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  1. STARFIRE’s Tec-A line of products for front-line maintenance and service is growing with the addition of three new offerings: STARFIRE TEC-A-Carb Carb/Choke Cleaner gets to hard-to-reach passages and sliding surfaces to eliminate carbon, gum, sludge, varnish or corrosive deposits that interfere with performance. It is safe for oxygen sensors and catalytic convertors. STARFIRE Tec-A-Nut Penetrating Oil cuts through grease and corrosion while dissolving rust to free seized components. It also is effective for water displacement, leaving a protective film in cracks and crevices to prevent rust or corrosion. STARFIRE Tec-A-Glass is ammonia-free and quick-drying. Its clinging foam formula quickly removes fingerprints, smudges, light grease, bugs, dirt and smoke residue from windows, mirrors and other glass surfaces without rinsing. It leaves a streak-free shine and a pleasant, fresh aroma. The new additions join STARFIRE Tec-A-Brake Low VOC Brake & Parts Cleaner and Tec-A-Start Starting Fluid in the company’s line of maintenance and service products. All STARFIRE lubricants and additives meet or exceed manufacturer requirements. For bulk orders or technical specifications, or to locate a local distributor, call 888-258-8723 or visit starfire1.com/contact.php. Source: http://www.aftermarketnews.com/starfire-extends-tec-a-line-with-3-new-products/
  2. Auto parts maker Tenneco is buying Federal-Mogul from Carl Icahn's Icahn Enterprises in a deal worth $5.4 billion in cash and stock. Tenneco will then separate the combined companies into two separate stocks in a tax-free spinoff, one focusing on "aftermarket and ride performance," the other on "powertrain technology." "We expect to be meaningful stockholders of Tenneco going forward and are excited about the prospects for additional value creation," Icahn said in a statement. "This transaction is an excellent example of our general modus operandi at Icahn Enterprises, by which we seek to acquire undervalued assets, nurture, guide and improve their condition and operations, and ultimately develop them into more valuable businesses, which greatly enhances value for all shareholders." Icahn acquired control of Federal Mogul, a maker of wiper blades and spark plugs, in 2008. The activist investor then took it private in January 2017. Tenneco shares jumped more than 6 percent in premarket trading Tuesday. The sale to Icahn, made up of $800 million in cash and 29.5 million shares of Tenneco stock, is expected to close in the second half of the year. Source: https://www.cnbc.com/2018/04/10/icahn-selling-federal-mogul-to-tenneco-for-5-point-4-billion.html
  3. Air filters, cabin air filters, oil filters and (sometimes) fuel and transmission filters are important maintenance parts that typically are replaced according to a time and/or mileage schedule. A vehicle’s service schedule recommendations can be found in the owner’s manual or in a separate brochure. Unfortunately, many motorists never read – or totally ignore – the recommendations. Factory service schedules are designed to prolong the life of the engine, transmission and cooling system, to reduce premature wear and breakdowns, but also to minimize maintenance costs while the vehicle is still under warranty. That’s why factory oil change recommendations have been stretched to 7,500 to 10,000 miles or more on many late-model vehicles. Most late-model cars and light trucks no longer have recommended change intervals for transmission fluid and filters, or for fuel filters. These so-called “lifetime” fluids and filters are supposed to last a long time – but they won’t last forever. Experience has shown that “lifetime” filters and fluids don’t live up to the hype. Fuel filters always should be replaced when a fuel pump is replaced (unless the filter is part of the fuel pump module assembly). Likewise, transmission filters should be replaced if a customer is changing the fluid in their transmission. Last Line of Defense Against Contaminants Filters are the first line of defense against contaminants. Air filters keep dirt and abrasive particles out of the engine. A good-quality air filter will trap about 98 percent or more of the particles that can cause trouble inside an engine. As the filter media becomes saturated with dirt, it’s efficiency actually increases. But, as the filter becomes clogged with more and more dirt, it also becomes more restrictive to airflow. The greater the pressure drop across the filter, the more it hurts performance and fuel economy. Ideally, an air filter will be replaced before it causes a restriction in airflow. Whether or not an air filter goes 30,000 miles or 50,000 miles before it needs to be replaced depends on driving conditions and how much dirt the filter has ingested over those miles. Driving on dusty rural gravel roads is a lot different than suburban or city driving. Air filters need to be inspected regularly and changed more on an “as needed” basis than the mileage on the odometer. The same advice goes for cabin air filters, which typically need to be replaced every couple of years. Carbon-impregnated “odor” filters are only good for about a year before they lose their ability to absorb odors. Cabin air filters are an often overlooked maintenance item because many motorists are unaware their vehicle has one, or how often it should be changed. The filters usually are located behind the glovebox or under a panel in the cowl area of the windshield. With oil filters, the situation is a little different. An oil filter traps dirt and metallic wear particles in the crankcase to protect the