Replacement Parts To Acquire Louisiana Chain
Aftermarket Auto Parts Alliance/Bumper to Bumper member Replacement Parts,Inc., which operates 134 stores and four distribution centers, has entered into an asset purchase agreement with Dimmick Supply Inc. The agreement will transfer all of Dimmick’s 10 stores and its single DC to Replacement Parts as of March 29. Dimmick Supply is also a Bumper-to-Bumper member, and its stores will continue to operate as such. The Dimmick stores are located in or adjoining existing Replacement Parts territories in southwest Louisiana and will be served out of the Monroe DC.
DST Asks: Can Your Business Measure Return on Customer Investment?
Although most businesses have the means for measuring their Return On Investment, DST has coined the term Return on Customer Investment as a more accurate method of determining profitability of the customer base. Many firms believe that their largest customers, or the ones they have been supplying for the longest time, are the most profitable ones, but access to pertinent data can contradict those assumptions.
Federal-Mogul Changes its Plan, Shareholders to Be Offered New Stock
Federal-Mogul Corp. has amended its plan for emerging from bankruptcy to guarantee current shareholders the right to buy new shares in the reorganized auto supplier at a predetermined price. Under both the former and amended plans, current shares would be voided once the company exits bankruptcy and new shares would be issued. In an unrelated matter, Federal-Mogul announced Friday that a fire had extensively damaged its Smithfield, Tenn., distribution facility. All employees were evacuated safely. The company is working on a plan to resume operations elsewhere late this week. The center employed 225.
BWD Automotive Announces Vehicle Service Professional Rewards Program
BWD Automotive has launched a new Vehicle Service Professional (VSP) Rewards program, designed to foster, preserve and enhance the relationship among automotive repair technicians, distribution customers and BWD Automotive. The goal of VSP Rewards is to provide today’s professional automotive technician with up-to-date educational and reference tools required by an increasingly complex automotive repair industry.
Delphi Debuts New Ad Campaign; Aims to Bring Automotive Technology to Other Markets
Delphi has debuted a new television ad campaign aimed at showing how the company is taking automotive technology to other markets. The new campaign, created by McCann Erickson’s Detroit office, depicts how Delphi technologies can be used to benefit other industries outside the automotive arena, including medical, homeland security and computers.
Dale Hobbs Named Director of Sales at Parts Plus
Dale Hobbs has been named director of sales at Parts Plus. Mike Lambert, president of Parts Plus, announced the appointment. Dale Hobbs has been named director of sales at Parts Plus. Mike Lambert, president of Parts Plus, announced the appointment.
Hankook Tire Boosts Sales in 2003
Hankook Tire America Corp. has reported one of its strongest 12-month sales periods in the company’s history. Increased supply from overseas and major OE contracts played pivotal roles in boosting 2003 sales, according to Bill Bainbridge, marketing director for Hankook.
Terry Shively Named Vice President and General Manager of Clevite Engine Parts Division
Terry Shively has been named vice president and general manager of Dana’s Engine and Fluid Management Group’s Clevite Engine Parts Division. Terry McCormack, president of the Dana Automotive Aftermarket Group (AAG) made the announcement.
Parts Distributor Leverages Technology to Achieve Growth Profitability
Georgia parts distributor, Powertrain Inc. of Savannah, has reported a 25 percent growth in the company’s billed labor time since it began using DST Inc.’s DSTWare Service module to manage both its parts distribution and service business. With 33 percent of its business mix consisting of service, the Durrence’s have said they attribute this growth to the software’s ease of use.
Restructuring Charges Drive Midas to a Net Loss of $76.2 Million in 2003
Midas reported a net loss of $76.2 million — or $4.93 per diluted share — for fiscal 2003, which ended Jan. 3. Midas said the loss is primarily the result $102.6 million in charges related to its restructuring, completed in April. As part of the restructuring, Midas exited its wholesale distribution business and refocused its resources on retail franchising and real estate businesses.