Auto Suppliers with Links to Ford See Shares Fall on Monday
From AFX News Limited NEW YORK — Shares of auto suppliers with ties to Ford Motor Co. continued to fall Monday on the automaker’s announcement of plans to significantly cut production for the remainder of the year. On Friday, the nation’s No. 2 automaker said fourth-quarter production would be down 21 percent, or 168,000 units,
Hennessy Industries Promotes Four Marketing Executives
Hennessy Industries, one of North American’s largest full-line wheel-service equipment manufacturers, has promoted four employees in its marketing department. Kevin Keefe was promoted to director of marketing, Don Vanderheyden and Andrew Vecci were both promoted to group marketing manager positions overseeing product management and Carol Williams was promoted to commercial marketing coordinator.
Industry Abuzz as Auto Minds Meet
If the atmosphere in Detroit seems especially thick Friday, for once it won’t be the humidity. It will be the high-pressure impact of two great forces — one sweeping in from Europe, the other fixed in Michigan — which could shake the automotive industry from Japan to Detroit. Rick Wagoner, the head of General Motors Corp., is scheduled that day to meet with Carlos Ghosn, the head of both Nissan and Renault, to discuss a possible GM-Renault-Nissan alliance at the suggestion of GM investor Kirk Kerkorian.
Automotive Systems Expert David Alexander Joins ABI Research
ABI Research has named David Alexander senior analyst, automotive systems. He brings to his new post the experience he most recently gained as a writer and associate editor for three trade publications at SAE International:Automotive Engineering International, Aerospace Engineering and Off Highway Engineering magazines.
Exide Appoints New Executive Vice President and CFO
Exide Technologies announced today that its board of directors has appointed Francis (Fran) Corby Jr., as the company’s new executive vice president and chief financial officer (CFO), effective March 1. Corby succeeds J. Timothy Gargaro, who left the company at the end of 2005.
Gill Industries Signs Letter of Intent to Purchase Plant in Mexico from Johnson Controls
Gill Industries Inc. has signed a letter of intent to purchase a plant near Mexico City from Johnson Controls that it hopes will significantly increase its presence as an international supplier of precision assemblies and stamped metal products for the automotive, office furniture and utility vehicle industries.
Modine Promotes Margaret Kelsey to Corporate Treasurer
Modine has promoted Margaret “Peggy” Kelsey to the position of corporate treasurer and assistant secretary. Kelsey, currently an officer in the company, as senior counsel and assistant secretary, will take over the new duties on January 1, 2006, reporting to Brad Richardson, vice president, finance and CFO.
ThyssenKruppp Questions Future of it US Car Parts Business
German industrial group ThyssenKruppp plans to restructure its struggling car parts business in the United States by either selling the unit or closing some operations, a spokesman for ThyssenKruppp Automotive said last week.
Ex-Dana Exec Paul Bishop Joins Ice Industries as President, COO
Ice Industries, a metal stamping and machining company based in Toledo, OH, has appointed Paul Bishop as president and COO. Bishop is a well-respected automotive industry executive who spent 16 years with Dana Corp., most recently as president of the $1.5 billion Global Torque Group, a division of Dana’s Automotive Systems Group.
Alliance Parts Warehouse Announces Appointment of Dean Toole
Dean Toole has been appointed as vice president and general manager of Alliance Parts Warehouse in Little Rock, AR. Richard H. Morgan, chairman of the board of APW, announced that Toole is scheduled to assume leadership of APW on Sept. 1, 2005.