bearings, rings, camshaft and valvetrain components. The life of the oil filter depends on how rapidly contaminants are generated inside the engine. If the air filter is doing its job and prevents dirt from being sucked into the engine, and the rings and cylinders are in good condition and holding a tight combustion seal, and the oil is doing its job of minimizing wear, an oil filter easily should last until the next oil change is needed. Oil filters have a built-in bypass valve so if they do become clogged and the pressure differential becomes too great, the bypass valve will open, allowing the engine to maintain normal oil pressure. The only problem is that the oil will be unfiltered, which means the bearings, cam and valvetrain have no protection against abrasive wear particles. The small size and limited dirt-holding capacity of many late-model oil filters means regular changes are a must. Source: http://www.counterman.com/coolant-sealers-can-help-vehicle-owners-save-money/
  4. One of the best money-saving products that’s ever been invented is cooling system sealer. Most products will successfully seal minor coolant leaks to stop the loss of coolant that leads to engine overheating. Specially formulated “head gasket” sealers also can stop many head gasket leaks and save your customer thousands of dollars in expensive engine repairs. What’s more, coolant sealers also can be added to the coolant as a preventive measure to plug small leaks before they turn into big ones. Coolant leaks can occur anywhere in the cooling system, including the water pump, hoses, radiator, heater core, thermostat housing, expansion plugs, head gasket, combustion chamber or cylinder block. Regardless of where a leak occurs, the end result is always the same: coolant loss that sooner or later allows the engine to overheat. Overheating is bad news because excessive heat causes metal to expand beyond normal limits and clearances. The result can be piston scuffing, cylinder scoring, valve sticking, damaged valve guides and even warped cylinder heads. Overheating also can crush an otherwise good head gasket, causing the gasket to leak when the radiator is refilled with coolant. Most cooling system sealers can seal small pinhole leaks in radiators and heater cores as well as hairline cracks where the core and end tanks are joined, and porosity leaks in aluminum cylinder heads and blocks. Products designed to seal more serious leaks also can delay or even eliminate the need to replace a head gasket or heater core (both of which are expensive labor-intensive repair jobs). Stopping a water pump shaft seal leak, however, or a large leak in a hose is beyond the capabilities of most products. The key to selling cooling system sealers is to match the product with the leak your customer is trying to stop. And the keys to a successful repair are choosing the right product and then following the directions on the label. Step one is to figure out what’s leaking. Is it the radiator, heater core, water pump or a bad hose? Head gasket leaks are harder to diagnose because leaks are usually internal rather then external. A mysterious loss of coolant with no puddles under the vehicle or obvious signs of leakage under the hood often indicates a leaking head gasket, or in some cases a leaky radiator pressure cap. A head gasket leak can be confirmed by pressure-testing the cooling system, using a chemical test strip that detects the presence of combustion gases in the coolant, or by checking the dipstick for signs of coolant in the oil (yellowish gunk on the dipstick). Radiator caps also can be pressure-tested to see if the cap holds its rated pressure. If it can’t, replace the cap. Sometimes, leaky hose connections can be fixed by simply tightening or replacing the clamp. But if a hose is dripping or spraying coolant, replacing the hose is the recommended repair. Same for a leaky water pump. If a leak is something that a coolant sealer has a good chance of stopping, select a product that is formulated for that type of leak (read the label). Tell your customer to follow the directions for how the product should be used and what, if any, additional steps are recommended to ensure a successful seal. In most cases, the sealer is added to the radiator or coolant reservoir. Makeup coolant then is added and the engine is started so the sealer and coolant can circulate until the leak stops. Additional coolant may be required after the engine has reached operating temperature and cooled back down. Caution: Customers should be warned to NEVER open a radiator cap on a hot engine. Steam can blow out and cause serious burns. Wait until the engine has cooled before opening the cap. Source: http://www.counterman.com/coolant-sealers-can-help-vehicle-owners-save-money/
  5. SOUTHFIELD, Mich., March 1, 2018 /PRNewswire/ -- ANCO® Wipers, one of Federal-Mogul Motorparts' quality brands, will mark the 100th anniversary of The Anderson Company on March 1st with the return of an iconic part of its past: "Big Yellow," the bold, eye-catching display cabinet for shops and technicians. Additionally, ANCO recently released a new conventional wiper blade for light vehicles, ANCO 97-series. Big Yellow was a unique display unit that revolutionized the way that wipers were displayed, sold and merchandised. Now available for a limited time, this mobile display popular among shops and service stations during ANCO's early years serves as a nod to the longevity of the brand as well as an accessible way for technicians to pull the right ANCO wiper for easy installation or sale. To obtain Big Yellow, shop owners may contact their supplier for more details. "ANCO has