Richard Keister Named WAI Executive Chairman; Former Keystone Automotive CEO Buys Ownership Stake in Business
ROYERSFORD, Pa. — WAI Global has announced the appointment of Richard Keister as executive chairman of the company. In conjunction with this appointment, Keister has purchased an undisclosed ownership position in the organization. Keister most recently served as chief executive officer of Keystone Automotive Industries, which was acquired by LKQ Corp. in October 2007. He
Keystone Automotive Reports First Quarter 2008 Net Sales of $143.9 Million
Keystone Automotive Operations has announced financial results for its fiscal first quarter ended March 29. Net sales for the first quarter were $143.9 million, a decrease of $2.4 million, or 1.6 percent, compared to $146.3 million for the same period in the prior year. This modest sales decrease occurred at a time when the macroeconomic environment remained soft and consumer spending on discretionary items remained conservative. The company believes that its first quarter performance versus overall industry trends suggest gains in market share driven by outstanding customer service and a broad and deep assortment of inventory.
Jan Huskey Promoted to Director of Industry Relations at Keystone Automotive
Keystone Automotive Industries, an LKQ company, has promoted Jan Huskey to director of industry relations. Huskey has been with Keystone for 6 years and most recently served as Keystone regional manager. Huskey has worked closely with the collision and insurance communities in many markets and conditions. Prior to joining Keystone, she spent more than 10 years in managerial roles at PG Products, one of the founding suppliers of alternative parts to the collision industry.
Keystone Automotive Operations Reports Fourth Quarter and Fiscal 2007 Results
Keystone Automotive Operations, Inc., a North American distributor and marketer of automotive aftermarket accessories and equipment, has announced financial results for the fourth quarter and fiscal year ended Dec. 29, 2007. Net sales for the fourth quarter were $141.7 million, an increase of $3 million, or 2.1 percent, compared to $138.7 million for the fourth quarter of the prior fiscal year. The sales increase was driven by an increased focus on customer service and inventory availability, and was achieved despite continued conservative consumer spending on discretionary items.
Executive Interview with Chris Northup, VP, Keystone Automotive
Christopher Northup joined Keystone Automotive in 1983, working in the corporate office as the marketing manager. Today, as vice president, he continues to have various nationwide operation, sales and marketing responsibilities. He continues to function as the primary industry spokesperson for the company and currently serves on the I-CAR Education Foundation Board and various other collision industry committees and boards.Join us as Northup brings us up to speed on the latest details regarding Keystone’s recent merger with LKQ and what the future holds for the two newly combined companies.
LKQ Completes Acquisition of Keystone Automotive Industries
LKQ Corp. has completed its acquisition of Keystone Automotive Industries, Inc. As a result of the merger, Keystone is now a wholly-owned subsidiary of LKQ Corp. and Keystone stockholders will receive $48 in cash for each Keystone share they held prior to the closing. Ronald Foster, the former chairman of the board of Keystone, and Rick Keister, the former president and chief executive officer of Keystone, were appointed to LKQ’s board of directors upon completion of the merger.
Keystone Automotive Industries Shareholders Approve LKQ Merger
Stockholders of Keystone Automotive Industries recently approved a proposed merger with LKQ Acquisition Co., a subsidiary of LKQ Corp., at a special meeting held in Nashville, TN. The proposed merger was approved with 71 percent of the company’s shares outstanding voting in favor of the transaction and more than 80 percent of the votes cast supporting the proposal. The closing of the merger currently is expected to occur today.
Keystone Automotive to Host Open House at Omaha Branch
Keystone Automotive Industries, Inc. has announced that it will host an open house to show appreciation for past business and to welcome new customers. The event will be held on Sept. 5 from 5 pm-8 pm in Omaha, NE.
Keystone Automotive Industries Inc. Announces Record Date for LKQ Merger Vote
Keystone Automotive Industries, Inc. has announced that it has set a record date of Aug. 30 for shareholders to vote on a previously announced merger agreement with LKQ Corp. in which LKQ will acquire Keystone for $48 per share in cash, representing an aggregate purchase price of approximately $811 million on a fully diluted basis.
Keystone Automotive Operations Reports Second Quarter 2007 Results
Keystone Automotive Operations, Inc., a distributor and marketer of specialty automotive equipment and accessories in North America, has announced financial results for the second quarter ended June 30. Net sales were a record $172.6 million, an increase of $3.4 million, or 2 percent, compared to $169.2 million for the same period in the prior year. The company said the sales increase was driven by an increased focus on customer service and greater inventory availability, and was achieved in spite of conservative consumer spending on discretionary items as a result of high gasoline prices and general economic uncertainty.