AISIN Unveils New Look and Slogan
Aisin World Corp. of America, Inc. (AWA) unveiled a new graphic identity and slogan. The changes come as the company celebrates its 40th anniversary beginning this month.
Car Suppliers Determined to Pass on Costs
Caught between a rock and a hard place, automotive suppliers say they are determined to pass on steep rises in raw material costs to their customers even as carmakers step up pressure for lower manufacturing costs.
Aftermarket Financial Symposium: Day Two
Day two of the Aftermarket Financial Symposium in Chicago was underway on Thursday with lessons of growth, health and an optimistic view from Wall Street.
Lex Logistics Awarded Hyundai Parts Contract
Lex Logistics has secured a new long-term contract with Hyundai Motor Company UK for parts supply to the aftermarket.
Analysts Show Optimism For Visteon, Delphi Up
Even as Delphi Corp. threatens bankruptcy and rival Visteon Corp. prepares to shed 24 plants and thousands of jobs, a few Wall Street analysts have turned cautiously optimistic on the future for the auto-parts suppliers.
SmarTire Announces New VP Sales and Marketing
SmarTire Systems Inc. announced that it has recruited David Warkentin as its new vice president of sales and marketing.
Executive Interview with Duane Miller, Executive Director of GM Service and Parts business channels – GM Service and Parts Operations (SPO)
This Executive Interview features Duane Miller, who is the Executive Director of GM’s Service and Parts business channels (GM Service and Parts Operations [SPO]). Miller was appointed to his position back in April 2005. He took time from his busy schedule to discuss with AftermarketNews.com his new responsibilities, the outlook of ACDelco going forward and how “Real Car Guys” know ACDelco.
Genuine Parts Company Reports Record Sales and Earnings for Second Quarter and First Half of 2005
Genuine Parts Company reported record sales and earnings for the second quarter and six months ended June 30, 2005. Tom Gallagher, chairman, president and chief executive officer, announced that sales totaling $2.5 billion were up 8 percent compared to the second quarter of 2004. Net income was $111.0 million, an increase of 10 percent, compared to $101.1 million for the second quarter of 2004. On a per share diluted basis, net income was 63 cents, up 9 percent compared to 58 cents for the second quarter last year.
Stanley Works Provides Supplemental Information About Offer for Facom Tools
The Stanley Works announced that it has made a firm offer to purchase Facom Tools from Fimalac for approximately $494 million in cash. Facom Tools, with 2004 sales of euro 370 million ($445 million) and LTM (last twelve months) operating profit of approximately 12 percent, includes the professional tool brands Facom, Usag (Italy) and Virax (plumbing tools), among others. The proposed transaction is subject to certain regulatory approvals and other customary conditions, including consultation with Facom’s labor representatives, which must be completed prior to the acceptance of the offer by Fimalac. Assuming successful completion of this process, closing is expected to occur by year-end 2005 or shortly thereafter.
Car Makers Cut Free Maintenance
In an effort to trim costs, car makers are eliminating their free-maintenance programs — a move that could cost drivers thousands of dollars in additional upkeep over the life of a vehicle. Now, however, a growing number of manufacturers — including some of the same brands that kicked off the free-maintenance movement more than a decade ago — are requiring new customers to pay for maintenance services like oil changes, tire rotations and other routine tasks that used to be free.