TRW Raises $676 Million in Public Offering
TRW Automotive Holdings Corp., which was bought by private equity firm Blackstone Group LP for about $4.7 billion last year, has raised $676 million in an initial public offering. The Livonia, Mich.-based company sold 24.14 million shares of stock at $28 a share. The company had predicted it would sell the stock at between $28 and $30 a share.
IMR Founder Ken Brenneman Dies at 61
Kenneth Brenneman, Sr., founder and president of Industrial Marketing Research, an international automotive research firm, died Sunday, Dec. 28 of heart failure. He was 61-years-old. Brenneman founded Industrial Marketing Research in 1971 in Clarendon Hills, Ill., as a one-man operation. The firm quickly grew to become an international company that now serves the U.S., Europe and Asia.
Commemorative Issue of FOCUS Marks MEMA’s 100th Anniversary
MEMA is teaming with Babcox Publications to publish a special commemorative issue of its quarterly magazine, Focus, in June 2004 to mark the association’s 100th anniversary. This special edition will be a collector’s item, produced in “coffee-table” quality. The magazine will commemorate the past 100 years of contributions that suppliers and individuals have made to the original equipment, aftermarket and heavy duty industries, a historic timeline and many historic photos from MEMA and its member companies.
Dana’s Terry Shively to be Featured on the C.A.R. Show
Terry Shively, vice president marketing and public relations for the Dana Automotive Aftermarket Group, will be featured on the C.A.R. Show radio program on Saturday, Feb. 7. The broadcast will air between 9 – 11 a.m. EST. During the broadcast, Shively will discuss the importance of preventative vehicle maintenance and the role that the Dana Automotive Aftermarket Group has played in supporting the Car Care Council’s “Be Car Care Aware” campaign. He will also discuss the need for the industry to continue to come together to capture a share of the $62 billion in unperformed vehicle maintenance.
ArvinMeritor Announces 2004 Suppliers of the Year
ArvinMeritor has announced the winners of the company’s annual supplier awards. The awards — which were presented Jan. 29, at ArvinMeritor’s North American Supplier Conference in Troy, Mich. — recognize outstanding performance in customer service, product quality, delivery and cost reduction.
Highlights from 2003 AAPEX and SEMA Shows Tonight on “Two Guys Garage”
An on-location episode of the “Two Guys Garage” television show recorded during Automotive Aftermarket Industry Week in Las Vegas will air this evening, Feb. 4 at 8 p.m. EST on SPEED Channel.Show hosts Sam Memmolo and Dave Bowman conducted on-site interviews with key corporate and industry leaders at the Automotive Aftermarket Parts Expo (AAPEX) and the Specialty Equipment Manufacturers Association (SEMA) shows in November 2003.
“DST Asks”: What Ordering Methods Do You Offer to Customers?
Forecasting the future isn’t a task restricted to tabloid psychics or your TV weatherman. Whether we like it or not, running a successful business today that will remain successful in the future requires forecasting skills.
Dura to Close a Tennessee Plant
Dura Automotive Systems, once the largest manufacturing employer in Tennessee’s Bledsoe County, will close its plant there in June and lay off the 80 workers left from a workforce that was 500 strong four years ago.
Delphi Achieves Record $3.2 Billion in Commercial Vehicle Business Bookings in ’03
Delphi achieved a record $3.2 billion in new commercial vehicle business bookings during 2003, according to company officials. Much of the new business is with Delphi’s engine management systems, along with audio, safety, climate control and electrical/electronic distribution systems, according to Maggart. While every major region saw a business increase during the year, a majority of the growth came from Asia-Pacific and Europe.
Diedrich Scholarship Applications Due
Incoming students planning to attend Northwood University in Midland, Mich., have until March 1 to apply for the Harvey Diedrich “Advantage” Scholarship. The award of $500 will go to a deserving student, majoring in either Marketing/Management or Automotive Aftermarket Management. Applications can be submitted online at www.northwood.edu. Diedrich was a longtime contributor to the aftermarket who passed away suddenly in June 2003. The scholarship was established by Diedrich’s friends and colleagues for his innovative marketing programs for Monroe shocks and Walker mufflers. He was principal architect of the highly successful “Walker Advantage” program.