Quick Hits …
(A few short items to get us started this week)
• From Service Executive … ASA president and executive director Dan Risley is resigning. He has accepted a position with CCC Information Services. Risley will stay on in a consultant capacity until a new association leader is named. During the transition, ASA’s current CPA, Beth Risch, will serve as interim chief operating officer.
• From Service Executive … Leaders of ASA-Midwest (the second largest ASA affiliate) have voted unanimously to disaffiliate with ASA National and form an independent regional association, the Midwest Auto Care Alliance. Meanwhile, ASA National will go forward with a restructured ASA Midwest affiliate; however, Arkansas and Oklahoma will no longer be a part of ASA Midwest, with Iowa, Kansas, Missouri and Nebraska remaining.
• Tim MacDonald, president and CEO of the Ideal Supply Co. (Listowel, Ontario), has received the Order of Canada, one of the country’s highest civilian honors. Ideal Supply is a wholesale distributor of automotive, electrical and industrial products. Its automotive operations do business under the NAPA Auto Parts banner.
• Nexus Automotive International is increasing its activity in China with two new projects: the N! Academy shop training program, which will be done in partnership with the Chinese aftermarket association CASCA; and the NexusAuto repair shop concept, which has already been introduced in several European countries.
Network Touts New Relationship With Federal-Mogul
The Automotive Distribution Network has announced Federal-Mogul Motorparts as a strategic partner across all available product categories. “This new relationship enables the Network’s growing membership to maximize sales and marketing opportunities with the manufacturer across the board, while offering a greater array of premium-branded auto parts to expanding markets throughout the United States, Canada, Mexico and Guatemala,” said Network president David Prater.
“Additionally, the Network is better positioned to take advantage of Federal-Mogul Motorparts’ successful Garage Gurus ‘Tech First’ training initiative,” Prater said, “providing technicians with the latest tools and information, so that they can keep pace with emerging vehicle technologies onsite, online and on-demand.”
Advance Auto Expanding Its Office Space In Raleigh
Advance Auto Parts has leased two floors in the Duke Energy building in downtown Raleigh, NC — just over 38,000 square feet. The marketing and Raleigh-based IT teams are scheduled to move into this additional space later this summer. All other corporate departments will remain in their current locations in the company’s Roanoke, VA headquarters and existing Raleigh office.
Advance decided to expand because it had maxed out its existing space in Raleigh, according to Kevin Nash, Advance’s vice president of communications. “Just as downtown Raleigh continues its evolution and growth, Advance continues to enhance and evolve our business to meet the needs of our customers, and this new space will help ensure those efforts continue,” Nash said.
Craig Barnes Now VP Of Merchandising At Advance
Craig Barnes has joined Advance Auto Parts as its vice president of merchandising. Barnes has worked for Delphi Product & Service Solutions as vice president – global independent aftermarket. He also has served in executive merchandising management roles for Carquest and AutoZone.
Most recently, Barnes worked for Fred’s Inc. — a Southeastern chain of general merchandise and pharmacy stores — in supply chain, merchandising, sourcing and other roles.
The Alliance Appoints Business Intelligence Manager
The Aftermarket Auto Parts Alliance has promoted Ethan Love to business intelligence manager. In this capacity, Love joins the Alliance’s information technology team, overseeing mobile and desktop business intelligence technology efforts. He reports directly to Dale Hopkins, vice president and chief information officer. Love, who joined the Alliance in 2014, was a category analyst.
New Logo, Domain Name For APA
Automotive Parts Associates (APA) has begun the process of transitioning to a new identity across all communications platforms with a new logo and a new domain name, APA.parts. This is part of a larger initiative intended to differentiate and establish the program group’s branding and identity as a separate entity, rather than using the Professionals’ Choice Auto Parts private-label brand to represent the group as a whole.
APA is a member-owned cooperative made up of over 70 shareholders of independent auto parts distributors with 400-plus warehouse and company-store locations throughout North America.
Midtronics Sells Stationary Power Unit, To Focus On Transportation Markets
Willowbrook, IL-based Midtronics Inc. has sold its Stationary Power Division (SPD) to the Franklin Electric Co., a producer and marketer of systems and components for the movement of water and fuel. SPD will be combined with the existing Grid Solutions business of Franklin Fueling Systems. In its fiscal year 2017, SPD had roughly $8 million in annual sales.
