Eagle Eyes Performance Lighting Systems makes MotorWeb.com its Official Dealer
January 10th, 2008The leading online source of aftermarket performance parts and accessories, MotorWeb.com, has made a distribution agreement with the major producer of high-performance aftermarket lighting products, the Eagle Eyes Performance Lighting Systems. The contract made MotorWeb.com as the official dealer of Eagle Eyes Performance Lighting Products which consist of superior and reliable parts like plug and play projection headlights, light emitting diode tail lights as well as original equipment manufacturer replacement lights for a large number of domestic and import automobile brands.
Not just as the authorized dealer of performance parts, MotorWeb.com has recently made an expansion to the markets including in domestic automobile, sports utility vehicle, truck and diesel market.
The leading provider takes an encouraging note about the distribution partnership. According to the statement given by Charley Patterson, MotorWeb.com’s president, “We are very excited to offer this high-quality brand. The Eagle Eyes offering provides our customers a great mix of products that offer style and affordability in a beautiful package.
The Eagle Eyes Performance Lighting Systems offers better quality of performance lighting parts that come in a wide range of styles and also useful in a great number of applications. The company produces its DOT certified automotive lighting products in its manufacturing facility located in Yung-Kang City. More of Eagle Eyes array of products are offered on their site. Visit www.eagleeyes.com.tw for more details and other fine points about the company.
News via www.prweb.com.
Tom West is ASAP’s New CEO
January 3rd, 2008The Automotive Specialty Accessories and Parts (ASAP) has its new CEO, Tom West. The new 40 year old officer came from a computer industry which is DELL. In this previous company, he provided his service for the past nine years. Though West’s new company is in line with aftermarket auto parts and products, he already observes the resemblance involving consumers of car parts and computers.
Since he was engaged more on computers, he believes that the auto industry is perfect for the web. He said about looking on the way how people purchase aftermarket auto parts. According to him, “You need a unique fit for your specific vehicle. The average retailer carries 50,000 SKUs in store. The average vehicle has 20,000 unique parts by year, make, and model, and that gets complex.”
Just like other officials of automotive companies, West attended the recent Specialty Equipment Manufacturers Association (SEMA) Show held in Las Vegas. He commented regarding auto enthusiast’s market saying, “This is a great industry with passionate customers,” West says about the auto enthusiast’s market. “I saw a lot of people fired up about their cars. People are passionate about computers, but not like they are about their cars.”
ASAP is one of the largest auto parts and accessories retailer and the parent company of Aftermarket Performance Parts catalogers Whitney & Co. and Stylin’ Concepts. The new CEO believes ASAP for expansion reaching to a $1 billion company. “We can scale this thing pretty quickly. Both (Dell and ASAP) got their start with catalogs and have a deep set of experience managing catalog functions and, more recently, online functions. Those skill sets are absolutely critical. These are relationships you can track,” West said.
News via multichannelmerchant.com.
Dorman Products is Vendor of the Year
December 14th, 2007Dorman Products has duly announced today that it has been selected by the Aftermarket Auto Parts Alliance as its Vendor of the Year (Category II) at the recently concluded annual winter convention meeting held in Boca Raton, Florida. It is truly a prestigious recognition as the award was meticulously discussed and decided by the entire Alliance members. Present to give the award was Richard H. Morgan, President and Chief Executive Officer of the Alliance. Given the award’s value, it was accepted by none other than Richard H. Morgan, Dorman Products President, together with Jeffrey Darby (Vice President of Traditional Sales) AJ Alvarez (Director of Sales) and Dave Thomas (Central Region Manager).
For such an award, the criteria involve the company’s overall performance, field support, and revenue growth within the Alliance. Given the significant contributions of Dorman Products, Dorman is then considered and promptly recognized by the award as a successful and leading Vendor Partner to the Alliance board and various shareholders.
