New Powertrain-Focused Metaldyne Formed by Sale to MD Investors
The purchase was made under a court supervised 363 auction process. MD Investors paid approximately $40 million in cash.
DYK Automotive Acquires Keltner Enterprises; Joins Parent Company of AP Auto and Superior Automotive
The addition of Keltner Enterprises to the DYK family of automotive aftermarket companies will provide expanded opportunities in product coverage for both AP Auto and Keltner Distribution.
Metaldyne Submits Stalking Horse Bids for Most of Its Powertrain and Chassis Operations
The auctions will be held in early August.
Executive Interview: Zomar Oliveira, FRAS-LE, Director of Operations and Corporate Secretary
The most recent entry into the light-vehicle brake pad market is FRAS-LE. The company has been a player in the heavy-duty truck brake block market in North America for more than 30 years and claims more than 33 percent of the market. Heading up the launch for FRAS-LE is brake industry veteran Zomar Oliveira as the director of North American operations. For this week’s Executive Interview, Oliveira talks to aftermarketNews about FRAS-LE’s strategy for the North American market.
The Week in Review (July 20-24, 2009)
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, just click on the link that says “News Archives” at the bottom of the page to begin catching up on the latest industry news.
Retirees and Lenders Among the Hundreds Objecting to Delphi Sale
A hearing on the sale is scheduled for July 23.
Delphi Lenders Make Bid to Buy Company
The company could be acquired by JPMorgan Chase in exchange for forgiving Delphi’s debt.
Rattner Steps Down as Auto Task Force Chief
Steven Rattner, 56, was named lead adviser for the committee that would oversee reorganization efforts at General Motors and Chrysler in late February.
Proliance Files for Chapter 11 with Agreement to Sell Domestic Operations as Going Concern to Owners of Visteon Aftermarket
On July 2 the company and its U.S. subsidiaries filed voluntary petitions in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 of the U.S. Bankruptcy Code.
ArvinMeritor Divests Additional Light Vehicle Systems Chassis Business
Company sells Gabriel Ride Control Products North America business to OpenGate Capital.