Aftermarket Symposium Panel To Discuss Upcoming Underhood Trends for 2010
A panel of automotive aftermarket suppliers will discuss “Under the Hood Car Trends/Future 2010” at the ninth annual Global Automotive Aftermarket Symposium (GAAS). GAAS 2004 is set for Tuesday and Wednesday, May 18-19, at the Hyatt Regency, Chicago. The panel will take place at 9:15 a.m. on Tuesday, May 18.
Auto Part Suppliers Study Jobs
Automotive jobs will continue to leave Michigan, but there are remedies, says a report on the future of manufacturing to be delivered today at the opening session of the Society of Automotive Engineers World Congress in Cobo Center in Detroit. The U.S. is expected to see an 11 percent drop in its automotive production jobs by 2010, according to “The Odyssey of the Auto Industry” a study conducted by Roland Berger Strategy Consultants for the Original Equipment Suppliers Association.
PPG Announces Management Assignments
PPG Industries has announced two management assignments. Reg Norton, director of global manufacturing and supply chain for PPG’s automotive refinish business unit, has been appointed global director, environment, health and safety, effective April 1. He will replace David Cannon Jr., vice president, environment, health and safety, who is leaving the company on March 31. Lynne Schmidt, director of government affairs, will be promoted to vice president, government and community affairs, and executive director of the PPG Industries Foundation, effective July 1.
Bendix Brakes Expands Partnership with Pedregon Racing
Honeywell’s Bendix brakes has renewed its associate sponsorship with former Funny Car champion Cruz Pedregon for the 2004 NHRA POWERade drag racing series season. The brand has also expanded its involvement with the team by becoming an associate sponsor on 2003 Funny Car Champion Tony Pedregon’s Quaker State Funny Car.
Hankook Premiers New Corporate Identity Program
Hankook Tire Co. unveiled a new corporate identity program during a recent presentation at its headquarters in Seoul, Korea. The new look is the latest in a series of strategic moves to build the company’s global image as a leading manufacturer and marketer of tires.
Prestolite Electric Holding Up for Sale
Genstar Capital has entered into a definitive agreement for the sale of Prestolite Electric Holding to an affiliate of First Atlantic Capital. Prestolite Electric is a global manufacturer of alternators and starter motors selling into high-margin, niche markets for heavy-duty, military and industrial applications.
Maxxis Announces Sports Sponsorships
In conjunction with its global branding efforts, international tire manufacturer Maxxis International has become the “The Official Tire of the Houston Rockets.” The sponsorship agreement remains in effect for the balance of the 2004 NBA season. Maxxis has also announced its sponsorship of LPGA Tour Golfer Candie Kung for the 2004 LPGA season.
ChevronTexaco Celebrates 100th Anniversary of Havoline Brand
ChevronTexaco Global Lubricants is launching a year-long program to celebrate the 100th anniversary of the Havoline brand. As part of the centennial celebration, ChevronTexaco said it is investing in numerous marketing programs and consumer promotions to drive the Havoline name in 2004, including sponsorship of the U.S. Olympic Team competing in the 2004 Athens Summer Olympic Games, retro product packaging and a sweepstakes with a grand prize of $1 million.
NASCAR Driver Bill Lester to Give Keynote Address at GAAS
Bill Lester, driver of the No. 8 BHR Dodge in the NASCAR Craftsman Truck Series, will be the luncheon speaker on Tuesday, May 18, at the ninth annual Global Automotive Aftermarket Symposium (GAAS). GAAS 2004 will take place on May 18-19, at the Hyatt Regency, Chicago, Ill.
Restructuring Charges Drive Midas to a Net Loss of $76.2 Million in 2003
Midas reported a net loss of $76.2 million — or $4.93 per diluted share — for fiscal 2003, which ended Jan. 3. Midas said the loss is primarily the result $102.6 million in charges related to its restructuring, completed in April. As part of the restructuring, Midas exited its wholesale distribution business and refocused its resources on retail franchising and real estate businesses.