Financial terms of the transaction were not disclosed.
“The divestiture of the Stationary Power Division enables us to focus on strategic innovation and solutions development in the rapidly changing transportation marketplace,” Midtronics president and CEO Steve McShane said in an announcement dated July 2. “Going forward, we will devote our resources to grow our business in electric and hybrid vehicles, connectivity, data analytics, and autonomous vehicles, as well as new battery technologies and applications.”
Bosch Wins ‘Best In Show’ At ISN Tool Dealer Expo
According to event organizers, more than 170 vendors took part in the Integrated Supply Network’s 16th annual Tool Dealer Expo, which took place June 29-30 in Orlando. Roughly 2,500 people attended the event, according to ISN. Bosch took home the expo’s “Best In Show” award. Other award winners included …
• Best New Vendor: FLIR;
• Best New Product: Milwaukee;
• Booth Spirit: Power Probe Tek;
• Best Product Demo: SigmaVision;
• Largest Percentage Growth (Large): Clore Automotive;
• Largest Percentage Growth (Medium): Homak;
• Most Orders Written (Large): Milwaukee;
• Most Orders Written (Medium): NOCO;
• Highest Sales Volume (Large): Bosch; and
• Highest Sales Volume (Medium): NOCO.
Next year’s Tool Dealer Expo is scheduled for June 28-29 at the Rosen Shingle Creek Golf Resort & Spa in Orlando.
Auveco Expanding Into Mechanical Aftermarket
Cold Spring, KY-based Auveco, a seller of specialty fasteners and body hardware to the automotive aftermarket, has acquired Marli Manufacturing of Binghamton, NY, which specializes in a variety of automotive aftermarket mechanical components, including engine head bolts, intake manifold bolts, oil drain plugs and oil drain gaskets. Financial terms of the transaction were not disclosed. The purchase marks Auveco’s expansion into the mechanical aftermarket.
For Auveco, the addition of Marli means an expanded product portfolio; an accelerated investment in new product development and support personnel; and improved tools like FasTrack Web cost recovery, an interactive online catalog and various in-print resources.
According to an announcement dated June 27, management expects Auveco to pursue additional organic and inorganic growth opportunities through various product line expansions.
RepairPal Promotes Jill Trotta To VP
RepairPal has promoted Jill Trotta to vice president of industry advocacy and sales. She now leads the sales team at RepairPal and is a member of the executive team. Trotta also continues to take a lead role in outreach to the automotive industry on RepairPal’s behalf.
An ASE-certified technician with more than 25 years of automotive experience, Trotta joined RepairPal in 2013 and was most recently senior director of industry advocacy and sales. Women in Auto Care named Trotta its “Auto Care Woman of Excellence” in 2017.
Tenneco To Exit Chicago Exchange, Remain On NYSE
Tenneco Inc. plans to withdraw the listing of its common stock from the Chicago Stock Exchange, citing limited trading of its stock on the exchange as well as the ability to reduce the administrative costs inherent with dual listings. Tenneco’s common stock will continue to be listed on the New York Stock Exchange (NYSE).
Management does not believe that withdrawing Tenneco’s listing from the Chicago Stock Exchange will have any impact on the liquidity of the company’s stock. The withdrawal is expected to become effective around July 23.
Bacharach Inc. Purchases Neutronics
New Kensington, PA-based Bacharach Inc., a provider of HVAC-R gas instrumentation and energy management technology, has acquired Neutronics Inc., a provider of refrigerant and gas analyzers serving the automotive and commercial HVAC markets, among others. Financial terms of the private transaction were not disclosed.
“Neutronics is the established leader in refrigerant identifiers for the global automotive and HVAC-R industries and has complementary non-dispersive infrared (NDIR) sensor technology in its instruments, which are designed and manufactured in its Exton, PA facility,” said Doug Keeports, CEO of Bacharach. “This acquisition aligns well with Bacharach’s strategic plan and strong focus on growing our market leadership in instrumentation and refrigerant monitoring, as well as complements Bacharach’s expertise and strengths in the combustion and emissions analysis markets.”
Neutronics will continue to carry its existing brand. It will operate under the leadership of Gary Halpern, president, and David Halpern, chief operating officer. And, Neutronics will operate as a wholly owned subsidiary of Bacharach.
