Campaign to Bring Back the “Midas Touch”
Midas wants to return to its core value of trust with the resurrection of a marketing campaign first used in Midas advertising in the 1980s. The company’s new national advertising agency DDB Chicago is collaborating with Ogilvy & Mather Toronto on the “Trust the Midas Touch” campaign. The campaign will include commercials that take place in a Midas shop and show a humorous dialog between a customer of Midas and a Midas service employee, who is hooked up to a polygraph machine. The commercials are the first in a long-term campaign to grow Midas’ category-leading shares in brakes and exhaust and to support the expansion of its services, including oil changes and other routine maintenance services.
Monro Names Valvoline Vendor of the Year
Valvoline has been named Vendor of the Year by the Monro Muffler Brake automotive service chain. Monro owns 600 stores in more than 18 states, operating under the Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires-Auto Service, Tread Quarters Discount Tires and Mr. Tire brands. Valvoline has been principal lubricants and filter supplier to the Rochester, N.Y.-based chain since late 2002.
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.
Exide Signs Exclusive Supply Agreement with TBC Corp.
Exide Technologies has signed an exclusive supply agreement with TBC Corp., one of the largest marketers of automotive replacement tires in the U.S. A significant new customer for Exide, the agreement with TBC includes the company’s recent acquisition of National Tire & Battery (NTB) from Sears, Roebuck and Co., which was completed in November 2003.
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.
Final Deadline for AASA Top Suppliers List — Friday, March 5
The final deadline to submit information for the 2004 Top Automotive Aftermarket Suppliers List is quickly approaching. Information for this free listing must be submitted by Friday, March 5. Published by Automotive Aftermarket Suppliers Association (AASA), the aftermarket segment of the Motor & Equipment Manufacturers Association (MEMA), and produced by Babcox Publications, this multi-page, full-color publication will be distributed with the May issue of Counterman magazine, which reaches more than 50,000 automotive aftermarket parts distribution professionals every month.
Registration Forms Now Available for MEMA Counterfeiting Seminar
As part of its continuing efforts to address the counterfeiting and intellectual property right violations problems — which costs the U.S. automotive industry nearly $3 billion and costs the global industry $12 billion each year — MEMA will present a one-day seminar — “Taking Action Against Automotive Parts Counterfeiting, Diversion and IPR Violations” — on Monday, April 5, at the Dearborn Hyatt, Dearborn, Mich.
Timken Transfers Some Logistics Operations to Joint Venture
Timken is transferring the balance of its Toronto, Ont., and Reno, Nev., warehousing operations to its joint venture CoLinx. CoLinx was formed as a joint venture between INA Holding Schaeffler KG, Rockwell Automation, The SKF Group and Timken. The company provides Web-based services and integrated logistics for premium-brand industrial manufacturers. Timken is transferring the balance of its Toronto, Ont., and Reno, Nev., warehousing operations to its joint venture CoLinx. CoLinx was formed as a joint venture between INA Holding Schaeffler KG, Rockwell Automation, The SKF Group and Timken. The company provides Web-based services and integrated logistics for premium-brand industrial manufacturers.
Shell Racing Solutions Announces Distribution Agreement
Shell Racing Solutions has signed an agreement with Performance Products LLC to distribute Shell Racing Fuels to the U.S. motorsports industry. Performance Products has 15 years of experience in the U.S. race fuels business. Performance Products has serviced professional race series such as Indy Racing League (IRL) and Championship Auto Racing Teams (CART) and will distribute Shell Racing Solutions race fuels to top tier, as well as grassroots and club racing circuits.
WIX Announces Two New In-Store Promotions
WIX Filters has launched two new promotions for collectors. An exclusive NASCAR Performance Product, WIX is launching the WIX #1 Fan Bobblehead Promotion designed to help spread the excitement of America’s fastest-growing sport to consumers. WIX is also unveiling the latest in its series of die-cast collectibles, celebrating the joint achievements of both Ford and WIX.