to college, NAPA Auto Parts recommends that parents assemble an “Auto Care Package” to send with their students. Planning ahead will help keep the car operational and may prevent breakdowns that could leave students stranded along the roadside.
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.
Key Plastics Forms Joint Venture in China
Key Plastics L.L.C. has formed a new joint venture with Jiehua Automotive Trim Development Center in Shanghai. Located West of Shanghai, the new partnership is called Shanghai Key Automotive Plastic Component Company, Ltd. According to B. Edward Ewing, chairman and CEO of Key Plastics L.L.C., the joint venture currently produces $18 million in annual revenue, which is expected to grow to $50 million in 2009.
Venture Tape Opens Certified Training Center for Installers
Venture Tape Corp., a global manufacturer of specialty tapes, has opened a new, interactive training center for installers of its automotive paint protection system, Venture Shield. Housed at the company’s Rockland, Mass., headquarters, the facility will provide professional aftermarket installers with intensive, hands-on training that follows recommended Venture Shield application techniques. At the completion of the three-day training program, attendees will receive certification authorizing them to apply Venture Shield to their customers’ cars and trucks.
Venture has New Team of Executives
Auto-plastics supplier Venture Corp. has begun its path toward exiting bankruptcy after 26 months. The banks and investment firms to which the struggling supplier owed money have taken control of it and put in a new management team.
SKF to Sponsor Dave Blaney, No. 07 Chevy at Martinsville
SKF, a global supplier of bearing and elastomeric products, will be primary sponsor for NASCAR NEXTEL Cup Series driver Dave Blaney and Richard Childress Racing’s (RCR) No. 07 Chevrolet in the April 10 Advance Auto Parts 500 at Martinsville (Va.) Speedway. The SKF colors will be displayed on the racecar’s hood, right and left rear quarter panels and on the rear bumper.
Executive Interview with Guy Bargnes, Director of Marketing, North American Operations for BASF Corp. Refinish Group
Guy Bargnes has spent his entire life in the collision repair industry. He was born and raised in Buffalo, NY, where his father ran a family business, V. H. Bargnes Co., Inc., which distributed automotive paints, supplies and equipment to area collision shops. In 1992 Bargnes joined BASF full-time, and he is now director of marketing, North American Operations, for the Refinish Group. Bargnes recently sat down to a phone interview with aftermarketNews and shared with us some of the insights from his lifelong career in the industry. Join us as Bargnes talks about BASF’s four leading principles, trends in the refinish business and the return of paint companies to industry trade shows.
Car Nuts at Consumer Reports Produce Influential Reviews
Likely you’re familiar with Consumer Reports magazine and its reputation for scrupulous testing of vacuum cleaners, contraceptives, cordless drills, tuna, spray paint and, of course, automobiles. Its April “annual auto issue,” released in March, is must reading not only for car buyers but for car executives. It would be overestimating the reach of Consumer Reports to say it can make or break a vehicle, but not by much. With a circulation of more than 4 million — roughly triple the world’s largest automotive publication — the magazine’s effect is enormous.