ArvinMeritor Net Income Up $78 Million
ArvinMeritor reported financial results for its second fiscal quarter, which ended March 31. The company posted sales of $2.3 billion in the second quarter of fiscal year 2006, up three percent from the same period last year. Operating income was $50 million, up $55 million compared to the same period last year. Excluding $17 million of restructuring costs, operating income would have been $67 million in the second quarter of fiscal year 2006.
Jinks Receives John F. Cummings Award from Filter Manufacturers Council
Monty Jinks of Purolator Products was awarded the John F. Cummings Award for 2006 by the Filter Manufacturers Council (FMC) on April 2 at the group’s Spring Council meeting in Monterey, CA. FMC is a product group of the Motor & Equipment Manufacturers Association (MEMA). Founded in 1971, FMC represents manufacturers of vehicular and industrial filtration products.
ArvinMeritor Sells Light Vehicle Aftermarket Exhaust Business
ArvinMeritor today announced it has sold its North American Light Vehicle Aftermarket (LVA) exhaust business based in Loudon, TN, and Moncton, New Brunswick, Canada, to IMCO (International Muffler Company), a producer of aftermarket exhaust systems and components based in Schulenburg, TX.
ArvinMeritor Reports First Quarter Earnings Gain
ArvinMeritor, Inc. reported a net income of $34 million, or $0.49 per diluted share, for first fiscal quarter ending Dec. 31, an earnings increase of more than 88 percent from last year’s total of $18 million, or $0.26 per diluted share.
Twenty-Seven New Products Receive AAPEX Awards
Twenty-seven companies that participated in this year’s Automotive Aftermarket Products Expo (AAPEX) New Products Showcase received awards for their innovative new products that enhance the driving experience. Awards were announced on Nov. 1, opening day of AAPEX in Las Vegas.
Clarcor Buying New York Manufacturer
Clarcor Inc., a diversified manufacturer of mobile, industrial and environmental filtration products and consumer and industrial packaging products, has signed a deal to buy manufacturer Martin Kurz & Co. for undisclosed terms.
Dan Daniel Talks about the Future of ArvinMeritor’s LVA Business
Dan Daniel, president of ArvinMeritor’s Light Vehicle Aftermarket (LVA) division, shared his predictions and plans for the future of ArvinMeritor’s LVA unit during an exclusive presentation on May 11 to Babcox editors and media representatives. ArvinMeritor is an $8 billion dollar company, with $850 million in annual sales at its Light Vehicle Aftermarket division, which Daniel leads. Two-thirds of the company’s business is in North America.
Kathy Edge Named New Chair of Filter Manufacturers Council
Kathy Edge, marketing manager for Parker Hannifin/Racor Filtration, has been elected chairman of the Filter Manufacturers Council (FMC). Founded in 1971, FMC represents manufacturers of vehicular and industrial filtration products.
ArvinMeritor Receives Vendor of the Year Award from NAPA Canada
ArvinMeritor’s Light Vehicle Aftermarket (LVA) group has received the 2003 Vendor of the Year 2003 from NAPA Canada. NAPA Canada is part of Genuine Parts Company, a distributor of automotive replacement parts in Canada, the U.S. and Mexico.