always been one of Federal-Mogul Motorparts' most recognized brands, and it's fitting that we are able to pay homage to our past by reintroducing Big Yellow to the market," said Michael Proud, vice president of marketing, Americas, Federal-Mogul Motorparts. "We also look forward to kicking off our next 100 years by creating a fresh, modern look for our brand, and are excited to have technicians, shop owners and DIYers alike taking a new look at the ANCO brand and the spectrum of products that we have to offer." ANCO has long led the way and offered premium replacement wiper blades, refills, washer pumps and wiper arms for passenger cars and commercial vehicles. Recently, the ANCO brand released a new series of conventional wiper blades for light vehicles, ANCO 97-Series wipers, that offer complete conventional coverage across 97 per cent of vehicles in operation (VIO) in North America, in a size range from 12" – 22", 24", 26" and 28". In keeping with ANCO's long history of engineering innovation, each wiper is manufactured with Duraklear® Plus, an exclusive, advanced rubber compound to provide consistent, streak-free performance, maintainable at highway speeds. These wipers are also outfitted with Redi-Fit™ connection system that eliminates the use of loose-pack connectors for fast, easy installation. ANCO was founded as The Anderson Company by John W. Anderson in South Bend, Ind., in 1918. Initially, it developed, produced and marketed a range of automotive products, including "Hot Spot" manifold gaskets, ball thrust bearings, and timers, all for the original Ford Model T. Eventually, the company began experimenting with wiper blades, and by the early 1930s, were producing replacement wipers and arms at large volumes, including for military applications. Federal-Mogul Motorparts' parent company, Federal-Mogul Corporation (now Federal-Mogul LLC), acquired the ANCO brand in 1998. To find a replacement wiper blade, view installation videos, or to learn more about ANCO products, visit www.ancowipers.com. To learn more about Big Yellow and other merchandising opportunities, please contact your Federal-Mogul Motorparts representative. About Federal-Mogul Federal-Mogul LLC is a leading global supplier of products and services to the world's manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation and industrial markets. The company's products and services enable improved fuel economy, reduced emissions and enhanced vehicle safety. Federal-Mogul operates two independent business divisions, each with a chief executive officer reporting to Federal-Mogul's Board of Directors. Federal-Mogul Motorparts sells and distributes a broad portfolio of products through more than 20 of the world's most recognized brands in the global vehicle aftermarket, while also serving original equipment vehicle manufacturers with products including braking, wipers and a range of chassis components. The company's aftermarket brands include ANCO® wipers; Beck/Arnley® premium OE quality parts and fluids; BERU®* ignition systems; Champion® lighting, spark plugs, wipers and filters; Interfil® filters; AE®, Fel-Pro®, FP Diesel®, Goetze®, Glyco®, National®, Nüral®, Payen®, Sealed Power® and Speed-Pro® engine products; MOOG® chassis components; and Abex®, Ferodo®, Jurid® and Wagner® brake products and lighting. Federal-Mogul Powertrain designs and manufactures original equipment powertrain components and systems protection products for automotive, heavy-duty, industrial and transport applications. Federal-Mogul was founded in Detroit in 1899 and maintains its worldwide headquarters in Southfield, Michigan. The company employs nearly 53,000 in 24 countries. For more information, please visit www.FMmotorparts.com. SOURCE Federal-Mogul Motorparts http://www.FMmotorparts.com
  6. Advance Auto Parts Inc. recently completed the nationwide roll-out of cross-banner visibility, a program that enables the company to serve professional customers with a greater breadth and depth of quality parts available in-market. Cross-banner visibility enables shop owners, technicians and Advance team members to view the entire product assortment available from Advance, Carquest and Worldpac on one platform, powered by a new catalog. Access to the enterprise product portfolio, including more than 1 million quality parts as well as online ordering on a single invoice will help reduce the time spent researching and ordering parts and decrease product delivery times for the professional customers served by Advance. “Cross-banner visibility brings together all of our enterprise product offerings to give the professional customer more choices,” said Bob Cushing, executive vice president, Advance Professional. “Now you can see and order parts from Advance, Carquest and Worldpac locations in your market, all in one catalog. Cross-banner visibility will help decrease order times for shops and give us the ability to say ‘Yes’ even more often to our customers.” Advance began deploying cross-banner visibility in select markets during 2017 to an initial pilot group that included professional customers and company-owned stores. Additional locations were added as in-market product availability and assortment, as well as delivery routes, were optimized to best serve a market’s customers. Cross-banner visibility is now complete nationwide, delivering Advance, Carquest and Worldpac customers expanded visibility and access to their expansive product portfolio ranging from OE to aftermarket brands. For more information about quality parts and services available from the entire Advance organization, visit pro.AdvanceCommercial.com or call 1-877-280-5965.