Swedish Wholesaler Buys Hella’s Danish, Polish Wholesale Companies
Automotive lighting and electronics supplier Hella GmbH & Co. is selling its Danish and Polish wholesale companies, FTZ Autodele & Verktoj and Inter-Team, to the Swedish wholesaler Mekonomen AB. The purchase price amounts to roughly $465 million on a cash and debt-free basis. In addition, a consideration equivalent to profits generated from Nov. 30, 2017 to completion of the transaction will be paid to Hella.
The sale, which is subject to approval from antitrust authorities, is expected to close in the third quarter.
“Through the acquisition of FTZ and Inter-Team, we strengthen our position as a leading automotive spare parts distributor in the Nordic region and take the step into Europe,” said Mekonomen president and CEO Pehr Oscarson. “The acquisition is in line with our strategy of playing a central role in the ongoing consolidation in Europe. These are two well-run companies that will continue to develop within the framework of existing corporate structures and brands as standalone companies in the group.”
FTZ and Inter-Team employ approximately 2,500 people. The two wholesalers achieved total sales of around $565 million in the 2016/2017 financial year. This corresponds to about 7 percent of Hella’s consolidated sales.
“With Mekonomen, a renowned wholesaler will take over our activities in Denmark and Poland, which will strategically develop the business,” said Werner Benade, managing director responsible for Hella’s aftermarket and special applications segment. “We will systematically focus the aftermarket segment on the independent spare parts business and innovative workshop equipment. As part of this, we are accelerating the interaction between the divisions and opening up digital business models.”
Jefferies was a financial advisor on the transaction.
Exedy To Distribute Dodson Components In Europe
Exedy Clutch Europe has announced a sales partnership agreement with New Zealand company Dodson Motorsport calling for Exedy to distribute Dodson high-performance transmission components into 53 countries in Europe and adjacent markets. Under the agreement, Exedy and Dodson will fund a team of automotive transmission salespeople to sell to Exedy’s existing customer base, as well as to develop new business opportunities for both companies.
According to Exedy, it already has an initial stock of Dodson products in its warehouses, ready to supply dealers and performance shops throughout its European network.
“We will train Exedy’s sales team so they can handle day-to-day product inquiries and meet with customers throughout Europe,” said Dodson general manager Steven Parker. “And, Exedy Europe holding good inventory will improve the speed and ease of delivery of components to dealerships and customers.”
Dodson makes high-output dual clutch and transmission components for use in a wide range of high-performance vehicles, including those made by Porsche, Lamborghini, BMW, Volkswagen and Nissan, to name a few.
XDP Opens Larger East Coast Warehouse
Xtreme Diesel Performance (XDP) has expanded its East Coast distribution operations with the opening of a new, larger warehouse in Lakewood, NJ — one that management says allows for an 85-percent increase in daily shipping volume. In addition, the facility houses XDP MFG, the company’s manufacturing division. The new manufacturing area includes space for additional CNC equipment and quality control personnel.
Founded in 2003, Wall Township, NJ-based XDP is a large supplier of diesel performance products across North America. The company operates DCs in both New Jersey and Nevada.
Hedges & Co. Hosting Auto Parts, Accessories Website SEO Webinar
Hedges & Co., a digital marketing agency in Hudson, OH, will host a free webinar from 2:00 pm to 3:00 pm (EDT), Wednesday, July 25 on search engine optimization (SEO). The presentation is designed specifically for automotive parts and accessory websites.
The webinar — part one in a two-part series — will cover topics relevant to retailers selling aftermarket parts, as well as manufacturers even if their sites don’t sell directly to consumers. This webinar is for beginners as well as advanced online marketers, according to Hedges. To register, visit https://goo.gl/7Wj5a6.
The second webinar in the series will be presented in another month and will cover site content.
Hedges & Co. is a full-service digital marketing agency serving the OEM and aftermarket parts industries since 2004. Its automotive digital marketing capabilities include automotive SEO and paid search, email marketing, automotive market research, and mailing lists.
Al Gaspar Memorial Fund Established
The Auto Care Association has established a memorial fund in honor of its former president and CEO, the late Al Gaspar, who died Nov. 25. Donations made to the University of the Aftermarket Foundation in Gaspar’s memory will be used to fund scholarships and industry educational initiatives.
