Appearance Accessories Capture More of Market
Over the past eight years, appearance/body accessory products have shown the largest growth of any product group in the industry, increasing 96.4 percent. Following closely is custom wheels, with performance chemicals in third place.
Key Safety Systems Forms Shanghai Joint Venture
Key Safety Systems has formed a new joint venture with Yanfeng Visteon Automotive Trim Systems, based in Shanghai, China. With 2004 revenues expected to exceed $1 billion, Yanfeng Visteon is the largest interior trim manufacturer in China, and one of the largest producers of steering wheels.
Bandag and Yellow Roadway End Roadway Express Outsourcing Relationship
Yellow Roadway Corp. has said it will not renew its existing agreement with Bandag for the outsourcing of Roadway Express tire and wheel services. The agreement has been in place since 1999. Under the existing agreement Yellow Roadway is obligated to repurchase all tires and wheels owned by Bandag and used on the Roadway Express fleet by Aug. 1. Bandag estimates the value of the tires and wheels to be approximately $37 million.
Duraline Pres-On Abrasives and Future Abrasives Co. form Global Abrasive Products, Inc.
Duraline Pres-On Abrasives Inc., LLC and Future Abrasives Co. recently merged to form Global Abrasive Products Inc. (GAP), a service-driven abrasive supply and manufacturing company. This merger makes Global Abrasive Products Inc. one of the largest abrasive convertors in the U.S.
SEMA Raises $5,000 for Charity
More than $5,000 was raised for charity through a variety of special activities that took place during the SEMA International Auto Salon-Los Angeles earlier this month. Proceeds benefit Athletes and Entertainers for Kids, a nonprofit organization that provides a variety of programs to children in need.
PPG Introduces New Line of Custom Finishes
PPG Automotive Refinish recently launched a new brand for its line of custom finishes. The new Vibrance Collection will showcase what the company described as “hot colors, unique pigments and special-effect finishes,” as well as a line of special primers, clears and detailing products. PPG is also finalizing a new co-branding partnership with Hot Wheels, a Mattel, Inc. brand, to collaborate on the production of 12 anodized-looking Hot Wheels SPECTRAFLAME colors in the Vibrance Collection for use in automotive refinishing.
Cooper Tire to Sponsor Saturn Motorsports Racing Program
Cooper Tire & Rubber and its subsidiary Mickey Thompson Performance Tires and Wheels, has announced a new sponsorship and supply agreement with Saturn Motorsports. The agreement positions Cooper Tire as a major associate sponsor of the Saturn Motorsports Pro FWD Ion, driven by three-time world champion and current NHRA point’s leader, Lisa Kubo. Cooper Tire will also title sponsor a Saturn Motorsports tuner car slated to compete later this year in Sport FWD.
Hayes Lemmerz To Close Michigan Plant
Hayes Lemmerz International said it will permanently close its Howell, Mich., manufacturing facility as part of a manufacturing rationalization plan for its North American Wheel Group. The closure is intended to reduce operating costs and increase facility utilization, the company said.
Automotive Specialty Industry Enjoyed Growth in 2003, Reports SEMA
Despite a sluggish economy, the U.S. automotive specialty equipment industry grew 7.7 percent to $28.9 billion in 2003, according to new findings from the Specialty Equipment Market Association (SEMA). Despite a sluggish economy, the U.S. automotive specialty equipment industry grew 7.7 percent to $28.9 billion in 2003, according to new findings from the Specialty Equipment Market Association (SEMA).
Dana Today Celebrates 100 Years in Business
Today, Dana Corp. celebrates 100 years in business with its founding on April 1, 1904. On that day, an engineer named Clarence Spicer began producing his encased universal joint, which effectively replaced the sprocket-and-chain power transmission of the day.