Survey Says Suppliers Should Pay More Attention to Their Brands
Suppliers must do a better job of building and utilizing their brand names, according to new research by SupplierBusiness.com. Companies make a mistake when they submerge their identities or consolidate brand portfolios out of existence, say executives who were surveyed. By having a clear brand strategy they say suppliers can capitalize on their good name and good will. The cost of developing a brand strategy is low and the risk is small. A strong brand means a company is taken more seriously in the bidding process and can open doors when trying to win new business with an OEM it has no relationship with.
TRW Raises $676 Million in Public Offering
TRW Automotive Holdings Corp., which was bought by private equity firm Blackstone Group LP for about $4.7 billion last year, has raised $676 million in an initial public offering. The Livonia, Mich.-based company sold 24.14 million shares of stock at $28 a share. The company had predicted it would sell the stock at between $28 and $30 a share.
Modine Partners with Tennessee Department of Labor
Modine Manufacturing Co. has been selected as the first company to receive state funding for a new worker training program. The program, funded through the Tennessee Department of Labor & Workforce Development, has $1 million in funds available this year. Modine has been awarded a grant of $45,000. The company said it will invest an additional $34,000 in curriculum and training equipment for the project, which will include training on new technology for staff members and cross-training for the hourly workforce.
American Axle OKs Stock Buyback
Detroit-based American Axle & Manufacturing Holdings announced that its board approved a share repurchase program calling for the company to repurchase up to 2.5 million shares of its stock over the next two years.
IMR Founder Ken Brenneman Dies at 61
Kenneth Brenneman, Sr., founder and president of Industrial Marketing Research, an international automotive research firm, died Sunday, Dec. 28 of heart failure. He was 61-years-old. Brenneman founded Industrial Marketing Research in 1971 in Clarendon Hills, Ill., as a one-man operation. The firm quickly grew to become an international company that now serves the U.S., Europe and Asia.
Commemorative Issue of FOCUS Marks MEMA’s 100th Anniversary
MEMA is teaming with Babcox Publications to publish a special commemorative issue of its quarterly magazine, Focus, in June 2004 to mark the association’s 100th anniversary. This special edition will be a collector’s item, produced in “coffee-table” quality. The magazine will commemorate the past 100 years of contributions that suppliers and individuals have made to the original equipment, aftermarket and heavy duty industries, a historic timeline and many historic photos from MEMA and its member companies.
Dana’s Terry Shively to be Featured on the C.A.R. Show
Terry Shively, vice president marketing and public relations for the Dana Automotive Aftermarket Group, will be featured on the C.A.R. Show radio program on Saturday, Feb. 7. The broadcast will air between 9 – 11 a.m. EST. During the broadcast, Shively will discuss the importance of preventative vehicle maintenance and the role that the Dana Automotive Aftermarket Group has played in supporting the Car Care Council’s “Be Car Care Aware” campaign. He will also discuss the need for the industry to continue to come together to capture a share of the $62 billion in unperformed vehicle maintenance.
Delphi’s Rodney O’Neal Elected to Goodyear Board
Rodney O’Neal, president of Delphi Corp.’s dynamics, propulsion, thermal and interior sector, has been elected to Goodyear’s board of directors. O’Neal, a 33-year veteran of the auto industry, was elected a Delphi vice president and president of its interior systems business when the auto parts maker was incorporated in 1998. Delphi was spun off from General Motors Corp. in 1999. He was named executive vice president and president of Delphi’s Safety, Thermal and Architecture Sector in 2000.
ArvinMeritor Announces 2004 Suppliers of the Year
ArvinMeritor has announced the winners of the company’s annual supplier awards. The awards — which were presented Jan. 29, at ArvinMeritor’s North American Supplier Conference in Troy, Mich. — recognize outstanding performance in customer service, product quality, delivery and cost reduction.
Three More Speakers Added to Manufacturers’ Rep Conference
Three more manufacturers have agreed to participate on the Town Hall Panel taking place at the Manufacturers’ Rep Conference on May 16-17 in Chicago, Ill. Larry Easterlin of Technical Chemical Co., Mike Mayer of Master Lock Co.; and Charlie Walker from Gates Rubber/Stant will discuss pressing issues, along with Bill Lorenz from Siskel Sales Co. and Bob Knight from PSKB Inc.