  7. Bloomberg reports Fiat Chrysler Automobiles NV has fielded interest in some of its Magneti Marelli businesses as the Italian-American carmaker prepares for a potential spinoff of the auto-parts unit by early next year, according to people familiar with the matter. Bain Capital has sought to buy businesses including the lighting division, and U.S. rival Tenneco Inc. has shown interest in some or all of Marelli’s assets, said the people, who asked not to be named as talks are private. Brembo SpA, which supplies brakes for Ferrari NV’s Formula 1 race cars, has discussed buying some Marelli assets, working with a group of Italian investors, they said. A Brembo representative said the company doesn’t currently have any plans regarding Marelli. Bain, the private equity group, and Tenneco, based in Lake Forest, Illinois, declined to comment, as did Fiat Chrysler. While Fiat Chrysler still favors a full distribution of Marelli stock to its investors at the beginning of next year, it could eventually be open to selling some product lines before the separation, the people said. Chief Executive Officer Sergio Marchionne, who has so far rebuffed the suitors, doesn’t want to sell businesses that make key components for the automaker to private-equity investors, but a sale to an industrial buyer could potentially make sense, the people said. Spinoff Plan Magneti Marelli may be valued at about 5 billion euros ($6.1 billion) including debt, the people said. Fiat Chrysler said last year that it was considering a spinoff of the unit, as part of Marchionne’s plan to unlock value and better position the company for the changes churning through the industry. The 65-year-old CEO had more recently targeted last month for the board to review terms for distributing the stock. Fiat Chrysler’s board will consider a potential spinoff in the second quarter, according to a statement late Wednesday. “In the meantime, management will continue its evaluation of potential transaction structures to maximize value,” it said. Like other car-part makers, Marelli has a mix of low-margin and premium product lines whose differences will only widen with the switch to automated and electric cars. The unit, founded in 1919, manufactures automotive lighting systems, powertrain components and engine-control units, along with electronic systems, suspension systems, shock absorbers and other components and modules. It had sales of about 7.9 billion euros in 2016, and employs about 43,000 people. A spinoff would be in keeping with a global trend by parts suppliers to become more specialized amid the move to electric and self-driving cars. Competing U.S. parts supplier Delphi divided last year into vehicle-propulsion systems producer Delphi Technologies Plc and Aptiv Plc, which focuses on connected and autonomous cars, while German tire and powertrain maker Continental AG said in January that it’s mulling a possible revamp. Unit Independence Marchionne has already turned Fiat Chrysler’s CNH Industrial NV unit, which makes trucks and construction equipment, and the Ferrari supercar division into separately traded companies as he seeks to focus on automaking. Fiat said it will discuss Marelli’s separation as part of its review of the group’s five-year plan to 2022, the last one under Marchionne’s leadership. The executive, who plans to step down next year, will outline on June 1 his vision for the future of the carmaker. During his tenure, he increased the former conglomerate’s value by more than 10 times to about $80 billion helped by the spinoff of Ferrari and CNH. Adapt or Die Is Marchionne’s Stark Farewell Message to Carmakers In an interview in January, Marchionne predicted that carmakers will have less than a decade to reinvent themselves to survive in the world of new technologies. Premium brands will manage to hold onto their cachet, while more run-of-the-mill manufacturers will confront disruptors including electric-car maker Tesla Inc. or the Waymo robo-vehicle division of Google parent Alphabet Inc., he said. Source: https://www.bloomberg.com/news/articles/2018-03-01/fiat-s-auto-parts-unit-said-to-draw-suitors-amid-spinoff-plan
  8. Advance Auto Parts CEO Tom Greco on Tuesday said the company plans to bring in outside help to compete against e-commerce giant Amazon. “So when you talk about Amazon particularly, we’ve had to recruit some people into the company who can really help us compete vigorously against formidable competitors like Amazon,” he told FOX Business’ Liz Claman on “Countdown to the Closing Bell.” The company is trying to engineer a business turnaround by using its savings from the tax reform bill and is taking steps to step up its e-commerce program. “We’re investing in e-commerce and our technology programs because we know that’s going to be important,” Greco said. “We certainly made big investments in customer service because the experience that our customers have both online and in the stores is critical and then in our people.” According to Greco, one of the biggest focuses of the plan is to incentivize its employees. “Overall, we have a plan that is going to invest significantly back in our employees,” he said. “We have front-line employees all over