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  1. - Record Sales of $4.8 Billion, Up 18% - Genuine Parts Company Reports Record Sales And Earnings For The Second Quarter Ended June 30, 2018 - Record Sales of $4.8 Billion, Up 18% - - Record Diluted EPS $1.54 - - Adjusted EPS Excluding Transaction-Related Costs $1.59, Up 23% - - Raises 2018 Sales Expectations and Reiterates EPS Outlook - Jul 19, 2018 ATLANTA, July 19, 2018 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today sales and earnings for the second quarter and six months ended June 30, 2018. Sales for the second quarter ended June 30, 2018 were a record $4.8 billion, a 17.6% increase compared to $4.1 billion for the same period in 2017. Net income for the second quarter was $227.0 million and earnings per share on a diluted basis were $1.54, also a new record. Before the impact of certain transaction and other costs incurred related to the Company's fourth quarter 2017 acquisition of Alliance Automotive Group (AAG) in Europe and the pending transaction to spin-off the Company's Business Products Group, S.P. Richards, adjusted net income was $233.6 million, or $1.59 per diluted share. Total sales for the second quarter included 3% comparable growth, 14% from acquisitions, including AAG, and a 0.5% benefit from foreign currency translation. Second quarter sales for the Automotive Group were up 27.7%, including a 2.1% comparable sales increase as well as the benefit of acquisitions and a slightly favorable foreign currency translation. Sales for the Industrial Group were up 8.7%, including a 6.5% comparable sales increase, and sales for the Business Products Group were flat with the prior year quarter in both total and comparable sales. Paul Donahue, President and Chief Executive Officer, commented, "We are pleased to report another quarter of record sales, driven by the favorable impact of strategic acquisitions and improved organic sales trends across our business segments. The positive shift in the underlying sales environment in the automotive business is especially encouraging and, combined with the execution of our plans to drive operating improvement, including plans to address our automotive margin, we are optimistic for improved margin trends as we move ahead." Sales for the six months ended June 30, 2018 were $9.4 billion, a 17.5% increase compared to $8.0 billion for the same period in 2017. Net income for the six months was $403.5 million and earnings per share on a diluted basis were $2.74. Before the transaction and other costs discussed above, adjusted net income was $420.0 million, or $2.85 per diluted share, for the six months. Mr. Donahue concluded, "We enter the second half of 2018 excited for the opportunities ahead at GPC. As we move forward with the planned spin-off of our Business Products Group, we remain committed to our core growth and higher-margin global automotive and industrial businesses. To this end, we are focused on the further strengthening of our core sales growth, maximizing the benefits of our acquisitions and effectively reducing our cost structure to improve our operating results and enhance our long-term sales and profit outlook." 2018 Outlook The Company is raising its sales guidance to be up 13% to 14%, an increase from the prior guidance of up 12% to 13%. The Company expects diluted earnings per share to range from $5.49 to $5.64 and is reiterating its earnings guidance for adjusted diluted earnings per share, which excludes any transaction-related costs, of $5.60 to $5.75. The Company currently expects a tax rate of approximately 25.0%, which is down slightly from the prior guidance of approximately 26.0% for 2018. Non-GAAP Information This release contains certain financial information not derived in accordance with United States generally accepted accounting principles ("GAAP"). These items include adjusted net income and adjusted diluted earnings per share. The Company does not, nor does it suggest investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, GAAP financial information. The Company believes that the presentation of adjusted net income and adjusted diluted earnings per share provides meaningful supplemental information to both management and investors that is indicative of the Company's core operations. The Company has included a reconciliation of this additional information to the most comparable GAAP measure following the financial statements below. Conference Call Genuine Parts Company will hold a conference call today at 11:00 a.m. EDT to discuss the results of the quarter and the future outlook. Interested parties may listen to the call on the Company's website, www.genpt.com, by clicking "Investors", or by dialing 877-407-0789, conference ID 13681125. A replay will also be available on the Company's website or at 844-512-2921, conference ID 13681125, two hours after the completion of the call until 12:00 a.m. EDT on August 3, 2018. Forward Looking Statements Some statements in this report, as well as in other materials we file with the Securities and Exchange Commission (SEC) or otherwise release to the public and in materials that we make available on our website, constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Senior officers may also make verbal statements to analysts, investors, the media and others that are forward-looking. Forward-looking statements may relate, for example, to the proposed business combination transaction between the Company and Essendant, Inc. ("Essendant") in which the Company will spin-off its Business Products Group and combine this business with Essendant or the acquisition of Alliance Automotive Group (AAG) and the anticipated strategic benefits, synergies and other attributes of these transactions, as well as future operations, prospects, strategies, financial condition, economic performance (including growth and earnings), industry