Magna to Take Auto Parts Subsidiaries Intier, Decoma and Tesma Private
Magna International Inc. has made a $1.3-billion bid to take its three publicly traded auto parts subsidiaries private in a move the company says will help it win business from Japanese and South Korean carmakers.
Street Glow Announces the Creation of Street Glow International
Street Glow Inc., which produces performance lighting products for the aftermarket, has announced the creation of Street Glow International, an affiliate of Street Glow, Inc. In June of this year Street Glow announced that it had signed a letter of intent to sell a portion of ownership to a Chinese investment group called Street Glow (Hong Kong), Ltd. This group includes members from Street Glow’s long-time Chinese vendor which manufactures virtually all of the Street Glow brand of Auto-Neon and performance lighting products. This announcement marks the completion of that sale.
Joe Felicelli To Be AASA’s New Chairman
Joe Felicelli, executive vice president, worldwide aftermarket operations, for Federal-Mogul Corp. in Southfield, Mich., will take the reins as the new chairman of the Automotive Aftermarket Suppliers Association (AASA) on Monday, Nov. 1, at the group’s board meeting in Las Vegas. Felicelli is the second aftermarket executive to serve as leader of the association, established in 2002. Current Chairman Charley Johnson, president and CEO of TransPro Inc., in New Haven, Conn., will step down as the group’s first chairman at the November meeting.
Federal-Mogul Promotes Joe Felicelli to Executive Vice President of Worldwide Aftermarket Operations
Joseph Felicelli has been appointed to the position of executive vice president, worldwide aftermarket operations for Federal-Mogul. Since 2001, Felicelli has served as senior vice president, worldwide aftermarket operations, with responsibility for Federal-Mogul’s global aftermarket operations, including sales, marketing, distribution and logistics, as well as manufacturing for chassis and brake hard parts, fuel, wipers, ignition and lighting products.
Hella Reports Modest Sales Gains for the Year
Global automotive supplier Hella has reported a nearly two percent increase in sales for the year ending May 31. The company said the increase was spurred by above-average sales growth in Europe and the Asia/Pacific region and increasing orders for original equipment by North American automakers. Worldwide annual sales for lighting and electronics supplier Hella KGaA Hueck & Co. grew to $3.77 billion for 2003/2004, compared with the previous year’s $3.69 billion, the company reported.
Hella Begins Fourth Year of Engineering Education Program with Kettering University
Hella North America is entering into its fourth year participating in the engineering co-op program with Kettering University in Flint, Mich. The program helps provide engineering students with real-world experience in lighting and electronics.In the Hella program, freshmen work in engineering disciplines, sophomores learn testing procedures, juniors participate in manufacturing and design initiatives and seniors work with Hella supervisors while developing their final theses.
Street Glow Promotes Two Executives
Street Glow, a manufacturer in auto-neon and performance lighting, has promoted Ralph Dodge to vice president of sales. In this new role, Dodge will be responsible for the corporation’s entire sales effort and will report to COO/CFO John Bailey. Dodge, who has been with Street Glow for one year, previously served as director of national accounts for the company. He has more than 26 years of sales experience in the automotive aftermarket, selling to retailers, mass merchants and nontraditional markets.
SEMA Board of Directors’ Election Results Announced
The results of the Specialty Equipment Market Association (SEMA) board of directors election are final. SEMA, has elected three newcomers and re-elected seven incumbents into office on its board of directors.
KC HiLites Hires Bob Cook Sales
KC HiLites, a leading brand of auxiliary lighting, has selected Bob Cook Sales for sales representation in the Southern states.
Street Glow to Sell a Portion of Its Ownership, President Steps Down
Street Glow, Inc., which produces performance lighting products for the aftermarket, has signed a letter of intent to sell a portion of ownership to a Chinese investment group called Street Glow (Hong Kong), Ltd. This group includes members from Street Glow’s long-time Chinese vendor which manufactures virtually all of the Street Glow brand of Auto-Neon and performance lighting products. With the sale comes some internal restructuring, the company said. Lou Merz, who joined the company in June 2003, has stepped down as president. John Bailey, Street Glow’s CFO since 1998, will assume COO duties and responsibilities. The company will not be naming a new president.