Steve Berman, Dorman representative is quite proud of the company’s said achievement: “We are thrilled as a company to have contributed to the Alliance’s sales growth this past year. The Alliance members have embraced many of our new product categories and we look forward to showcasing even more products and solutions in 2008. We would like to thank all the members who recognized us in 2007 and look forward to continued mutual success.”
Please find below the brief company profiles of the two partnering companies, as provided in the release statement:
The Alliance is a distribution group of member shareholders under the Auto Value/Bumper to Bumper banners representing 72 Warehouse Distributors throughout North America. They serve 2400 Auto Parts Stores and 2300 Certified Service Centers. The Alliance prides itself on responding to the individual automotive needs of each customer and providing proven, quality service.
Dorman Products, Inc. is a leading supplier of automotive aftermarket performace parts and home hardware to the automotive aftermarket and mass merchandise markets. For more information about Dorman, the company’s web site can be accessed at www.dormanproducts.com.
Webb Aftermarket forges partnership with TMD Friction
December 13th, 2007Webb Wheel Products, specifically its aftermarket business division, has entered into a strategic partnership with TMD Friction. The alliance states that Webb Wheel will be providing friction linings and brake drums in order to better serve the commercial automotive aftermarket parts industry.
Wolfgang Winzer, Webb Wheels President in the Aftermarket Business Unit, asserts the superior feasibility of such a pact: “Webb has always had a reputation for supplying quality brake drums to the industry. Being able to couple our products with linings from a global friction manufacturer with TMD’s experience will allow us to offer the end user the combination most likely to give him the best performance.”
Below are brief profiles of TMD Friction Group and Webb Wheel Products:
TMD Friction Group is one of the world’s leading manufacturers of brake friction materials in the original equipment market of the automotive and brake industry.
Webb Wheel Products is a Marmon Highway Technologies company that manufactures automotive tools and aftermarket performance parts, such as hubs, brake drums, and rotors for medium and heavy-duty trucks, trailers and buses.
Revenge Designs Teams Up with Harrop Performance Engineering
December 12th, 2007Revenge Designs (operating at present within the company name Southern Cosmetic), a specialty automotive designer and manufacturer, has duly announced the company’s strategy for growth acceleration through an exclusive distributor alliance in the United States. As of now, Revenge Designs will be wholly distributing all of Harrop Engineering automotive products and technology within the United States territory. These products include superior aftermarket performance parts such as Harrop-branded superchargers normally used in NASCAR racecars. Aside from such an agreement, the company is also tasked to provide marketing aid and technical expertise to both consumers and retailers of Harrop engineering products.
Peter Collorafi, Revenge Designs Chief Executive Officer, is very optimistic about the partnership: “The quality and reliability of Harrop Engineering automotive technology and products are proven and legendary. This alliance is another important step in our continued quest to balance optimal performance products and services that will distinguish Revenge Designs in the marketplace.”
Meanwhile, Ron Harrop, Harrop Engineering’s Managing Director, also puts in the company’s views: “Revenge Designs is the most qualified and capable partner we have in the United States. Peter has been building and designing cars that incorporate our technology and products for over twenty years. With Revenge we are certain that our products are in the hands of people who understand great automotive and racing performance.”
Below is a brief company description of Harrop Engineering, as related from the company press statement:
Harrop is the official aftermarket manufacturer and distributor of the two most common positive displacement supercharger technologies available in the world today. These are the Roots type developed by Eaton in USA and the Twin Screw style designed by Lysholm in Sweden. Harrop Engineering exports its specialty racing parts to Europe, the United Kingdom and America, providing Formula 1 and racecar designers with quality, reliability and expertise. Another stellar division is Harrop Engineering’s performance brake kits that provide the highest value for money. Harrop Engineering’s manufacturing of original equipment brake assemblies, together with thirty-years of service in the motorsports industry, has culminated in a true performance orientated road solution. Using state-of-the-art, computerized equipment and CNC machinery, Harrop is striving to improve the accuracy and consistency of its manufacturing processes. Modern simulation tools produce virtual products prior to prototype validation and production builds, enhancing the integrity of the final product.