conditions and demand for our products and services. The Company cautions that its forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Actual results or events may differ materially from those indicated as a result of various important factors. Such factors may include, among other things, the Company's ability to successfully integrate AAG into the Company and to realize the anticipated synergies and benefits; changes in the European aftermarket; the Company's ability to complete the transaction to spin-off its Business Products Group and combine it with Essendant, particularly in light of Staples, Inc.'s announced offer to acquire Essendant; the Company's ability to successfully implement its business initiatives in each of its three business segments; slowing demand for the Company's products; changes in national and international legislation or government regulations or policies, including potential import tariffs and data security policies and requirements; changes in general economic conditions, including unemployment, inflation (including the impact of potential tariffs) or deflation; changes in tax policies; volatile exchange rates; significant cost increases, such as rising fuel and freight expenses; labor shortages; uncertain credit markets and other macroeconomic conditions; competitive product, service and pricing pressures; the ability to maintain favorable vendor arrangements and relationships; disruptions in our vendors' operations, including the impact of potential tariffs and trade considerations on their operations and output, as required to meet product demand; the Company's ability to successfully integrate its other acquired businesses; the uncertainties and costs of litigation; disruptions caused by a failure or breach of the Company's information systems, as well as other risks and uncertainties discussed in the Company's Annual Report on Form 10-K for 2017 and from time to time in the Company's subsequent filings with the SEC. Forward-looking statements are only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K and other reports to the SEC. About Genuine Parts Company Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also distributes industrial replacement parts and electrical and electronic materials in the U.S., Canada and Mexico through its Industrial Products Group, comprised of Motion Industries and EIS, Inc. S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and Canada. View the full article
  2. Leading automotive aftermarket parts provider recognizes four brand partners ROANOKE, Va.--(BUSINESS WIRE)--Jun. 26, 2018-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers, presented its 2018 Vendor of the Year awards during the company’s annual Supplier Summit held recently in Raleigh, North Carolina. During the event, Advance honored four companies for their partnership and performance, including BP-Lubricants Castrol as the prestigious “Vendor of the Year.” The 2018 Vendor of the Year award was presente... View the full article
  3. GPC's Alliance Automotive Group Enters Definitive Agreement to Acquire German Hennig Fahrzeugteile Group Jun 7, 2018 ATLANTA, June 7, 2018 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today an acquisition for its European Automotive business. Alliance Automotive Group (AAG), the Company's wholly-owned automotive distribution company based in London, U.K., has entered into a definitive agreement to acquire Hennig Fahrzeugteile Group. The transaction is expected to close by August 1, 2018, and is contingent upon satisfaction of customary closing conditions and receipt of applicable regulatory approvals. Hennig Fahrzeugteile Group, headquartered in Essen, North Rhine-Westphalia, is one of Germany'sleading suppliers of light and commercial vehicle parts. Hennig Fahrzeugteile has 31 branches across Germany and serves more than 9,000 customers, predominantly independent workshops and retailers. The Company expects the acquired business to generate annual revenues of approximately $190 million (US$). Paul Donahue, Chief Executive Officer of Genuine Parts Company, stated, "Hennig Fahrzeugteile Group is a premier supplier of vehicle parts in the German marketplace, and the addition of this business serves to further expand our presence and scale in Europe as we build on our global growth strategy. We are pleased to welcome the Hennig Fahrzeugteile team into the AAG and GPC family and expect the combination of our organizations to be a great fit, both financially and strategically. We look forward to the many contributions the Hennig Fahrzeugteile team will make in the years ahead." Jean-Jacques Lafont, Chief Executive Officer of Alliance Automotive Group added, "We look forward to welcoming Hennig Fahrzeugteile Group to the AAG organization. With this acquisition we continue our expansion in Germany and add another competitive network to serve our customers." Forward Looking Statements Some statements in this report, as well as in other materials we file with the Securities and Exchange Commission (SEC) or otherwise release to the public and in materials that we make available on our website, constitute forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Senior officers may also make verbal statements to analysts, investors, the media and others that are forward-looking. Forward-looking statements may relate, for example, to the proposed business combination transaction between the Company and Essendant, Inc. ("Essendant") in which the Company will spin-off its Business Products Group and combine this business with Essendant or the acquisition of Alliance Automotive Group (AAG) and the anticipated strategic benefits, synergies and other attributes of these transactions, as well as future operations, prospects, strategies, financial condition, economic performance (including growth and earnings), industry conditions and demand for