Executive Interview with Terry McCormack, President, Dana Automotive Aftermarket Group (AAG)
Our latest edition of “Executive Interview” features Terry McCormack, president of Dana Automotive Aftermarket Group (AAG). McCormack talked to aftermarketNews.com about the recent news that Dana will divest its aftermarket group. He shared details of the announcement as well as his insights on what this major change means for the company and the division.
Prestolite Electric Sells UK Facility
Prestolite Electric Holding, has sold the Acton (London, England) manufacturing facility of Prestolite Electric Limited, the company’s UK subsidiary. Prestolite sold the subsidiary to Lemon Land Limited for approximately $47 million. The Acton facility had a book value of $9 million. In connection with the purchase, Prestolite retained the right to occupy the facility through the end of 2004.
Tenneco Automotive Expands ‘Expert Plus’ Rewards Program
Tenneco Automotive’s Monroe shocks and struts and Walker exhaust brands have expanded the Expert Plus automotive service promotions and technician rewards program for 2004. Expert Plus is a comprehensive offering of national trade and consumer promotions, marketing materials, merchandising tools and installation incentives for automotive repair facilities and professional technicians. The program attracted more than 20,000 members in 2003.
UAP Announces Senior Executive Appointments
Larry Samuelson, CEO of UAP Inc., has announced four senior executive appointments. Robert Hattem has accepted the position of president and COO of UAP Inc. Terrence LeBlanc has been named executive vice president of the auto parts division. Pierre Vocelle has accepted the position of regional vice president of auto parts for Quebec and Scott LeProhon has been appointed senior vice president of special marketing projects.
Kayaba to Expand Global Manufacturing Operations
Next month, Kayaba Industry Co., Ltd. (KYB) will acquire a 75 percent shareholding in AP Amortiguadores SA (APA) currently held by ArvinMeritor. In the U.S., Kayaba is set to expand its manufacturing base at Franklin, Ind, to support growing sales of KYB shocks and struts to the North American aftermarket.
Michelin North America and ACCC Sign Three-Year Contract Extension
Michelin North America has extended its partnership with American Car Care Centers (ACCC), signing a three-year contract extension to supply the independent dealer network with Michelin, BFGoodrich, Uniroyal and private and associate brand tires. This new agreement extends a strategic partnership between the two companies which began in 1993. ACCC is one of the largest networks of independent tire and automotive service dealers, with more than 1100 locations nationwide.
New Tire May Put Goodyear on Track
It’s a mystery tire that’s making a lot of tire dealers, analysts and investors excited — and seems to be pushing the stock upward. Goodyear Tire & Rubber plans to launch a new high-end line of passenger tires next month with huge fanfare at its annual convention of dealers and distributors in Orlando, Fla. Some say the tire line, known as Assurance, could become Goodyear’s hottest-selling new line in a decade, a move that could go a long way to helping the Akron, Ohio-based company boost its flagging sales and turn around three years of losses.
R. L. Polk & Co. Establishes Commercial Vehicle Advisory Board
R. L. Polk & Co. has announced the formation of its first-ever commercial vehicle advisory board. This new board is charged with advising Polk on its strategic position in the commercial vehicle sector, product offerings, providing input on marketing communication strategies and supporting Polk’s commercial vehicle sales team in growing customer relationships.
Dana AAG Expands Relationship with NASCAR
Dana’s Automotive Aftermarket Group (AAG) has renewed its partnerships with NASCAR in anticipation of the 2004 NASCAR NEXTEL Cup Series. Dana aftermarket products such as WIX filters, Raybestos brakes and Clevite Engine Parts are part of the exclusive lineup of NASCAR Performance products.
More Details on the Future of Honeywell’s Friction Materials Business
Yesterday, Honeywell announced that it had terminated discussions with Federal Mogul regarding the possible sale of its friction materials business, which manufactures and markets the well-known aftermarket brand Bendix. After several months of negotiations, the parties were unable to agree on terms of a deal. Now Honeywell has reported that the friction materials division will remain part of Honeywell and will become closely aligned with the company’s business initiatives and operating plan. According to Joe Puishys, president of Honeywell friction materials, the company is in the process of making investments in both the aftermarket and OE segments of the business.