BWD Automotive Announces Vehicle Service Professional Rewards Program
BWD Automotive has launched a new Vehicle Service Professional (VSP) Rewards program, designed to foster, preserve and enhance the relationship among automotive repair technicians, distribution customers and BWD Automotive. The goal of VSP Rewards is to provide today’s professional automotive technician with up-to-date educational and reference tools required by an increasingly complex automotive repair industry.
Advance Auto Parts Unveils New “2010” Format in Orlando
Advance Auto Parts has announced its grand re-opening in the Orlando, Fla., market, bringing 49 retail stores and 525 employees under the newly branded name, “Advance Discount Auto Parts.” Advance Auto Parts has invested approximately $4 million to remodel the 49 stores to the new “2010” format, which is currently being rolled out across the company’s chain. The new format features a new floor layout with improved product adjacencies, enhanced systems to offer more convenience to customers and high-impact signage.
Hankook Premiers New Corporate Identity Program
Hankook Tire Co. unveiled a new corporate identity program during a recent presentation at its headquarters in Seoul, Korea. The new look is the latest in a series of strategic moves to build the company’s global image as a leading manufacturer and marketer of tires.
Prestolite Electric Holding Up for Sale
Genstar Capital has entered into a definitive agreement for the sale of Prestolite Electric Holding to an affiliate of First Atlantic Capital. Prestolite Electric is a global manufacturer of alternators and starter motors selling into high-margin, niche markets for heavy-duty, military and industrial applications.
Federal-Mogul Files Disclosure Statement in Bankruptcy Case
Federal-Mogul has filed a disclosure statement and an amended plan of reorganization with the U.S. Bankruptcy Court in Delaware. Inundated with lawsuits from people claiming exposure to asbestos from products made by companies that Federal-Mogul later bought, the company filed for bankruptcy court protection in October 2001. The company has been working on plans to emerge later this year, under the control of a trust established to handle the asbestos claims.
Delco Remy International Announces Fourth Quarter And Year End Results
Delco Remy International announced that fourth quarter 2003 Adjusted EBITDA increased 62.9 percent to $27.7 million on a net sales increase of 4.2 percent to $261 million as compared to EBITDA of $17 million and net sales of $250.5 million for the same period in the prior year.
CSK and NHRA to Educate Youth on Dangers of Street Racing
CSK Auto Inc. and the National Hot Rod Association (NHRA) have joined forces to educate America’s youth of the dangers of street racing and the benefits of racing at licensed race tracks under controlled conditions. According to the National Highway Traffic Safety Administration, motor vehicle accidents are the leading cause of death for people aged 16 to 20. CSK Funny Car drivers Del Worsham and Phil Burkart, in conjunction with local police departments, are scheduling visits to high schools throughout the country to share their professional racing experience and offer firsthand knowledge of why drivers should “Race on the Track, Never on the Street.”
Herman Trend Alert: Outsourcing, Insourcing, Resourcing, Flexsourcing
Worker-employer relationships are changing. In addition to full-time, part-time and job-sharing options, employers are developing and enhancing alternative relationships with other employers and individuals in contingent arrangements. Over the next few years, outsourcing will increase. For-profit corporations, not-for-profits, government agencies and school systems will all distribute work to outside contractors. As more small companies are formed to meet the exploding need, expect an increase in the number of outsourced service providers.
Delphi Debuts New Ad Campaign; Aims to Bring Automotive Technology to Other Markets
Delphi has debuted a new television ad campaign aimed at showing how the company is taking automotive technology to other markets. The new campaign, created by McCann Erickson’s Detroit office, depicts how Delphi technologies can be used to benefit other industries outside the automotive arena, including medical, homeland security and computers.
Bankrupt Venture Might Sell Some Assets
Bankrupt auto supplier Venture Corp. plans to put itself up for sale to see if there is any interest in the Fraser firm’s assets or business contracts, say lawyers and others familiar with the struggling company. Venture, which makes plastic parts such as instrument panels for the auto industry, has asked the U.S. Bankruptcy Court in Detroit for permission to market the company. A hearing to get approval and determine how marketing would be handled is scheduled for March 11.