Johnson Controls Earnings Increase 11 Percent on Record Third-Quarter Sales
MILWAUKEE — Johnson Controls, Inc. (JCI) reported record sales and earnings for the third quarter of fiscal 2008. Sales for the quarter ended June 30, increased to $9.9 billion, up 11 percent from $8.9 billion for the 2007 third quarter. Segment income was $645 million, a 13 percent increase over $573 million last year, with
The Week in Review (April 28 – May 2, 2008)
By Amy Antenora The Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says "News Archives" at the
GPC Reports Increased Third Quarter Sales and Earnings
Genuine Parts Company (GPC) has reported increased sales and earnings for the third quarter and nine months ended Sept. 30. Thomas Gallagher, chairman, president and chief executive officer, announced that sales totaling $2.8 billion were up 4 percent compared to the third quarter of 2006. Net income for the quarter was $128.6 million, an increase of 6 percent over $121.3 million recorded in the same period of the previous year. Earnings per share on a diluted basis were 76 cents, up 7 percent compared to 71 cents for the third quarter last year.
ASC Mexican Division, Brummer Mexicana, Awarded Autozone Mexico “Extra Miler” Honors
Brummer Mexicana en Puebla, S.A. de C.V., a division of ASC Industries, Inc., was honored with the “Extra Miler” vendor award at the recent Autozone Mexico 2007 Summit. Brummer was recognized for its excellent service, quality and teamwork for supplying new water pumps, fuel pumps and filters from ASC’s parent company, United Components Inc., business
CAPA Elects New Members to Technical Committee
WASHINGTON, DC – The Certified Automotive Parts Association (CAPA) has announced the election of Mike Chiu of Pro Fortune; Jim Cochran of Action Crash Parts; Tom Holmes of KSI; David McCreight of Collision Resources, Inc.; Mike Schoonover of Schoonover Bodyworks, Inc.; and Jeanne Silver of CARSTAR to CAPA’s Technical Committee. The CAPA Technical Committee is
Oshkosh Truck Corp. Promotes Szews to President and COO, Sagehorn to CFO
Oshkosh Truck Corp. has promoted Charles Szews from executive vice president and chief financial officer to president and chief operating officer of the company, effective Oct. 1. In addition, David Sagehorn has been promoted from vice president and treasurer to executive vice president, chief financial officer and treasurer, also effective Oct. 1.
PPG Posts Record Sales for Second Quarter
PITTSBURGH — PPG Industries has reported record sales for the second quarter – also reporting the highest quarterly sales in the company’s history. Sales for the second quarter were $3.2 billion, surpassing the record performance set just last quarter. Year over year, second quarter sales were up 12 percent. Second quarter net income was $249
Keystone Automotive Acquires Tulsa-Based Aftermarket Parts Business
Keystone Automotive Industries has acquired the assets of Auto Panels Plus, based in Tulsa, OK. Auto Panels recorded sales of approximately $5 million for the twelve months ended March 31, and operates locations in the Tulsa and Oklahoma City markets. Terms of the transaction were not disclosed.
Mr. Gasket Performance Group Receives the First Mid America Motorworks M-Curve Supplier of the Year Award
Mid America Motorworks, a provider of parts and accessories for Corvettes and Air-Cooled Volkswagens, has selected Mr. Gasket Performance Group as the recipient of its first annual M-Curve Supplier of the Year Award. The award honors Mr. Gasket’s exceptional performance in providing products and service to Mid America Motorworks and its customers. In conjunction with the award, and on behalf of Mr. Gasket Performance Group, Mid America Motorworks will donate $4,000 to the Specialty Equipment Manufacturer’s Association (SEMA) Memorial Scholarship Program.
Executive Interview with Jose Maria Alapont, President and CEO of Federal-Mogul
This week we feature our exclusive interview with Jose Maria Alapont, president and chief executive officer (CEO) of Federal-Mogul. Alapont joined Federal-Mogul in early 2005. Prior to that, he served as CEO of IVECO, the commercial vehicle division of the Fiat Group. In the past 18 months, he has been simultaneously leading the company out of Chapter 11 bankruptcy protection while also forging the future of the company. Alapont and other Federal-Mogul executives met with Counterman/aftermarketNews Publisher Jon Owens and Counterman Editor Brian Cruickshank at the AAPEX show in Las Vegas last month, where they spoke at length about Federal-Mogul’s emergence from bankruptcy, the current state of the industry and what Alapont thinks the future will look like for Federal-Mogul.