Executive Interview with George Schafer, President of Eastern Catalytic
This week, we hear from George Schafer, president of Eastern Catalytic. He founded the company, first called Eastern Manufacturing Inc., in Langhorne, PA, in 1980. Join us as Schafer shares his thoughts on the potential impact of emissions control legislation on the aftermarket industry as well as some changes in his company’s business strategy.
Ruling Due Tuesday on Plastech-Chrysler Flap
From Detroit Free Press DETROIT — A U.S. bankruptcy judge said that he will rule Tuesday afternoon on a dispute between Chrysler LLC and Plastech Engineered Parts Inc., and he encouraged the two sides to reach a second temporary deal to keep Plastech’s parts flowing to Chrysler plants until then. A temporary deal that has
Chrysler Plastech Dispute to Return to Court
From Detroit Free Press DETROIT — The legal dispute that brought five Chrysler LLC plants to a halt last week returns to court Wednesday. Chrysler and Dearborn, MI-based supplier Plastech Engineered Products Inc. are to argue over whether Chrysler can take back molds and dies that Plastech uses to make parts for nearly all Chrysler’s
Holley Performance Products Files Bankruptcy
Holley Performance Products Inc., a century-old maker of specialty parts for stock-car and drag-racing, filed for bankruptcy, faulting a late 1990s expansion for saddling the company with too much debt. Closely held Holley would be taken over by noteholders owed as much as $145.8 million, according to an outline of a reorganization plan filed today in U.S. Bankruptcy Court in Wilmington, DE. The company, based in Bowling Green, KY, listed debts of $243 million and assets of $106 million as of Jan. 28.
The Week in Review (Feb. 4-8, 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, click on any of the dates listed at the bottom of
Deal Revives Chrysler Output: Production Resumes on Interim Accord with Plastech
Production resumed at Chrysler LLC and interiors supplier Plastech Engineered Products Inc. on Tuesday after the two companies reached a deal that temporarily resolves a dispute that threatened to shut nearly all of Chrysler’s factories. Chrysler halted production at five assembly plants Monday after the Auburn Hills, MI-based automaker on Friday canceled its contracts with the supplier, which filed for Chapter 11 bankruptcy protection that day.
AAIA Calls on Congress to Include Tax Credit for Vehicle Maintenance
Kathleen Schmatz, president and CEO of the Automotive Aftermarket Industry Association (AAIA), has called on the U.S. Congress to include in the economic stimulus package now being debated, a tax credit to American car owners for actions they take to maximize the fuel efficiency of their vehicles. Schmatz pointed to a recently released Wall Street Journal/NBC News poll that found Americans cite gasoline prices as the economic woe that most affects them.
The Week in Review (Jan. 28-Feb.1, 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, click on any of the dates listed at the bottom of
Bosch Stability Control System Receives International Recognition for Safety Contributions
Bosch has received prestigious awards from FIA (Federation Internationale l’Automomobile) and Prince Michael of Kent for its "contributions to worldwide road safety." The company was recognized for its stability control system, known in the U.S. as electronic stability control. Bosch developed the active safety system and was the first company to put it on the market in 1995.
Proliance International, ACP of Florida Enter Long-Term Supply Agreement
Proliance International has entered into a supply agreement with ACP of Florida, LLC (doing business as Cooling Parts Southeast). The agreement expands the availability of Proliance’s broad product offering of heat exchange and temperature control products in southern U.S. markets. Along with this action, the company announced that it is closing an additional nine branch locations as part of its previously stated initiative to develop the best "go-to-market strategy" for each of the regions and customer groups it serves. In addition, ACP will purchase select assets and assume the supply and servicing of Proliance products to local-market installer customers previously served by the nine Proliance locations.