the country who are really important for us. We want the very best parts people in the business working for Advance.” After President Donald Trump signed the Tax Cuts and Jobs Act, which slashed the corporate tax rate to 21% from 35%, companies began giving incentives to their workers including salary hikes to $1,000 bonuses. As a part of the auto parts retailer’s turnaround strategy, the company introduced a stock ownership program that provides its top-performing employees with stock options. “We actually introduced a stock ownership program for them for our top performers so that they can earn stock in the company,” he said. “We feel that is a really good retention move for us, and it has dropped our turnover significantly.” Source: http://www.foxbusiness.com/markets/amazon-triggers-advance-auto-parts-call-for-outside-help
  9. Parts Authority announced today that they have acquired IMC from AutoZone. LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Parts Authority, one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry throughout the United States, today announced it has entered into a definitive agreement to purchase Interamerican Motor Corporation (“IMC” or the “Company”) from AutoZone, Inc, (NYSE: AZO). IMC operates 26 locations across 9 states and is the second largest distributor of OE quality import replacement parts in the United States. For over fifty years IMC has been committed to offering its customers a robust parts catalog sourced from hundreds of foreign focused suppliers, including original equipment brands. The transaction is expected to close in the coming weeks. "We are excited to add IMC to the Parts Authority platform. This acquisition is an expansion of our product offerings, customer touch points and geographies. The Company’s leadership in European replacement parts is a logical fit with Parts Authority’s current catalog," said Randy Buller President & CEO of Parts Authority. "We believe the expanded inventory depth of the combined organization will significantly benefit both IMC’s existing customer base as well as Parts Authority’s customers. In addition, the IMC footprint expands Parts Authority into key new geographies of Florida, Texas, Northern California and the Pacific Northwest. As with any acquisition, we are most excited about bringing on great people. IMC’s management team and team members will add tremendous value to our organization and we are excited to welcome them into the Parts Authority family.” “Parts Authority’s culture of customer service, operational excellence and integrity combined with IMC's leadership in selling to the import segment creates an exciting growth platform”, said Kelly Mundt VP of Corporate Strategy of IMC. “This is a fantastic home for our team members”, she continued. “While we believe IMC is a valuable asset and a leader in European and Asian branded replacement parts, the sale of IMC will allow AutoZone to focus on our core business.,” said Bill Rhodes AutoZone’s Chairman, President and CEO. ”We believe IMC will be better suited to a different ownership structure where they will get the time, attention and investments necessary to optimize their business model.” Jefferies LLC acted as sole financial advisor to AutoZone in the proposed sale of Interamerican Motor Corporation. About Parts Authority: Parts Authority, founded in 1972, is one of the largest distributors of automotive and truck parts to the aftermarket auto parts industry in the United States serving customers in the commercial channel, including installers, dealerships, fleets and national accounts as well as in the e-commerce channel. Headquartered in Lake Success, NY, Parts Authority has over 150 locations, including IMC, across the Northeast, Mid-Atlantic, Ohio, Georgia, Florida, Texas, Arizona, California and the Pacific Northwest. Parts Authority is led by President & CEO Randy Buller and a management team with long-tenured industry experience. Parts Authority has grown through both organic initiatives as well as through acquisitions. Over the past several years Parts Authority has acquired over a dozen companies as part of its geographical expansion initiative. About AutoZone: As of February 10, 2018, AutoZone sells auto and light truck parts, chemicals and accessories through 5,514 AutoZone stores in 50 states plus the District of Columbia and Puerto Rico in the U.S., and 532 stores in Mexico, 26 IMC branches and 16 stores in Brazil for a total count of 6,088. AutoZone is the leading retailer and a leading distributor of automotive replacement parts and accessories in the United States. Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. Many stores also have a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations, and public sector accounts. Additionally, we sell automotive hard parts, maintenance items, accessories, and non-automotive products through www.autozone.com, and our commercial customers can make purchases through www.autozonepro.com. AutoZone does not derive revenue from automotive repair or installation. Contacts For Parts Authority David Serrano, 516-300-1265, ext 3299 EVP and Chief Financial Officer [email protected] or For AutoZone Media: Ray Pohlman, 866-966-3017 [email protected] or Financial: Brian Campbell, 901 495-7005 [email protected]
