Continental AG and Siemens VDO Automotive AG Join Together to Form Automotive Supplier at Forefront of Global Market
With the biggest acquisition in its 136-year history, Continental AG, Hanover, is investing itself with what it calls excellent prospects for the future in a global market that, while demanding, is equally rich in opportunities.Continental is buying the Siemens VDO Automotive AG from Siemens AG, Berlin/Munich, for $15.6 billion. Today, the supervisory boards of Siemens AG and of Continental AG, in Munich and Hanover respectively, gave their consent for the transaction. Execution of the acquisition is contingent on the approval of the appropriate antitrust authorities. As per 2006, Continental and Siemens VDO Automotive AG realize aggregate annual sales of around $34 billion with a worldwide workforce of close to 140,000.
Networkcar Appoints Keith Schneider as President
SAN DIEGO, CA — Networkcar, a wireless vehicle management provider, has appointed Keith Schneider to the position of president, effective April 9. Schneider most recently served as vice president of indirect distribution for Sprint Nextel Communications. While at Nextel, Schneider was responsible for the strategic direction and implementation of key programs and policies supporting Nextel’s
A Recap of the Heavy Duty Dialogue ’07 Business Conference
Heavy Duty Dialogue ’07, held Jan. 22 in Las Vegas at The Mirage, focused on the global commercial vehicle business and the forces that will shape the industry’s future. Organizers for the annual event said HD Dialogue continues to be a success, drawing more than 350 attendees and featuring panels and presentations by many industry leaders and top experts in the heavy duty commercial vehicle industry.
SAE International Elects New Board Members for 2007
Seven mobility professionals have been elected to the SAE International Board of Directors. The newly-elected directors take office at the Jan. 26 Board of Director’s meeting. SAE International, formerly known as the Society of Automotive Engineers, is a global aerospace, automotive and commercial-vehicle engineering society with more than 90,000 members in 100 nations. The society’s name was legally changed in 2006 to reflect member involvement from all aspects of the mobility industries.
Timken President Elected New SAE International VP of Automotive
Jacqueline "Jacqui" Dedo is the new vice president of Automotive for SAE International. The elected position is a three-year term and Dedo will be replacing Richard Schaum, who will serve as the 2007 SAE International President.
The Top 10 News Stories of 2006
For the third year in a row, the editorial staffs of aftermarketNews and Counterman magazine take a look at the events that have had the most impact on the automotive aftermarket in the past year.
U.S. Medium & Heavy Truck Aftermarket to Exceed $12 Billion in 2010
The U.S. aftermarket for medium- and heavy-duty (MD/HD) truck components and parts is projected to increase at an annual rate of 3.9 percent, exceeding $12 billion in 2010. Some segments of the market such as electronics and emissions controls are expected to experience even faster growth, according to Cleveland-based market research firm The Freedonia Group.
Zonar Names Griffus Director of Sales
Zonar Systems, a provider of integrated fleet telematics products, has announced that Mike Griffus, a nationally respected expert on student transportation and commercial trucking, has joined the company as director of sales. Griffus will lead the national and international sales team from Zonar’s office in Pleasanton, CA.
U.S. Medium- and Heavy-Duty Truck Aftermarket to Exceed $12 Billion in 2010
A new study from The Freedonia Group shows that the U.S. aftermarket for medium- and heavy-duty (MD/HD) truck components and parts is projected to increase at an annual rate of 3.9 percent, exceeding $12 billion in 2010. Some segments of the market such as electronics and emissions controls are expected to experience faster growth.
Find Out Who’s Winning the eBusiness Race at Aftermarket eForum
Steven Liao, president of MechanicNet, is on a mission to help the automotive aftermarket use customer relationship management (CRM) technologies, data and insights to enhance fundamental industry economics. Liao, who will address “Aftermarket Service eBusiness – Who’s Winning the eBusiness Race,” is one of the featured speakers during the 2006 Aftermarket eForum, July 17-19, at the Hyatt Regency O’Hare in Chicago.