AADCO Automotive to Acquire Coreline Auto Parts Ltd.
AADCO Automotive Inc., a supplier of Like, Kind and Quality (LKQ) used auto parts, has signed an agreement to acquire Coreline Auto Parts Ltd. of Milton, Ontario. Founded in 1977, Coreline Auto Parts is the third largest automotive core and materials broker in Canada doing business from coast to coast. A privately held company with annual revenues of $1.5 million, Coreline will significantly expand the AADCO distribution network across Canada, according to AADCO CEO Charles Hodgkinson.
Campaign to Bring Back the “Midas Touch”
Midas wants to return to its core value of trust with the resurrection of a marketing campaign first used in Midas advertising in the 1980s. The company’s new national advertising agency DDB Chicago is collaborating with Ogilvy & Mather Toronto on the “Trust the Midas Touch” campaign. The campaign will include commercials that take place in a Midas shop and show a humorous dialog between a customer of Midas and a Midas service employee, who is hooked up to a polygraph machine. The commercials are the first in a long-term campaign to grow Midas’ category-leading shares in brakes and exhaust and to support the expansion of its services, including oil changes and other routine maintenance services.
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.
Hankook Tire Boosts Sales in 2003
Hankook Tire America Corp. has reported one of its strongest 12-month sales periods in the company’s history. Increased supply from overseas and major OE contracts played pivotal roles in boosting 2003 sales, according to Bill Bainbridge, marketing director for Hankook.
ASC Adds West Coast National Accounts Manager
ASC Industries has hired Alfred Cardoza as its new West coast national accounts manager. In this new role, Cardoza will be responsible for growing sales and managing account activity West of the Rocky Mountains. ASC recently expanded its distributor network in the West.
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.
DST Asks: What Value Do You See in Sharing Detailed Sales Data?
An ongoing dilemma exists between all tiers of the supply chain due to the gulf caused by lack of collaboration and sharing of sales information that would ultimately benefit all — manufacturers, distributors, parts retailers and service providers. Where do you stand on these issues? Our objective is to generate the thought and dialogue that might provide energy to new initiatives. See our special offer at the end of this week’s column!
Advance Auto Parts Reports Record Fourth Quarter and Fiscal 2003 Results
Advance Auto Parts has reported record revenue and earnings for its fourth quarter and fiscal year, which ended January 3. Fiscal 2003 included 53 weeks of operations compared to 52 weeks in 2002, with the additional week falling in the fourth quarter of 2003. Sales increased 19.2 percent in the fourth quarter to $821.3 million from $689.2 million.
“DST Asks” Parts Distributors: Which Features of a Computerized Business Management System are Most Useful to Your Business?
Our youngest readers may not be able to remember that there was a time before remote control technology when changing the channel on your television actually required getting up off the couch and making the long walk over to it. “Channel surfing” only existed when you could get one of your kids to sit next to the TV and turn the dial for you. Life was brutal then.
Executive Interview with Jim Taylor, CEO of Thomas Group
Our latest edition of “Executive Interview” features Jim Taylor, CEO of the Thomas Group. Taylor joined the Thomas Group in 2001 as vice president and CFO. From 1997 to 2001, Taylor served as president of the Chancellor Group, a Dallas, Texas, management consulting firm, where he assisted companies in restructuring, raising funds and completing initial public offerings. Join us as Taylor tells us more about the Thomas Group culture and how it works for its clients.