  10. LOS ANGELES (PRWEB) FEBRUARY 27, 2018 Kingswood Capital Management, LLC (together with its affiliates, “Kingswood”), an operationally-focused lower-middle market private equity firm, announced today that it has acquired substantially all of the assets of AutoAnything, Inc. (“AutoAnything” or the “Company”). Based in San Diego, California, AutoAnything is a leading online retailer of automotive performance parts and accessories. Prior to the acquisition, AutoAnything was a subsidiary of AutoZone, Inc. (NYSE: AZO), the largest retailer of aftermarket automotive parts and accessories in the United States. Brandon Proctor, President of AutoAnything, said “We look forward to working with Kingswood and continuing to provide our customers with market leading products and service. Kingswood’s expertise and operational support will allow us to accelerate the execution of our strategic plan and to reach our full potential as an independent company.” As part of the transaction, Drew Sanocki, a Kingswood operating executive and an ecommerce veteran, having participated in the sector as a founder, operator, advisor and investor, is joining the Company as Executive Chairman and will be actively involved with the Company’s senior management team in executing the Company’s long term plan. “We are excited about partnering with a leader in such a large and expanding category. We look forward to working with the AutoAnything team to innovate and grow the company as a category leader,” said Mr. Sanocki. Alex Wolf, Managing Partner of Kingswood, commented, “As an early mover in the online automotive aftermarket category, AutoAnything was able to develop some distinct competitive advantages in a large, fragmented and growing market. We are delighted to partner with Brandon, Drew and the entire AutoAnything team to further build upon those strengths for the benefit of AutoAnything’s customers, employees and vendor partners.” Guggenheim Securities, LLC acted as the exclusive financial advisor to AutoZone. Dentons LLP served as legal advisor to Kingswood. About Kingswood Capital Management Kingswood (http://kingswood-capital.com/) is an operationally-focused lower-middle market private equity firm that invests in businesses in transition driven by operational, strategic, financial or market-driven change. In addition to access to capital, Kingswood brings a broad network of operational resources, relevant industry relationships and tailored solutions to strengthen businesses, realize strategic goals and enhance long term value creation. About AutoAnything AutoAnything, founded in 1979 and headquartered in San Diego, California, is a leading online retailer of automotive performance parts and accessories. The company sells a wide variety of products, including tonneau covers, floor mats and liners, brakes, rotors and pads, seat covers, suspension systems, nerf bars and running boards, exhaust, mufflers and tips, and air intake systems. Source: http://www.prweb.com/releases/2018/02/prweb15251024.htm
  11. 4th quarter comparable store sales increase of 1.3%, full-year increase of 1.4% 36% increase in 4th quarter diluted EPS to $3.52, includes a $0.62 benefit from revaluation of deferred income tax liabilities Announces Executive Leadership Succession Plan Springfield, MO, February 7, 2018 – O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, today announced record revenues and earnings for its fourth quarter and full year ended December 31, 2017. The results represent 25 consecutive years of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April of 1993. 4th Quarter Financial Results Greg Henslee, O’Reilly’s CEO commented, “We generated comparable store sales of 1.3% for the fourth quarter, as we faced tough comparisons from a very favorable demand environment in the prior year, as well as calendar headwinds. As we discussed on our third quarter earnings call, December of 2016 was a very strong month, driven by extreme winter weather across the country. We also faced unfavorable calendar shifts in the fourth quarter of 2017, due to the timing of the Christmas holiday, which fell on a Monday in 2017 versus a Sunday in 2016, and one additional Sunday during the fourth quarter of 2017. Sunday represents our lowest volume day, and these combined calendar shifts resulted in a 70 basis point headwind to our fourth quarter 2017 comparable store sales results. Despite these challenges, Team O’Reilly’s hard work and dedication to providing unsurpassed levels of customer service drove our comparable store sales results above the mid-point of our guidance range, and I would like to thank all of our Team Members for their unwavering commitment to our long-term success.” Sales for the fourth quarter ended December 31, 2017, increased $92 million, or 4%, to $2.19 billion from $2.10 billion for the same period one year ago. Gross profit for the fourth quarter increased to $1.16 billion (or 52.9% of sales) from $1.11 billion (or 53.1% of sales) for the same period one year ago, representing an increase of 4%. Selling, general and administrative expenses (“SG&A”) for the fourth quarter increased