R. L. Polk & Co. Introduces Aftermarket Inventory Efficiency Award
R. L. Polk & Co. has introduced a new award that recognizes and rewards outstanding aftermarket companies for process improvements relative to inventory efficiency. The Polk Aftermarket Inventory Efficiency Award will be presented at the 2005 Global Automotive Aftermarket Symposium (GAAS) being held May 11-12 at the Hyatt Regency O’Hare in Chicago.
The Year in Review – A Look at the Top 10 News Stories of 2004
Whether you believe 2004 was a good or bad year for the aftermarket, no one can argue this was a big news year for our industry. The year included noteworthy shifts in leadership, mergers, acquisitions and more, most of which will significantly impact the industry for many years to come. Here’s a month-by-month look at what aftermarketNews.com considers to be biggest news events that happened in our industry in 2004.
Diggory Elected Chairman of Heavy Duty Manufacturers Association
William “Bill” Diggory, vice president and general manager of Chicago Rawhide, Elgin, Ill., has been elected 2005 chairman of the Heavy Duty Manufacturers Association (HDMA). Diggory served as HDMA vice chairman in 2004.
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.
Live from AAPEX: MEMA Honors Long-time Members at AASA Executive Reception
The Motor & Equipment Manufacturers Association (MEMA) honored 11 companies for their longtime membership with the association during the AASA/MEMA Executive Reception held Monday night at AAPEX. Manufacturers with membership anniversaries from 25 to 70 years were recognized.
Amcast CFO Announces Resignation
Francis Drew, vice president of finance and CFO of Amcast, announced that he will resign from his position on Nov. 5. Drew has offered to serve the company on a consulting basis during the transition to his replacement.
Three Join AASA Board
Three automotive aftermarket executives have joined the board of governors of the Automotive Aftermarket Suppliers Association (AASA). AASA is the aftermarket market segment association of the Motor & Equipment Manufacturers Association (MEMA). New board members serving three year terms are: Kevin Baird, CEO, Qualitor Inc., Southfield, Mich.; John Casanova, senior vice president, Remy International, Anderson, Ind.; and John Casanova, senior vice president, Remy International, Anderson, Ind.
Overseas Automotive Council Selects Three New Board Members
Three new members have been elected to the Overseas Automotive Council (OAC) Board of Directors for three-year terms of office. OAC is the international aftermarket division of MEMA. The council promotes the sale in foreign markets of automotive products manufactured in North America.
Joe Felicelli To Be AASA’s New Chairman
Joe Felicelli, executive vice president, worldwide aftermarket operations, for Federal-Mogul Corp. in Southfield, Mich., will take the reins as the new chairman of the Automotive Aftermarket Suppliers Association (AASA) on Monday, Nov. 1, at the group’s board meeting in Las Vegas. Felicelli is the second aftermarket executive to serve as leader of the association, established in 2002. Current Chairman Charley Johnson, president and CEO of TransPro Inc., in New Haven, Conn., will step down as the group’s first chairman at the November meeting.
Private Equity Firms Drive Away With More Auto Parts Deals
The auto parts industry continues to be one of the favorite places for private equity firms to put their money as they invested more than $1.5 billion in the industry in July.