The Week in Review offers a snapshot of the most 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, click on any of the dates listed at the bottom of the page to begin catching up on the latest industry news.
Big news out of Rochester, NY generated a lot of reader attention this week on aftermarketNews (AMN). Hahn Automotive Warehouse announced that it will acquire Prime Automotive Parts Co. The deal is expected to close on or about Oct. 1.
In other acquisition news, Uni-Select has entered into an agreement for the purchase of the assets of Consumer Auto Parts, Inc., an automotive replacement parts distributor and operator of 23 points of sale. The acquired business will become part of the northeast division of Automotive Group USA and is expected to add annual sales of $41 million to the company.
Every week, the AMN audience tends to take an interest in financial and personnel news, so it’s no surprise that Genuine Parts Co.’s dual announcement of a regular quarterly dividend and officer changes gained a lot of reader attention. The company declared a regular quarterly cash dividend of thirty-six and one half cents ($0.365) per share on GPC’s common stock. The company also announced the election of Paul Donahue to the position of executive vice president and Charles Chesnutt to the position of senior vice president, technology and process improvement.
Staying true to reader trends, Pep Boys’ report of its second quarter results generated a lot of AMN web-page views this week. Sales were $558,889,000 as compared to the $578,565,000 for the thirteen weeks ended July 29, 2006 . Comparable sales decreased 3.6 percent, including a 5.1 percent comparable merchandise sales decrease and a 3.8 percent comparable service revenue increase.
News out of China certainly has been making headlines lately, so it’s no surprise that the announcement of Chery producing its one millionth car, rounds out the top five most highly read AMN stories this week. The 10-year-old Chery made its first million cars within seven years and nine months, the company said. It took Chery about six years to make its first half million cars and only one year and a half to complete the second half million.
To view all of the news from the past week, simply click on the link for each corresponding day:
