J.L. French Files Plan of Reorganization, Disclosure Statement
J.L. French Automotive Castings, Inc., a privately-held supplier of high pressure die-cast aluminum automotive components and assemblies, has filed its Plan of Reorganization and Disclosure Statement outlining how the company will satisfy claims in its Chapter 11 case and emerge successfully as a reorganized company. Founded in 1968, J.L. French Automotive Castings manufactures aluminum die-cast automotive parts including oil pans, engine front covers, engine blocks and transmission cases. The company employs more than 1,800 people in its ongoing operations worldwide.
AMN’s Top Ten Week: Top Ten News Stories
If nothing else has been made clear by the events taking place in the automotive industry over the past 12 months, this much is true: The automotive aftermarket is changing — in dramatic ways. Here, the editorial staffs of Counterman and aftermarketNews takes a month-by-month look at the key events that have shaped this industry’s destiny over the past year.
AMN Top Ten Week: The Top 10 Newsmakers of 2005
Now in its second year, aftermarketNews, together with its sister publication Counterman magazine, present the Top 10 Newsmakers list. While it is difficult to whittle down the number of influential leaders who are making an impact on this industry today, our editorial team has carefully compiled a list of individuals whom we believe to have left a distinct impression on the marketplace in 2005, and perhaps for years to come.
Methods for Financing Growth to be Discussed at the Financial Symposium
The most popular methods of raising growth capital will be discussed on Sept. 7, at the Aftermarket Financial Symposium: Leveraging for Growth in Chicago, IL. The Financing for Growth panel will be moderated by Rollie Olson, CEO, Parts Depot Inc. The session also includes a blue chip panel of experts from BB&T Capital Markets, Comerica, Bank of America Business
Stockman Quits Metaldyne Board
David Stockman resigned from the Metaldyne Corp. board last week, continuing his move away from Heartland Industrial Partners L.P. investments. Stockman was a founder of Heartland, a private-equity firm, and had run Collins & Aikman Corp. from August 2003 until he resigned shortly before the supplier filed for Chapter 11 bankruptcy on May 17. Later in May, Stockman stepped away from management at Heartland.
Herman Trend Alert: The Secondary Talent Problem
In our rapidly changing world, the most successful employers will be those who can find, recruit, engage, support and retain the needed top talent. Senior executives are competitively hunting for people who can think creatively, take initiative and eagerly accept accountability for results. The hunt is not going well.
Manufacturing Challenges, Competitive Pricing and Capturing the Service Repair Dollar: 2005 GAAS Looks at Critical Industry Issues
With a number of critical issues currently challenging the automotive aftermarket — SKU proliferation, OEM dealer expansion, raw materials, to name a few — there was no lack for topics of discussion at this year’s Global Automotive Aftermarket Symposium (GAAS).
Tire Rack Patriarchs Announce Retirement Plans
Tire and wheel wholesaler and mail-order/Internet retailer The Tire Rack will be going through a transition. Company founders and patriarchs, Peter and Wilma Veldman, have announced their intention to retire from day-to-day operations of the Tire Rack to focus more attention on their charitable interests, according to the South Bend, Ind., company.
Affinia Announces Sale of Beck/Arnley
Affinia Group Inc. yesterday announced the sale of its subsidiary, Beck/Arnley Worldparts Corp., to Heritage Equity Group, Inc. Heritage is a privately held company funded entirely by private investors, and in part by Beck/Arnley management.
Northrop Grumman Sells 7.3 Million TRW Automotive Shares in $142.6 Million Deal
Northrop Grumman Corp. is selling 7,256,500 shares of TRW Automotive Holdings Corp. for approximately $142.6 million, or $19.65 per share. The sale, which was expected to close Friday, March 11, will result in a first quarter 2005 after-tax gain of approximately $70 million, or 19 cents per share.