“We couldn’t imagine a better way to honor the legacy of a leader who meant so much, not only to the history of our association, but also our industry,” said Bill Hanvey, president and CEO of the association. “Al’s vision has progressed our industry in countless ways, and we have all benefitted from his passion and foresight of what our association and industry can be.”
Gaspar was the president and CEO of the Automotive Aftermarket Industry Association (AAIA), the precursor to the Auto Care Association, from 2000-‘04. He spent over 40 years in the auto care industry, serving as president of the Automotive Parts & Accessories Association (APAA) for five years prior to joining AAIA. His career also included time as the executive vice president at the McKay Chemical Co., a division of Blue Coral; vice president of consumer sales for the Wynn Oil Co.; and vice president of sales and marketing worldwide operations for Bardahl Manufacturing.
“Al Gaspar was committed to industry education as evidenced by his time at AAIA, so it is fitting that donations made in his name will help educate the next generation of aftermarket leaders,” said Bob Egan, chairman of the foundation. “We thank the Auto Care Association for launching this effort and encourage others to follow their lead by making a donation in memory of Al Gaspar.”
To make an online donation to the University of the Aftermarket Foundation in memory of Gaspar, visit UofAFoundation.com. Or, send a check made payable to the University of the Aftermarket Foundation to 7101 Wisconsin Ave., Suite 1300, Bethesda, MD 20814 and indicate that the donation is in Gaspar’s memory.
CARB Gains Six Aftermarket Division Employees
California has approved the addition of six staffers to the aftermarket division of the California Air Resources Board (CARB). The change was made in a provision to the state’s new budget, which also includes about $960,000 annually for the division.
The division, which currently employs 13 staff members, is responsible for approving executive orders (EOs) for aftermarket auto parts that impact emissions. The changes should help alleviate a serious bottleneck when it comes to processing the orders in a timely manner, according to Christian Robinson, SEMA’s state government affairs director.
“Under both federal and California law, it is illegal to knowingly market a product that takes a highway vehicle out of emissions compliance,” Robinson said. “The best way to ensure a part is compliant with the law is to obtain an EO from the California Air Resources Board, which effectively allows you to sell your product in each state.”
SEMA — which helps with submitting EO applications for review and approval through the SEMA Garage — worked with California lawmakers and CARB officials on the changes.
The Auto Care Association and CAWA also look forward to a speedier process.
“Aftermarket manufacturers that need an EO sometimes need to wait quite some time to obtain approval to sell a part that is not a direct replacement part,” said Aaron Lowe, senior vice president of regulatory and government affairs for the Auto Care Association. “Also, companies that sell aftermarket converters need to obtain EOs to sell in the state.”
Schrader’s Jacki Lutz Takes Over As ACC President
Jacki Lutz, head of global marketing and communications with Schrader Performance Sensors, is now president of the Automotive Communications Council (ACC). Lutz has been active in ACC for four years and was involved on the events committee before serving on the board the past two years.
Georgianne Dickey, senior manager of product and marketing communications at NTN Bearing, is now the vice president of ACC. Dickey, who has been a member of ACC for nine years, has been a member of the board for seven years.
Meagan Moody, marketing communications manager for ZF Aftermarket, is now immediate past president. Moody spent the last two years as ACC’s president.
They are joined by the following directors on ACC’s board of governors …
• Jim Merle of Babcox Media;
• Jake Spencer of Barolin & Spencer;
• Jennifer Holland of ASE;
• Abby Harding of Remington Industries;
• Monika LaPrete of CRP Industries; and
• Sarah Longardner of Mann+Hummel.
MEMA Opposes Use Of Tariffs To Address IP Issues, Warns Of Job Losses
In comments submitted June 29 to the U.S. Department of Commerce, MEMA strongly opposes broad, unilateral and import-restrictive measures — such as tariffs, quotas or other adjustments — on imported automobiles or motor vehicle parts being explored by the department as directed by the Trump administration. MEMA urged the Commerce Department to remove motor vehicle parts from the scope of its investigation and to not recommend any adjustments to imported parts.
