Coyle Named to Fuel Systems Job at TI Automotive
Patrick Coyle has been named North American regional director for TI Automotive’s Global Fuel Systems Division. Previously, Coyle was responsible for global fuel-system quality. TI Automotive is a tier one supplier of integrated fuel-storage and delivery 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.
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.
Prestolite Electric Sells UK Facility
Prestolite Electric Holding, has sold the Acton (London, England) manufacturing facility of Prestolite Electric Limited, the company’s UK subsidiary. Prestolite sold the subsidiary to Lemon Land Limited for approximately $47 million. The Acton facility had a book value of $9 million. In connection with the purchase, Prestolite retained the right to occupy the facility through the end of 2004.
Superchips Opens New Facility in Florida
Superchips Inc., manufacturers of Max MicroTuners, has opened a new facility in Sanford, Fla. The new 30,000-square-foot building houses Superchips’ corporate offices, manufacturing, research and development facilities.
More Details on the Future of Honeywell’s Friction Materials Business
Yesterday, Honeywell announced that it had terminated discussions with Federal Mogul regarding the possible sale of its friction materials business, which manufactures and markets the well-known aftermarket brand Bendix. After several months of negotiations, the parties were unable to agree on terms of a deal. Now Honeywell has reported that the friction materials division will remain part of Honeywell and will become closely aligned with the company’s business initiatives and operating plan. According to Joe Puishys, president of Honeywell friction materials, the company is in the process of making investments in both the aftermarket and OE segments of the business.
“AMN Perspectives by Thomas Group: Experience at Work”
Welcome to the first installment of “AMN Perspectives by Thomas Group: Experience at Work.” What does “Experience at Work” mean? It means proven methods and techniques applied by seasoned executives resulting in measurable financial improvement. “Work” means that Thomas Group consultants are working implementers. We get into the client’s business and go to work side by side with the management and employees until objectives are accomplished, rather than preparing a plan and leaving it to the company to make it happen. Through “AMN Perspectives: Experience at Work,” Thomas Group consultants will comment on issues and news within the automotive aftermarket to provide constructive suggestions that work based on our experience in the automotive industry and more than 20 other industries and government agencies.
Greg Potter Named 2004 ETI President
Greg Potter of Chief Automotive Systems has been elected 2004 president of the Equipment and Tool Institute (ETI).
OE Suppliers May Drop By 50 Percent: Group Predicts Half Will Go Under by 2010
The auto industry is on track to lose half of its parts suppliers by 2010 because of escalating pressure to reduce component prices. That prediction from the Original Equipment Suppliers Association (OESA), a trade group that represents suppliers, comes in response to a new survey that found automakers are demanding more and steeper price cuts from parts makers.