Expansion Plans for Bosch Automotive
December 11th, 2007The Bosch Group is planning to get hold of Holger Christiansen A/S, a leading remanufacturer of aftermarket performance parts such as alternators and starters, as well as a known dealer of automotive electric spare parts.
To date, Holger Christiansen is currently in the possession of Hella KgaA Hueck & Company. In terms of financial capacity, Holger was able to acquire sales worth 112 million euros in the fiscal years 2006/2007. It currently employs about 900 associates at its four manufacturing sites and eight revenue locations. Whereas the manufacturing sites are in Germany, Denmark, Ukraine and Slovakia, the sales sites are located mostly in Europe and another one in the United States. When asked about the purchasing cost of the company, the parties have announced that it is a mutual decision to not divulge the negotiation price. And while the procurement transaction has already been finalized, the business deal is still said to be subject to the endorsement of the antitrust authorities.
Peter Tyroller, Bosch Group Board member in-charge of the OE Sales and Automotive Aftermarket Division, has this to say: “We want to further bolster Bosch’s position as the leading supplier of remanufactured auto parts for the automotive aftermarket. We especially want to strengthen the key area of starters and alternators. With this acquisition, Bosch is strengthening its position as a remanufacturer of starters and alternators, and is extending its product segment of automotive electrics spare parts for the automotive aftermarket. With these activities, Bosch takes also special account of its social responsibility for protecting the environment and conserving resources.”
Below is a brief profile on the Bosch Group as provided in the press release statement. For those interested for more details and information about the company, please visit: www.bosch.com.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 260,000 associates generated sales of 43.7 billion euros in fiscal 2006. The Bosch Group comprises Robert Bosch GmbH and its roughly 300 subsidiary and regional companies in over 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spends more than three billion euros each year for research and development, and in 2006 applied for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.”
The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.
Motorcar Parts of America Declares New Accountant
December 7th, 2007Motorcar Parts of America, the leading provider of Aftermarket Performance Parts specifically remanufactured automotive starters and alternators, has just announced that it has appointed Ernst & Young LLP as the company’s new and independent public accounting firm. Such an agreement took effect on December 4, 2007.
Selwyn Joffe, MPA Chairman, CEO, and President, has this to say: “We are pleased to have engaged Ernst & Young as our new public accounting firm and look forward to working with them in the future.”
Earlier, MPA was also in the news when it has announced the start of its participation on the NASDAQ Global Market under the stock symbol “MPAA.”
For this, Joffe was quoted as saying: “The listing of our securities on The NASDAQ Global Market is an important step in increasing our visibility in the market, improving the liquidity of our stock and expanding our shareholder base.”
Cited below is a brief profile of Motorcar Parts of America. However, for more details and information, please visit the following sites: www.motorcarparts.com and www.quality-built.com.
About MPA
Motorcar Parts of America, Inc. is a leading remanufacturer of replacement
alternators and starters for imported and domestic cars and light trucks in
the United States and Canada. MPA has facilities in the United States in
Torrance, California, and Nashville, Tennessee, as well as in Mexico,
Singapore and Malaysia.
Hella Receives Recognition from (PACE) Award program
December 4th, 2007Hella KGaA Hueck & Co., successful supplier of automotive replacement tools and Aftermarket Performance Parts such as automotive lighting and electronic equipment, has been given honorable mention for its lane-change assistance technology in the recently concluded 2008 Automotive News Premier Automotive Suppliers’ Contribution to Excellence (PACE) Award program.
The said lane-change technology, one of Hella’s several driver-assistance mechanisms, has been designed to detect and recognize objects coming from a vehicle’s blind spots, as well as those objects not clearly visible in the rearview mirror. To be more specific, a yellow vertical lightstrip lights up on the vehicle’s sideview mirror whenever another vehicle enters its line of vision. At the same time, the vertical light strip would also flash in cases wherein the driver triggers the turn signal to indicate the intent to change lanes.