“MEMA remains very concerned that the pattern of recent actions from the administration signal that tariffs are one of several tactics that would be considered and imposed,” MEMA’s statement reads. “Counterproductive unilateral actions will place manufacturers at a competitive disadvantage to their global counterparts, erode U.S. jobs and growth, and will not protect the national security of the United States. Such actions would weaken our nation’s economy by harming U.S. manufacturers of vehicles and vehicle parts, and would deter U.S. investments in new innovative technologies.”
According to MEMA, tariffs will jeopardize 871,000 parts manufacturing jobs in the United States.
MEMA urges the administration to pursue alternative ways to forge more positive trade relationships with U.S. trading partners, while allowing U.S. businesses to operate freely in the global marketplace.
On July 10, the U.S. Trade Representative announced that it will begin an investigation into the imposition of 10-percent tariffs on an additional $200 billion of Chinese imports, including auto parts, in an attempt to address certain unfair practices, including intellectual property issues. This follows the imposition earlier this month of tariffs of 25 percent on various Chinese imports and China’s imposition of retaliatory tariffs against some U.S. goods.
MEMA on July 11 issued a statement saying that the association opposes using tariffs to curb intellectual property (IP) theft, and believes that the current, continued and expected retaliatory tariffs could negate the Trump administration’s recent successful work on behalf of American companies, such as tax reform.
“The protection of intellectual property is a critical issue for MEMA and its members … However, MEMA fears that escalating this back-and-forth with a major trade partner will not resolve the issue at hand,” the statement reads. “Intellectual property rights (IPR) protection is critical to the sustained success of the motor vehicle parts manufacturing industry, the largest sector of manufacturing jobs in the United States.”
“Strong IPR protections are needed to encourage companies to support important research and development investment, and to foster innovation, as IPR owners are provided certainty that their inventions and technological advancements will be safe from infringers,” the association states. “But, these tariffs are taxes that hurt U.S. companies, put jobs at risk and negatively impact consumers.”
MEMA advocates stronger bi-lateral engagement where China and the United States work together to protect the IP of its members, or leveraging the relationships the United States has with other trading partners to pressure China to enforce its own IP laws and to comply with international IP laws and regulations.
100,000+ Industry Jobs At Risk Due To Tariffs
Says Association-Backed Study
The Auto Care Association on June 29 urged the Trump administration to consider the unintended consequences that may ensue by imposing tariffs on imported autos and auto parts. In comments submitted to the U.S. Department of Commerce, the association stated that “the availability of affordable high-quality parts from foreign sources creates thousands of jobs that might be threatened should the Trump administration move forward with a tariff on vehicles and vehicle parts.”
Included in the comments was a recent economic study completed for the association by John Dunham & Associates that found that a 25-percent tariff on imported auto parts could cause a reduction of 17,800 jobs in the auto parts manufacturing sector, resulting in $1.40 billion in lost wages. The study further predicts that 6,800 jobs would be lost by vehicle repair shops and an additional 85,200 jobs in the auto care wholesale and retail segment, attributable to lower demand.
According to the Auto Care Association, imposing additional tariffs on auto parts and components would increase their price substantially, making it more difficult for Americans to afford a new car or the cost of repairing the vehicles they currently own. The study estimates that the cost of car ownership would increase by more than $700 per year per household should the tariffs be imposed.
In its comments to the Commerce Department, the association recommends that the Trump administration refrain from trade restrictions that would undermine the auto industry and, instead, “seek solutions that protect U.S. investments, facilitate trade and create competitive value chains that benefit the global growth of our industry.”
Vipar Heavy Duty Launches Product Advisory Councils
Vipar Heavy Duty has launched product advisory councils for the United States and Canada, composed of stockholders who meet regularly with Vipar’s program management team to discuss existing supplier programs and new program opportunities. The councils were developed to refine supplier programs, taking into account stockholders’ local-market conditions.
Virtual council meetings will take place each month, with in-person meetings scheduled during the Vipar Heavy Duty Annual Business Conference in October.
Bendix CVS Appoints Supply Chain VP
Bendix Commercial Vehicle Systems (Elyria, OH) has appointed Mike Pogorelc as its vice president of supply chain excellence. A Bendix veteran of 28 years, Pogorelc was plant manager for the company’s Huntington, IN operations and interim managing director for KB India, part of the Knorr-Bremse Group, which is Bendix’s parent company. In his new role, Pogorelc will be based in Huntington.
