Myers Industries Reports Fourth Quarter and Fiscal Year 2003 Results
Myers Industries announced net sales of $176,507,020 for the fourth quarter of 2003, the highest of any quarter in the company’s history. This is an increase of 11 percent from $159,331,205 reported in 2002. Net income was $4,350,446, an increase of 8 percent from $4,044,157 for the fourth quarter of 2002. Net income per share was 14 cents, an increase of 8 percent from 13 cents earned in the fourth quarter of 2002. Favorable foreign currency translation accounted for $7.4 million of the sales increase but did not have a material impact on net income for the quarter.
Executive Interview with Jim Taylor, CEO of Thomas Group
Our latest edition of “Executive Interview” features Jim Taylor, CEO of the Thomas Group. Taylor joined the Thomas Group in 2001 as vice president and CFO. From 1997 to 2001, Taylor served as president of the Chancellor Group, a Dallas, Texas, management consulting firm, where he assisted companies in restructuring, raising funds and completing initial public offerings. Join us as Taylor tells us more about the Thomas Group culture and how it works for its clients.
Congressional Support for Right to Repair Act Growing
Momentum is building on Capitol Hill for the Motor Vehicle Owners’ Right to Repair Act. A total of 80 Congressman have signed on as sponsors to HR 2735, according to AAIA. Among the growing number of sponsors lining up behind sponsors Reps. Joe Barton (R-Texas), and Edolphus Towns (D-NY), are 13 members of The House Committee on Energy and Commerce. Consideration by this committee will be a critical first stop toward obtaining enactment.
PERA Announces Schedule for 2004 Marketing and Technical Program
The Production Engine Remanufacturers Association (PERA) has announced the schedule for its 2004 Marketing and Technical Program, which is slated to take place April 1-3 at the Seelbach Hilton Hotel, in Louisville, Ky.
Tower Plant Move to Affect Nearly 500 Employees
Earlier this week, Tower Automotive announced that in 2005 it will move production of Dodge Ram frames from its facility in Milwaukee to a plant in Mexico. In response to this news, the Milwaukee Journal Sentinel ran a story detailing the impact this move with have on Wisconsin’s manufacturing base. According to the Sentinel report, nearly 500 Milwaukee factory workers will lose their jobs as a result of the move. Almost 80,000 factory jobs have already disappeared from Wisconsin since 1999, the article stated.
Two Off-Road Organizations Promise to Add Excitement to the 2004 SEMA Spring Expo
The Off-Road Business Association (ORBA) and the United Rockcrawling & Off-Road Challenge (UROC) will participate in the annual SEMA Spring Expo, which is slated to take place March 5-6 at the Indiana Convention Center in Indianapolis. According to Peter MacGillivray, vice president of marketing and communications for SEMA, ORBA and UROC will bring the excitement of the rapidly growing off-road sports scene to the annual SEMA Spring Expo.
SEC Investigates Goodyear
The federal Securities and Exchange Commission is investigating accounting problems at Goodyear Tire & Rubber Co., the world’s largest tire maker said. News of the investigation sent Goodyear shares down 96 cents, or nearly 10 percent, to close at $8.96 on the New York Stock Exchange. The stock had been rebounding recently as the company pushed a new line of tires that analysts said could help make Goodyear profitable again.
Del-Nat Tire Names VP of Marketing
Jim Mayfield has joined Del-Nat Tire Corp. as vice president of marketing. His responsibilities will include all marketing and product management functions. Mayfield joined the tire industry in 1981 with Michelin Tire Corp., where he held various sales positions in replacement and OE sales.
ATP-Inc. to Produce Illustrated Parts Catalog Internally Using e-Publisher
The e-Publisher catalog management system from Vertical Development Inc. (VDI) has given replacement parts supplier ATP-Inc. the capability to generate illustrated parts lists and catalogs internally, bypassing traditional typesetting and desktop publishing services. According to VDI, the system will also allow ATP to produce literature faster and export data mapped in industry-standard formats.
Lund International Announces Two Executive Appointments
Lund International has promoted Bob Schuetz to vice president of aftermarket sales. Schuetz joined Lund in October 2003 in the newly created position of vice president of new business development. Lund has also announced the appointment of John Whitten as director of sales engineering. Whitten brings with him 11 years of quality and product engineering, most recently working in automotive accessories on a contract basis for General Motors and DaimlerChrysler.