Hayes Lemmerz Renames European Wheel Group
Hayes Lemmerz International has changed the name of its European Wheel Group to the International Wheel Group. The company said the new name is intended to reflect the increased global awareness and presence of the group. The International Wheel Group has undergone extensive growth in areas outside of Europe, including South Africa, India, Brazil, Thailand, Mexico and Turkey, according to Fred Bentley, president of Hayes Lemmerz’ International Wheel Group.
Fusor Named Preferred Supplier by Keystone Automotive
Keystone Automotive has named Lord Corporation’s Fusor Automotive Repair Adhesives a preferred supplier. Fusor Automotive is a provider of metal and composite bonding solutions for automotive body repair. Lord Corp. provides its full product-line of Fusor Automotive Repair Adhesives to Keystone Automotive Industries, specifically their adhesives for metal bonding, plastic repair and bumper repair; as well as their seam sealers and foams. According to the Keystone supplier performance summary, Lord earned 100 points on a rating scale with a total possible 100 points. Program criteria included quality, order fill rate and order lead-time.
Who’s Buying Whom?
Who owns the suppliers of today? New owners include leveraged buyout firms, putting a new spin on the old consolidation trend. In the wake of Dana’s announcement to sell off its aftermarket businesses comes the speculation of who will buy it. Water cooler conversations in the office haven’t exactly been at a fevered pitch. That’s a dramatic change from just a few short years ago when SPX was trying to make a hostile purchase of Echlin (which ultimately ended up in the hands of Dana), or when Federal-Mogul was buying up companies as part of former CEO Dick Snell’s major consolidation plan. Those were the good old days of major aftermarket acquisitions. Now, we’re left to ponder the fate of the Dana Automotive Aftermarket Group. The big question is: Who among the current base of manufacturers is a candidate to make such a large acquisition?
Larry Samuelson Named President of U.S. Automotive Parts Group
Larry Prince, chairman and CEO of Genuine Parts Company (GPC), announced yesterday that Larry Samuelson has been named president of the U.S. Automotive Parts Group, effective immediately. The position was previously held by Bob McKenna, who departed in 2003. GPC CEO Tom Gallagher held the position in the interim. Samuelson is currently president and CEO of NAPA Canada/UAP Inc. He will continue to hold these responsibilities in addition to his new ones with the U.S. Automotive Parts Group.
International Speedway Reports Fourth Quarter And Year-End Results
International Speedway Corp. (ISC) has reported results for the fourth quarter and year, which ended on Nov. 30, 2003. Total revenue for the 2003 fourth quarter was $164.7 million, compared to $171.7 million in 2002. Operating income for the fourth quarter was $56.5 million compared to $65.3 million for the prior year. Net income was $31.6 million, or $0.60 per diluted share, compared to $37 million, or $0.70 per diluted share, in the fourth quarter of 2002.
TI Automotive Names Ernst Kuhlen to New Position
TI Automotive has named Ernst Kuhlen director of global fuel delivery pumps and modules. Kuhlen will be responsible for development and implementation of the company’s global pump-and-module product strategy. Based in Neuss, Germany, he will report to Manouchehr Kambakhsh, vice president for global engineering. Previously engineering director for pumps at Pierburg AG in Neuss, Kuhlen joined TI Automotive as part of the company’s recent purchase of Pierburg’s pump business.
Lear Probe Looks for Nepotism
Auto-interiors supplier Lear Corp. said Tuesday the Securities and Exchange Commission has opened an informal investigation into its employment of corporate officers’ relatives and insider business transactions. The Southfield, Mich., parts maker said the SEC might look at several years of SEC filings that outline familial connections within the company, which include more than a dozen workers and upper-level executives. The latest filing, the company’s 2003 proxy statement, reveals that CEO Robert Rossiter had at least seven relatives working for Lear or for a company associated with Lear in 2002.
Greg Potter Named 2004 ETI President
Greg Potter of Chief Automotive Systems has been elected 2004 president of the Equipment and Tool Institute (ETI).
NAPA Names Robert Susor as President
Robert Susor will succeed Steve Handschuh as NAPA president. The decision was made following the announcement that Handschuh would be leaving NAPA to take a position as senior vice president of AZ Commercial, AutoZone’s wholesale division. Susor most recently was executive vice president of NAPA member Genuine Parts Co.
Oxford Automotive Names Two to Top Management Positions
Oxford Automotive, a $1 billion Tier 1 supplier of specialized welded metal assemblies, has announced two key management changes. Jeffrey Wilson, current president of Oxford Automotive’s North American division, has been appointed president and COO of Oxford Automotive Inc. Patrick Flynn, current vice president of strategic planning, has been named CFO, replacing Martin Welch who resigned last week to pursue other interests.