Cummins To Buy Electric/Hybrid Powertrain Outfit
Cummins Inc. is acquiring California-based Efficient Drivetrains Inc. (EDI), which designs and produces hybrid and fully-electric power solutions for commercial markets. Financial terms of the deal were not disclosed. EDI is seen as broadening Cummins’ electrification expertise and products. According to Cummins, EDI’s hybrid system is able to switch, in real time, between fully electric, series and parallel modes. Closing of the EDI acquisition —which is subject to customary conditions — is expected in the third quarter.
Alltech Automotive LLC, a dynamic global automotive supplier, is seeking a National Sales Manager to represent products it sells into the Automotive Aftermarket. … (more) … Click here to find out more.
The Regional Sales Manager is a dedicated position, concentrating on leading and generating sales/awareness and support of new products, new programs and updates to the Alltech customer base. … (more) … Click here to find out more.
Spectra Premium Industries, a leading North American Auto Parts Manufacturer, is seeking a highly qualified Regional Sales Manager to manage aftermarket parts sales throughout the Southwest United States. … (more) … Click here to find out more.
Proven investor with over 30 years of experience supporting entrepreneurs is interested in acquiring minority interest in successful, growing, entrepreneur-backed companies. Over 40 successful partnerships. Outstanding track record. Strong references from prior investment partners. Maintain control while also receiving substantial cash for partial buy-out. Diversify your holding and earn substantial potential upside in future years. … (more) … Click here to find out more.
Responsible for multiple customers within a sales channel as part of the sales organization, programs and budgets for multi-brand automotive and motorcycle filtration and accessory parts manufacturer and distributor. … (more) … Click here to find out more.
Osram Continental Joint Venture Begins Operations
On July 2, the Osram Continental GmbH joint venture began actively doing business. The alliance focuses on intelligent lighting technology for the automotive market. The initial products from the joint venture are expected to be ready for series production by 2021.
Based in Munich, Germany, Osram Continental initially employs around 1,500 people across 16 locations worldwide. Management plans to move the company’s headquarters to Garching, Germany within the next year.
Exide, Leclanché Forge Lithium-Ion Batteries J-V
Exide Industries Ltd., which is billed as India’s largest manufacturer of lead acid storage batteries and power storage solutions provider, has formed a joint venture with Leclanché SA, a global energy storage solutions company based in Switzerland, to build lithium-ion batteries and provide energy storage systems for India’s electric vehicle market and grid-based applications.
Exide brings its sales network and brand to the alliance, while Leclanché brings expertise and intellectual property for lithium-ion cells, modules and battery management systems. Exide — which is committed to setting up large-scale manufacturing of lithium-ion batteries — will be the majority shareholder, with Leclanché the strategic minority shareholder of the joint venture.
The joint venture’s production facility will be in Gujarat. A module and battery pack assembly line is expected to be operational by the second quarter of 2019, with lithium-ion cell production expected to be in operation by mid-2020. In the intervening period, cells will be sourced from a Leclanché plant in Germany.
People Watching 7/12/18
• Tim MacDonald, president and CEO of the Ideal Supply Co. (Listowel, Ontario), has received the Order of Canada award from Julie Payette, governor general of Canada, in recognition of “his leadership in business and community initiatives in southwestern Ontario, which have contributed to the economic and social vitality of the region.” The Order of Canada is one of the country’s highest civilian honors. Ideal Supply is a wholesale distributor of automotive, electrical and industrial products. Its automotive operations do business under the NAPA Auto Parts banner.
• Michael Rukov, a senior executive account manager with RepWorks Marketing, has been elected 2019 secretary to the board of directors at CAWA. Rukov co-founded the Auto Care Association’s Young Auto Care Network Group (YANG) and is the current chairman emeritus of the YANG Advisory Council and chair of the Auto Care Association’s Education Committee.
• ITW Evercoat has named James Cooley as its director of U.S. sales, responsible for leading the U.S. sales organization for Auto Magic professional car care products and Evercoat collision repair products.
• Steve Swanson is now national sales manager for the Styled Wheels business of The Carlstar Group (Franklin, TN), a manufacturer of OE and aftermarket specialty tires and wheels. In this capacity, his work will concentrate on the Cragar, Black Rock and Unique brands. Prior to joining Carlstar, Swanson was the business development sales manager for Mishimoto.