to $756 million (or 34.5% of sales) from $707 million (or 33.7% of sales) for the same period one year ago, representing an increase of 7%. Operating income for the fourth quarter decreased to $403 million (or 18.4% of sales) from $408 million (or 19.4% of sales) for the same period one year ago, representing a decrease of 1%. Net income for the fourth quarter ended December 31, 2017, increased $56 million, or 23%, to $302 million (or 13.8% of sales) from $246 million (or 11.7% of sales) for the same period one year ago. Diluted earnings per common share for the fourth quarter increased 36% to $3.52 on 86 million shares versus $2.59 on 95 million shares for the same period one year ago. The U.S. Tax Cuts and Jobs Act, enacted in December 2017, significantly reduced the federal corporate income tax rate, and required the Company to revalue its deferred income tax liabilities based on the lower enacted federal corporate income tax rate. The Company’s Net Income for the fourth quarter ended December 31, 2017, includes a one-time $53 million benefit related to the revaluation of its deferred income tax liabilities, and the Company’s diluted earnings per common share of $3.52 for the fourth quarter ended December 31, 2017, also includes a one-time $0.62 benefit from the revaluation. The Company adopted a required new share-based compensation accounting standard during the first quarter of 2017, which requires excess tax benefits from share-based compensation payments to be recorded in the income statement. The Company’s diluted earnings per common share of $3.52 for the fourth quarter ended December 31, 2017, includes a $0.15 benefit from the adoption of the new accounting standard. Full press release: https://corporate.oreillyauto.com/corporate/GetUpload?id=orly_pdf_222.pdf
  12. The Mighty Auto Parts franchise brand has been named one of the top 50 franchises for 2018 by Franchise Business Review. Mighty Auto Parts is the franchise network of Mighty Distributing System of America Inc., which is based in Norcross, Ga. Franchise Business Review surveyed franchisees on 33 benchmark questions focusing on critical areas of their franchise systems. Topics ranged from training and support to operations, to franchisor/franchisee relations, and financial opportunity. Mighty was one of 307 franchise brands participating, representing over 28,000 franchise owners across North America, according to Mighty Distributing System. "There are thousands of successful franchise companies operating in North America, but many of those companies do not offer a solid investment opportunity for the actual franchise owners," says Eric Stites, CEO of Franchise Business Review. "As an independent research firm, we rate the franchise companies in the marketplace today and identify those that have the highest levels of satisfaction and performance among their franchisees in order to help entrepreneurs when choosing which franchise to invest in. The companies on this year's list are the top performing brands in the areas critical to their franchisees' success." Mighty Distributing System is a Georgia-based franchisor with a network of distributors that provide inventory management solutions and preventive maintenance products to automotive service providers, including tire dealers, quick lubes, independent shops, car dealerships, and fleets. The company says its continued franchise growth includes recruiting high-quality entrepreneurs as well as forming strategic partnerships with prominent automotive service companies. Mighty franchises provide owners a way to improve operational efficiency and diversify their current business portfolio. Ken Voelker, Mighty Distributing System's president and CEO, says, "As a full-service franchisor, Mighty provides its franchisees with a suite of products and services designed to help them be successful. Mighty's business model of licensing exclusive territories, providing leading-edge training, and helping franchisees monitor and improve financial performance has been a successful formula for over five decades. It is gratifying to see the research by Franchise Business Review validates our commitments to franchisee satisfaction and positive franchisor-franchisee relations." This is the 13th annual ranking of the top 200 award-winning franchise opportunities by Franchise Business Review, a franchise market research firm that performs independent surveys of franchisee satisfaction. Franchise Business Review publishes its rankings in its annual Guide to Today's Top Franchises. Mighty Distributing System supports 109 U.S. distributors in 44 states and four international markets. The company, which was established in 1963, deals directly and exclusively with automotive professionals. Posted on February 1, 2018 - http://www.moderntiredealer.com/news/728339/mighty-auto-parts-is-ranked-among-top-50-franchises-in-north-america
