Starcraft Shareholders Approve Merger With Wheel to Wheel, Tecstar
Shareholders of aftermarket and OEM supplier Starcraft Corp. have voted to approve a proposed merger agreement with Troy, Mich.-based Wheel to Wheel, Inc., an automotive engineering and design business. The transaction has received all required regulatory clearance and the merger is expected to close by the middle of January. In 1988, Starcraft and Wheel to Wheel jointly formed Tecstar, which provides and installs appearance enhancement items on vehicles provided by and returned to an original equipment manufacturer. The new agreement calls for Starcraft to acquire the remaining 50 percent ownership of Tecstar LLC and Tecstar Canada that it does not currently own by acquiring closely held Wheel to Wheel. The transaction merges Wheel to Wheel into a newly created subsidiary of Starcraft, which will exchange Starcraft common shares for shares of Wheel to Wheel.
Forbes Automotive Reporters Forecast Industry Trends for 2004
Automotive industry reporters from Forbes magazine will discuss the industry outlook and trends for 2004 with automotive public relations professionals on Wednesday, Jan. 28 at Dana Corp. headquarters in Farmington Hills, Mich. Presented by the Automotive Public Relations Council (APRC), the panel discussion will be moderated by Gary Corrigan, vice president of Dana corporate communications and chairman of APRC, and will feature Jonathan Fahey and Joann Muller of Forbes. Forbes is one of the country’s leading business magazines, reaching 4.4 million readers.
Cooperation Urged in Auto Costs Fight
As a former Ford Motor Co. executive, Kathleen Ligocki knows about the carmakers’ mission to slash supplier prices. But in order to survive long-term, automakers must work with suppliers to take out the waste, said Ligocki, now chief executive of Tower Automotive. Speaking on an Automotive News World Congress panel Monday in Dearborn, Mich., Ligocki, a former vice president for Ford customer services, called for a collaborative effort between suppliers and carmakers to improve both sides’ bottom lines.
TIA Consolidates, Maryland Office Becomes New HQ
The Tire Industry Association (TIA) will consolidate all of its offices in Bowie, Md., as of Feb. 1. TIA’s operations in Kentucky will be relocated and the building will be put up for sale. TIA said this decision comes after months of in-depth analysis into the cost-effectiveness of operating two offices in different states. Two members of the Louisville staff, Senior Vice President of Education and Technical Services Kevin Rohlwing and Director of Training Chris Marnett, will be moving to the Maryland office.
AWDA Segment Liaison Candidates Under Review
AAIA is in the process of reviewing candidates to join the professional team at AAIA headquarters and serve as liaison to the new Automotive Warehouse Distributors Association (AWDA) segment. AWDA officially became a segment of AAIA on Jan. 1. Individuals interested in learning more about the position, which will be based at the AAIA national headquarters in Bethesda, Md., should contact Kathleen Schmatz at 301-654-6664 or [email protected].
Aftermarket Legislative Advocate Passes Away
A long-time friend of the aftermarket, Jack Heyler, died on Dec. 26, 2003 after a six-year battle with emphysema. Heyler was a tireless worker in support of the independent aftermarket, leading industry efforts to defeat legislation that would have extended state mandated emissions warranties to 10 years/100,000 miles; and to obtain passage of SB 1146, which mandated that car companies make emissions-related service information and diagnostic tools available to the independent service industry. He was active in the Automotive Service Counsels of California and the Society for Automotive Engineers, helping found the Service Technicians Society a SAE affiliate group.
Borruso to Chair Motor Vehicle Lighting Council
Joe Borruso, president and CEO of Hella North America in Plymouth, Mich., has been elected chairman of the Motor Vehicle Lighting Council (MVLC). Joe Borruso, president and CEO of Hella North America in Plymouth, Mich., has been elected chairman of the Motor Vehicle Lighting Council (MVLC).
Dana and GETRAG Sign Joint-Venture Agreement with Volvo
A recently formed joint venture company between Dana and GETRAG has signed an agreement with Volvo Car Corp. (VCC) to purchase a 60-percent interest in VCC’s operations in Koping, Sweden. The resulting joint venture with VCC will be known as GETRAG All Wheel Drive AB, a Dana/GETRAG Co. The company will produce all-wheel-drive (AWD) and chassis systems and components for passenger cars and sport-utility vehicles.
Visteon Projects Profit After Losses
Visteon Corp. expects to earn a small net profit this year after losing at least $1.6 billion from 2001 to 2003, executives said Thursday. If Visteon turns a profit this year, it would be the first since 2000, the year the auto parts maker separated from Ford Motor Co. In a briefing for Wall Street analysts in conjunction with the North American International Auto Show, Visteon laid out its financial expectations for the first time in at least a year.
Former Urda Exec Forms New Aftermarket PR Agency
Kristen Simpson, former executive at Akron, Ohio-based PR agency Urda Co. (now Urda-Roberts), has launched Simpson Communications LLC. The new public relations agency, based in Shaker Heights, Ohio, will specialize in business-to-business communications for the automotive aftermarket. Simpson Communications will offer a full range of public relations services, including new product launches, press events, media relations, copywriting, strategic planning, event management and internal communications.