• Superior Industries International executive vice president and CFO Nadeem Moiz will resign July 20 for “personal reasons,” according to the company. Superior has launched a search for a new finance chief. Southfield, MI-based Superior is a supplier of aluminum wheels to OEMs and the aftermarket.
• This summer, the Aftermarket Auto Parts Alliance is hosting two interns from Northwood University at its headquarters. Nathan Powers and Brooke Regalado also will be the Northwood University “team captains” at the 2018 Aftermarket Jackpot Convention during AAPEX this fall. There, they will manage and lead a team of more than 15 other Northwood students and help the Alliance team on-site with convention activities.
News Briefs 7/12/18
• Nexus Automotive International is increasing its activity in China with two new projects: the N! Academy shop training program, which will be done in partnership with the Chinese aftermarket association CASCA; and the NexusAuto repair shop concept, which has already been introduced in several European countries.
• Federal-Mogul Motorparts has awarded $2,500 tuition scholarships to 12 students on behalf of its Garage Gurus technical education network. Recipients are students enrolled in accredited post-secondary automotive technology schools. This is the fourth year of the program. The company has handed out $120,000 in tuition support to future automotive service professionals over that time.
• JohnDow Industries (Barberton, OH), a supplier and distributor of aftermarket equipment and products, has launched a new branding campaign that includes a revamped website, as well as new product and catalog branding. The goal is to align all of the company’s branding with a renewed focus on the JohnDow name.
• Beck/Arnley has launched a new app for iOS and Android devices.
• US Convertors and Warren Distribution have selected Evokat Premier from Illumaware for their ACES and PIES data.
• Ailman Brake Parts, BPS Automotive and Centric Parts have joined ShowMeTheParts.
• Heavy Duty Transaxle (Monroe, WA) is now a Master Service Partner of AxleTech axles and service parts.
• Raybestos will award a custom-built 1953 Chevrolet pickup to one auto care industry repair or parts professional during AAPEX in Las Vegas. For more information, visit raybestos.com/winme.
Financial Briefs 7/12/18
• Visteon Corp. has joined the S&P MidCap 400.
• Fortive Corp. will receive roughly $1.34 billion from a recent underwritten public offering of 5.0 percent mandatory convertible preferred stock “Series A.” Fortive, parent company to Matco Tools among others, intends to use the proceeds to fund acquisition activities, as well as for general corporate purposes, including repayment of debt, working capital and capital expenditures.
• The PACCAR board of directors has approved the repurchase of an additional $300 million of its outstanding common stock. The company recently completed its previously authorized $300-million share repurchase program.
Event & Trade Show Briefs 7/12/18
• The Automotive Aftermarket Charitable Foundation (AACF) Bob Schoeberl Memorial Golf Tournament is changing venues this year, moving to the Spanish Trail Country Club of Las Vegas, a 27-hole championship golf course and former home of the Las Vegas Open. Early registration is now open for the event, which will take place Monday, Oct. 29.
• An Advanced Driver-Assistance Systems (ADAS) forum will take place Nov. 1 at AAPEX. It will address retrofitting vehicles with ADAS technology and the potential for new business opportunities. The ADAS forum is part of AAPEXedu. Click here for more information.
• This year’s SEMA Young Guns regional program will help 14 up-and-coming builders — up from six builders in 2017 — jump-start their careers with a trip to the SEMA Show to compete in the SEMA Battle of the Builders. Young Guns is an initiative designed to build excitement and involvement among younger builders. SEMA’s partners this year are AutoCon, Bonnier and Goodguys. For more information, visit semashow.com/botb.
• The SEMA Young Executives Network (YEN) on July 20 will host a meetup for local industry professionals under the age of 40 at the Evergreen Speedway in Monroe, WA in conjunction with the Formula Drift Round 5: Throwdown. Click here for more information.
• The Automotive Service Association’s July 18 “Wednesday Webinar” will feature Bob Redding, who represents ASA’s interests in Washington, DC. He will discuss various legislative issues and what they mean for repair shops. Click here to register for the webinar.
• 25 commercial truck professionals are taking part in the University of the Aftermarket’s Heavy Duty Leadership program this week at Northwood University.