  13. The e-commerce automotive aftermarket is expected to cross $30 billion USD by 2025, according to a new research report by Global Market Insights Inc. The global e-commerce automotive aftermarket is expected to generate a demand of more than 1 billion units till 2025. Increasing age of vehicles across the globe, specifically in developed countries coupled with shifting consumer preference towards online purchase of auto components will primarily drive the industry growth over the forecast timeframe. Changing style preferences of consumers and increasing customizations in vehicles will further strengthen the industry penetration. Steering and suspension is anticipated to dominate the e-commerce automotive aftermarket share over the forecast timeframe. This can be credited to rising demand of components such as control arms, coil springs and bearings. Availability of numerous options at reasonable price and choice will positively impact the product demand. Spark plugs are expected to exhibit more than 21 percent CAGR till 2025 owing to recommendation of vehicle manufacturers for product replacement after every 30,000 miles. Increased accident rates along with cheaper product availability as compared to its counterparts will further propel the segment’s growth. Online platforms have gained prominence among the automotive aftermarket industry players to launch their auto-parts portfolio. The manufacturers are increasingly launching their products on online platforms through third party retailers, such as Amazon and eBay, or via their own online portals, positively impacting the industry growth. However, lack of efficient standardization for e-commerce businesses may lead to easy counterfeiting of products, posing a threat to the industry growth over the forecast timeframe. Rising production of electric and hybrid vehicles across the globe has resulted in increased complexity of the intricate parts. This has led to increased production of automotive aftermarket parts owing to proliferating DIFM customers. The e-commerce automotive aftermarket players are forced to expand their portfolio, to cater to the rising demand, inducing immense potential to the industry size till 2025. Third party retailers are likely to account for highest revenue share crossing $29 billion USD by 2025. Rising popularity of these retailers such as eBay and Amazon will primarily drive the industry growth. High revenue generation also can be attributed to the distinct services. Moreover, provision of benefits such as same day delivery will further strengthen the e-commerce automotive aftermarket penetration. Direct to customer will exhibit approximately 21 percent CAGR from 2018 to 2025. This can be attributed to high brand loyalty of the customers and provision of appropriate service facilities. The automotive aftermarket players such as Bosch are expanding their online platforms to enhance their visibility among the customers. B2C will account for maximum revenue share crossing $13 billion USD over the forecast timeline. Shifting preference of customers towards online purchase of these auto parts will primarily support the industry dominance. This can be attributed to the cost effectiveness of the online portals as compared to conventional stores. Fast query solving, and provision of technologically advanced products will further escalate the revenue generation. B to big B will exhibit more than 19 percent CAGR owing to provision of benefits such as fast delivery services. North America e-commerce automotive aftermarket size is anticipated to exhibit a CAGR of approximately 17 percent by 2025. Well-established internet infrastructure will pave stable growth prospects to the region’s growth. Presence of prominent e-commerce leaders such as Amazon will strengthen the industry growth over the coming years. Asia Pacific is likely to exhibit considerable share of more than $9 billion USD over the coming years. The substantial revenue generation can be attributed to growth in automobile industry along with rising internet penetration across the region. Napa Auto Parts, DENSO Corp., Amazon, eBay, Auto Zone and Advance Auto Parts are among the prominent participants in e-commerce automotive aftermarket. Partnerships and collaborations with online aftermarket players are among the strategies adopted by the industry players to enhance their visibility. For instance, in 2016, Hella Group collaborated with online auto-parts supplier, iParts.pl in order to expand its product line. Source: http://www.aftermarketnews.com/e-commerce-automotive-aftermarket-hit-30b-2025/ Report: https://www.gminsights.com/industry-analysis/e-commerce-automotive-aftermarket?utm_source=globenewswire.com&utm_medium=referral&utm_campaign=Paid_globenewswire
  14. Jan. 16, 2018—With the release of the "2017 Out-of-Cycle Review of Notorious Markets Report," the United States Trade Representative made the decision to relist Alibaba’s Taobao platform as a notorious market. The report, released on Friday, Jan. 12, identifies 43 online and physical markets around the world that engage in and facilitate substantial copyright piracy and trademark counterfeiting. Among other measures, USTR calls on Alibaba to consider banning widely-counterfeited products such as brake pads and other automotive parts not ordinarily sold on consumer-to-consumer marketplaces. Source: https://www.ratchetandwrench.com/articles/5672-ustr-relists-alibaba-as-counterfeit-market-for-auto-parts
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