Activant Solutions to Buy Speedware Corp.
Activant Solutions has entered into an agreement to acquire Canadian enterprise software provider Speedware Corp. The acquisition would include Speedware’s operating divisions Enterprise Computer Systems (ECS) Inc., Prelude Systems Inc., OpenERP Solutions and Speedware Ltd. When completed, the acquisition will expand Activant’s customer base to more than 20,000 locations. Activant has identified four segments it plans to grow with this acquisition, including lumber and building materials (LBM), automotive aftermarket, wholesale trade and hardware and home center retailing. By incorporating the Speedware product line, Activant bolsters its offerings in these segments.
Venture’s Bankruptcy Plan Out; Auction Likely
The murky future of troubled auto supplier Venture Industries got murkier as a bankruptcy judge denied the company’s plan to exit bankruptcy after nearly two years. Most likely the Fraser, Mich.-based company — which makes plastic parts such as bumpers and instrument panels for the auto industry — is headed for the auction block with it being sold off all at once, or piece by piece. Venture is one of the world’s largest auto-plastics suppliers and at its peak employed about 13,000 worldwide, including about 2,000 in metro Detroit.
TriMas Appoints Three New Board Members
TriMas Corp. — a company comprised of high-end, specialty niche manufacturing businesses — has named three new board directors.Marshall Cohen, Arthur Huge and Eugene Miller have been named to the company’s board of directors, effective with the start of the company’s 2005 fiscal year in January.
SKF Automotive Division Sponsors the Car Care Council Women’s Board
SKF’s Automotive Division has committed to sponsoring the Car Care Council’s Women’s Board activities for 2005. SKF has committed to Gold level sponsorship. SKF was founded in 1907, and is headquartered in Gothenburg, Sweden. SKF is a worldwide supplier of radial shaft seals, precision-engineered elastomeric products and value-added subassemblies to a variety of industries, including the automotive, aerospace, heavy-duty/off-highway, industrial and marine markets. The company has technology centers in the Netherlands, Italy and the United States.
The Year in Review – A Look at the Top 10 News Stories of 2004
Whether you believe 2004 was a good or bad year for the aftermarket, no one can argue this was a big news year for our industry. The year included noteworthy shifts in leadership, mergers, acquisitions and more, most of which will significantly impact the industry for many years to come. Here’s a month-by-month look at what aftermarketNews.com considers to be biggest news events that happened in our industry in 2004.
UPS Helps Students Pursue Automotive Careers with Racing Scholarships
As part of the company’s continued commitment to promote diversity in NASCAR, express delivery company UPS is awarding five students with its UPS Racing Technical Edge Scholarship. To date, UPS has provided more than $230,000 in scholarship funds to minority students pursuing careers in racing and automotive technology.
Executive Interview with Frank Pagano, CEO of Coni-Seal
Our latest Executive Interview features Frank Pagano, CEO of Lakewood, NJ-based Coni-Seal, Inc. Recently, as part of an investment group, Pagano acquired the assets two aftermarket businesses including Qualitee International. Pagano recently took some time to give aftermarketNews.com a breakdown of these new businesses and where they are headed.
SAE Plans Centennial Celebrations
The Society of Automotive Engineers (SAE ) plans to hold special celebrations at several of its conferences and expositions in 2005 to celebrate its 100 year anniversary. SAE has been serving the mobility engineering community since 1905. From a black tie gala and special section functions to PR events and centennial series editions of its magazines, there will be ample opportunities for joining SAE in toasting its first century.
Metal-Stamping Plants that Supply Auto Parts Face Bleak Future, Experts Warn
Up to half of the U.S. metal stamping plants that supply parts for the automobile industry could be out of business in six years, an industry attorney and trade group warned Thursday.
MACS 25th Anniversary Convention Gets Support from Record Number of Sponsors
“NOW IS THE TIME!” — the 25th Anniversary Convention and Trade Show of the Mobile Air Conditioning Society (MACS) Worldwide is getting support from a record number of corporate sponsors. Forty sponsors have signed up for the show, which will take place February 1-3, 2005 at the Las Vegas Hilton.