AFFINIA Exec Discusses State of Acquisition
One of the biggest news stories of the year was the sale of the Dana Automotive Aftermarket Group (AAG) to New York-based buyout firm Cypress Group, which agreed to purchase the AAG unit for approximately $1 billion. That deal was announced in early July of this year, and two months later, on Sept. 8, it was announced that Dana AAG would have a new name under its new owners – AFFINIA. aftermarketNews.com sat down with AFFINIA’s John Washbish in Las Vegas just prior to the start of the AAPEX show to update show attendees on the state of the transition. Washbish is AFFINIA president of Customer Relationship Management (CRM), a position he has held since 2003. Recently, his duties were expanded to include serving as vice president and general manager of the AFFINIA Undercar Group, which includes the Raybestos, Spicer, Aimco and McQuay-Norris brands.
Colfax to Sell Power Transmission Group to Genstar Capital, L.P.
Colfax Corp., a privately- held manufacturer of fluid handling and power transmission products, has entered into an agreement to sell its Colfax Power Transmission Group division to Genstar Capital, L.P., a private investment firm. Terms of the transaction were not disclosed.
Akebono North America Names New Executive Vice President
Akebono Corp., one of North America’s leading suppliers of advanced brake technology, has appointed Johann Finkelmeier as executive vice president, global strategy and business development.
Dana Third Quarter Profit Falls
Dana Corp., the biggest maker of axles for light trucks, said third-quarter net income fell 34 percent as U.S. carmakers trimmed production and raw material costs rose. Net income dropped to $40 million, or 27 cents a share, from $61 million, or 41 cents, the Toledo company said Wednesday. Sales rose 12.2 percent to $2.11 billion from $1.88 billion. Higher steel costs alone reduced net income by $22 million, Chief Executive Michael Burns said in a statement.
Monro Muffler Brake, Inc. Announces Record Second Quarter Results
Monro Muffler Brake has announced record financial results for the second quarter, which ended on Sept. 25. Second quarter sales increased 19.3 percent to $88.4 million from $74.1 million in the second quarter of fiscal 2004. The sales increase was driven, in part, by a 6 percent improvement in comparable store sales, following a 6.6 percent increase in the same quarter of last year.
Stability Control Jumping from Autos to Semis
Motive technology is always on the go. Take the rearview mirror. It made its way from the Indy 500 in the early 1900s onto every passenger vehicle made today. Now, an automotive technology is being used on semitrailer trucks. Bendix Commercial Vehicle Systems of Elyria, Ohio, has come up with a stability control system for 18-wheelers like those found in cars. It says the system could reduce the number of semi rollovers by 50 percent.
Executive Interview with Randy Mordue, Director, Aftermarket Division, Akebono Corp.
Our latest edition of “Executive Interview” features Randy Mordue, director, Aftermarket Division, Akebono Corp. Mordue joined Akebono North America in 1999. He has more than 20 years of sales, national account and new business development experience within the automotive aftermarket industry. Mordue recently took the time to talk with aftermarketNews.com and bring us up to speed on the latest developments at Akebono.
Brake Parts Inc. Receives Data Audit Certification (DAC)
Brake Parts Inc. announced this week that it is the first aftermarket company to pass all four groups of the Automotive Aftermarket Industry Association’s (AAIA) Data Audit Certification (DAC). DAC is part of AAIA’s Product Information Exchange Standards (PIES) program.
Car Care Council Women’s Board to Hold Seventh Annual Women’s Board Reception During AAPEX
The Car Care Council Women’s Board will hold its seventh annual Car Care Council Women’s Board Reception on Tuesday, Nov. 2 at 5 p.m. in rooms 106 and 107 of the Sands Expo Center, during the Automotive Aftermarket Products Expo (AAPEX) in Las Vegas. During the reception, the Women’s Board will present the first-ever Aftermarket Woman of the Year award, as well as recognizing winners of the Automotive Communications Awards and the Women’s Boards’ scholarship recipient.
Brake Parts Inc. Announces the Raybestos Brand Monster Truck Promotion
Brake Parts Inc., manufacturer of Raybestos brand brakes, will launch its new Raybestos brand Monster Truck promotion on Oct. 1. The promotion will run through Dec. 31. When professional service technicians purchase the Raybestos brand Ford F-150 Baja radio controlled truck, they will receive Raybestos brand professional grade product free.