Honeywell CPG Sale Complete
We kick off our look back at the week’s top news having learned that Honeywell’s sale of its Consumer Products Group (CPG) division to Rank Group is now complete. The division, which includes four leading consumer automotive brands: FRAM filters, Prestone antifreeze, Autolite spark plugs and Holts car care products, was sold in a cash transaction of $950 million. CPG reported 2010 sales of approximately $1 billion within Honeywell’s Transportation Systems segment. Rank Group, a private equity firm in New Zealand also recently acquired another aftermarket parts supplier, UCI Holdings.
Uni-Select’s Second Quarter Results
Meanwhile, in the distribution segment, Quebec-based Uni-Select has reported sales of $475 million in the second quarter of 2011, compared to $349 million in 2010. Net earnings increased to $18.5 million in the second quarter of 2011, or 85 cents per share, compared to $14.5 million, or 74 cents per share last year. Total sales from the distribution group’s American operations reached $606 million for the first half of 2011, compared to $396 million for the same period of 2010.
Washbish Opens Leadership 2.0
John Washbish, who heads up another leading distribution group, will be the will be the featured speaker during the convocation ceremony for members of the 2011-2012 University of the Aftermarket Leadership 2.0 class. Washbish, MAAP, Aftermarket Auto Parts Alliance President and CEO, is himself a graduate of Northwood University, home of the University of the Aftermarket. Session I of the industry’s signature executive development experience will take place Sept. 11-16 on Northwood University’s Midland, Mich., campus. Session II of the 2011-2012 program will take place April 15-20, 2012, on the Northwood campus in West Palm Beach, Fla. Only a handful of seats remain in the class; interested aftermarket professionals are encouraged to submit their applications as soon as possible, as each of the past four classes has sold out. Click here for more info on the program.
Handing Out Hot Wheels
Last in our recap of the week’s top news we report of some seriously hot wheels being given away this summer. First, Federated Auto Parts announced the winner of a new 2011 Camaro, given out during the Federated 300 Nationwide race held July 23 at the Nashville Superspeedway. Federated customer Jeff Crissman, who works at Frank’s Coach and Carriage in Broadview Heights, Ohio, was the contest winner in the Federated Camaro giveaway held as part of the pre-race hospitality events associated with the annual Federated 300. In all, more than 1,200 people attended the race as guests of Federated.
It’s not too late to have a sporty new ride of your own, however. Simply visit the Bosch Facebook page and enter the new Bosch Iridium Edition Mustang RTR Sweepstakes, in which the grand prize is a one-of-a-kind 2011 Ford Mustang RTR custom-built by drifting champion Vaughn Gittin Jr. and powered by new-generation Bosch Iridium Spark Plugs. Everyone with a Facebook account is invited to enter this sweepstakes online through Bosch’s Facebook page www.facebook.com/boschautoparts. A simple entry form is available, along with full details on both the sweepstakes and the Grand Prize Mustang RTR. No purchase is necessary to enter. A winner will be drawn from all entries submitted and will receive transportation for two to Las Vegas, a two-night hotel stay and admission to the Automotive Aftermarket Products Expo (AAPEX), where the grand prize vehicle will be on display and presented to the lucky winner on Wednesday, Nov. 2.