Dr. Martin Fischer, President of Hella Electronics Corporation, is very pleased with the award: “We are proud to be recognized and honored by Automotive News, the PACE Award community, and our fellow suppliers. Hella is constantly striving
to achieve innovative and advanced technology for our customers.”
Below are brief descriptions of the PACE awarding body and the Hella group, as provided in the press release statement. For more details and information, please visit: http://www.hella.com.
About the Automotive News PACE award:
The Automotive News PACE award recognizes supplier innovations, technological advancements and business performance in products, processes, information technology, materials and services for the manufacture of cars or trucks.
About Hella:
Hella, a global supplier, develops and manufactures components and systems for lighting and electronics for the automotive industry, including driver- assistance systems enhancing safety and comfort. In addition, its joint- venture companies produce complete vehicle modules, air-conditioning systems and vehicle-electric systems. Hella is also one of the world’s largest companies selling automotive aftermarket parts and accessories, with its own sales companies and partners in more than 100 countries. Annual sales for the Hella Group total $ 4.8 billion.
Hella is one of the 100 largest industrial companies in Germany. More than 25,000 people are employed in 70 production facilities, production subsidiaries and joint-venture companies. Nearly 3,000 Hella engineers and technicians work in research and development. Customers include all of the world’s leading automakers and system manufacturers, as well as the automotive aftermarket.
American Capital Strategies Ltd. Provides Investment in Dynojet’s One Stop Buyout(TM)
November 28th, 2007An investment was made by American Capital Strategies Ltd. to the One Stop Buyout(TM) of Dynojet Research Inc. which takes in the form of a senior subordinated debt and favored convertible, common equity as well as senior term loan. In addition, American Capital also provides a revolving credit facility. Dynojet is a developer of Aftermarket Performance Parts, products and diagnostic tools for automotive and motorcycle industries. Previous to the investment of American Capital, it was a portfolio company of Graham Partners.
As said by Darin Winn, the Regional Managing Director of American Capital, “For the past 35 years, Dynojet has been a pioneer in product development in the motorcycle and automotive industries and we are excited to add this innovative company to our portfolio. Our one-stop financing capabilities and intensive and focused internal due diligence resources allowed us to quickly complete this investment.”
The investment of American Capital will reach to an estimated $11 billion in the last 12 months, by way of its funds under its administration and direct investment. The year-to-date investment is approximately $9.9 billion with an approximate $11 billion for quarter to date. The company has invested about $8.1 billion in the last 12 months excluding the funds under management which reached to approximately $7.3 billion year to date and around $1.3 billion quarter to date.
“Dynojet is the clear leader in its industry, commanding number one market share in practically every category in which it competes. The team at Dynojet has built the most recognized brand name in the market for fuel management products and dynamometers, which are devices that measure engine performance. Furthermore, under the leadership of President and CEO Robert Vlcek, the Company has expanded its target markets, augmented its product portfolio and achieved robust financial performance,” said Frank Do, American Capital’s Managing Director.
According to Brian Martin, the Vice President of American Capital, “Dynojet competes in an attractive industry with strong growth trends in the motorcycle parts and accessories market driven by favorable demographics, an increasing installed base of motorcycles and the conversion from carburetion to electronic fuel-injection fuel management. Dynojet’s strong market position and ability to quickly develop new products bode well for the Company and will enable it to meet anticipated market demands.”
Robert Vlcek, Dynojet’s President and CEO, also commented on the matter, saying “We are pleased with American Capital’s investment in Dynojet. American Capital’s ability to fund the entire transaction and the dedicated team in the Los Angeles office makes working with American Capital quick and effective. I look forward to Dynojet’s continued innovation and excellence with help from American Capital.”
News via money.cnn.com.
