Montana Products Names Regional Sales Manager
Automotive coatings manufacturer Montana Products has named Rick Paul regional sales manager, representing Virginia, Maryland and the Carolinas.
Bandag Reports Fourth Quarter Results
Bandag Inc. has reported consolidated net income of $29.1 million, or $1.50 per diluted share, for fourth quarter 2003, compared to consolidated net income of $17.5 million, or $0.91 per diluted share in the fourth quarter 2002. Net income for both the fourth quarter 2002 and 2003 included favorable tax adjustments of approximately $3 million, or $0.15 per diluted share, resulting primarily from the resolution of certain tax matters.
DST Unveils New Automated Email and Fax Options for its DSTWare Suite of Products
DST Inc. has launched new automated e-mailing and faxing options for users of its iSeries-based DSTWare suite of products. KeyesMail and KeyesFax were developed by Computer Keyes, a Woodway, Wa.-based software developer. Both KeyesMail and KeyesFax are full function automated packages for the iSeries systems.
Modine Expands Aftermarket Radiator Model Coverage
The aftermarket division of Modine Manufacturing has added more than 100 complete replacement radiators to its 2004 product line. The expanded radiator line, currently available, includes thousands of applications from domestic and import cars and light trucks. Modine’s aftermarket supplies replacement radiators both nationally and internationally, including distribution through major national accounts like NAPA, Pronto, Parts Plus, APA, independent automotive parts distributors, and more than 25,000 local repair outlets.
“DST Asks”: Adding Service/Installation as an Additional Profit Center in a Parts Enterprise
How many readers know that Starbucks, the ubiquitous coffee retailer, actually began operating as a coffee roaster in Seattle, selling bags of whole bean coffee in Pike Street Market? It took a visionary leader, Howard Schultz, coupled with an ambitious operating plan and enterprise management technology to morph the business into the worldwide coffeehouse chain and merchandising success story we see today. And this all happened in an incredibly short period of time…with growth from 17 outlets in 1987 to 7,225 outlets today. All of this was based on the simple premise, “We already have customers who buy our coffee beans — what if we brewed the coffee for them, too?” We see a similar opportunity in parts distribution.
Who’s Buying Whom?
Who owns the suppliers of today? New owners include leveraged buyout firms, putting a new spin on the old consolidation trend. In the wake of Dana’s announcement to sell off its aftermarket businesses comes the speculation of who will buy it. Water cooler conversations in the office haven’t exactly been at a fevered pitch. That’s a dramatic change from just a few short years ago when SPX was trying to make a hostile purchase of Echlin (which ultimately ended up in the hands of Dana), or when Federal-Mogul was buying up companies as part of former CEO Dick Snell’s major consolidation plan. Those were the good old days of major aftermarket acquisitions. Now, we’re left to ponder the fate of the Dana Automotive Aftermarket Group. The big question is: Who among the current base of manufacturers is a candidate to make such a large acquisition?
Executive Interview with Terry McCormack, President, Dana Automotive Aftermarket Group (AAG)
Our latest edition of “Executive Interview” features Terry McCormack, president of Dana Automotive Aftermarket Group (AAG). McCormack talked to aftermarketNews.com about the recent news that Dana will divest its aftermarket group. He shared details of the announcement as well as his insights on what this major change means for the company and the division.
Larry Samuelson Named President of U.S. Automotive Parts Group
Larry Prince, chairman and CEO of Genuine Parts Company (GPC), announced yesterday that Larry Samuelson has been named president of the U.S. Automotive Parts Group, effective immediately. The position was previously held by Bob McKenna, who departed in 2003. GPC CEO Tom Gallagher held the position in the interim. Samuelson is currently president and CEO of NAPA Canada/UAP Inc. He will continue to hold these responsibilities in addition to his new ones with the U.S. Automotive Parts Group.
UAP Announces Senior Executive Appointments
Larry Samuelson, CEO of UAP Inc., has announced four senior executive appointments. Robert Hattem has accepted the position of president and COO of UAP Inc. Terrence LeBlanc has been named executive vice president of the auto parts division. Pierre Vocelle has accepted the position of regional vice president of auto parts for Quebec and Scott LeProhon has been appointed senior vice president of special marketing projects.
Kayaba to Expand Global Manufacturing Operations
Next month, Kayaba Industry Co., Ltd. (KYB) will acquire a 75 percent shareholding in AP Amortiguadores SA (APA) currently held by ArvinMeritor. In the U.S., Kayaba is set to expand its manufacturing base at Franklin, Ind, to support growing sales of KYB shocks and struts to the North American aftermarket.