our products and services. The Company cautions that its forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Actual results or events may differ materially from those indicated as a result of various important factors. Such factors may include, among other things, the Company's ability to successfully integrate AAG into the Company and to realize the anticipated synergies and benefits; changes in the European aftermarket; the Company's ability to complete the transaction to spin-off its Business Products Group; the Company's ability to successfully implement its business initiatives in each of its three business segments; slowing demand for the Company's products; changes in legislation or government regulations or policies; changes in general economic conditions, including unemployment, inflation or deflation; changes in tax policies; volatile exchange rates; high energy costs; uncertain credit markets and other macro-economic conditions; competitive product, service and pricing pressures; the ability to maintain favorable vendor arrangements and relationships; disruptions in our vendors' operations; the Company's ability to successfully integrate its acquired businesses; the uncertainties and costs of litigation; disruptions caused by a failure or breach of the Company's information systems, as well as other risks and uncertainties discussed in the Company's Annual Report on Form 10-K for 2017 and from time to time in the Company's subsequent filings with the SEC. Forward-looking statements are only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K and other reports to the SEC. About Genuine Parts Company Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also distributes industrial replacement parts and electrical and electronic materials in the U.S., Canada and Mexico through its Industrial Products Group. S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and Canada. Genuine Parts Company had 2017 revenues of $16.3 billion. Further information is available at www.genpt.com. About Alliance Automotive Group Alliance Automotive Group is a leading distributor of light and commercial vehicle parts to the independent aftermarket in France, Germany, the U.K., and Poland, doing business under the Groupauto France, Précisium, Partners and Gef'Auto brands in France, Groupauto UK, UAN and FPS in the UK, Alliance Automotive Group Germany in Germany and Groupauto Poland in Poland. AAG serves approximately 40,000 garages with over 100,000 different parts for repair and maintenance from a network of more than 300 company-owned stores and approximately 1,800 affiliated outlets. Further information is available at www.allianceautomotivegroup.eu. SOURCE Genuine Parts Company For further information: Carol B. Yancey, Executive Vice President and CFO - (678) 934-5044; Sidney G. Jones, Senior Vice President - Investor Relations - (678) 934-5628 View the full article
  4. MEMPHIS, Tenn., May 31, 2018 (GLOBE NEWSWIRE) -- AutoZone (NYSE:AZO) recognized 14 of its top suppliers at the annual AutoZone Vendor Summit on May 15, 2018, in Memphis, Tenn. Each company was selected for demonstrating exceptional collaboration, innovation and commitment to customer satisfaction throughout the last year. Seven vendors received AutoZone WITTDTJR® awards (“What It Takes to Do the Job Right”): ACDelco; Big Time Products LLC; NGK Spark Plugs (U.S.A.), Inc.; Moveras LLC; AVA Enterprises, Inc.; Car-Freshner Corp; and Valvoline Inc. These vendors consistently ensured that AutoZone’s Do-It-Yourself (“DIY”) customers and professional installers have the parts and products necess... View the full article
  5. AutoZone Sponsored Car Enters the Race MEMPHIS, Tenn., May 31, 2018 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO) today announced the company will sponsor the #14 Trey Hutchens race car in the upcoming Memphis 150 presented by AutoZone on Saturday, June 2 at Memphis International Raceway. Trey Hutchens is a 19-year-old, fourth-generation racecar driver from Lexington, NC who is entering his tenth year of racing. Trey is becoming one of NASCAR’s most highly recruited talents. Hutchens' career has extended from the likes of USAC Quarter Midgets all the way to the NASCAR Camping World Truck Series. He earned 2015 NASCAR Whelen Modified Tour “Rookie of the Year,” and was awarded back-to-back... View the full article
  6. LKQ Corporation to Host 2018 Investor Day May 24, 2018 CHICAGO, May 24, 2018 (GLOBE NEWSWIRE) -- On Thursday, May 31, 2018 at 9:45 a.m. (U.K. time), LKQ Corporation (Nasdaq:LKQ) will host an Investor Day in Tamworth, England with presentations given by Dominick Zarcone, President and Chief Executive Officer, and other members of executive management. The presentations, including a question and answer session, are expected to conclude at approximately at 2:15 p.m. (U.K. time). Webcast and Presentation Details The audio webcast and accompanying slide presentation can be accessed at www.lkqcorp.com in the Investor Relations section. An online replay of the audio webcast will be available on the Company's website through May 31, 2019. Please allow approximately two hours after the live presentation before attempting to access the replay. About LKQ Corporation LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles. Joseph P. Boutross LKQ Corporation Vice President, Investor Relations (312) 621-2793 [email protected] Source: LKQ Corporation View all Press Releases View the full article
  7. MEMPHIS, Tenn., May 22, 2018 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO) today reported net sales of $2.7 billion for its third quarter (12 weeks) ended May 5, 2018, an increase of 1.6% from the third quarter of fiscal 2017 (12 weeks). Domestic same store sales, or sales for stores open at least one year, increased 0.6% for the quarter. Net income for the quarter increased 10.6% over the same period last year to $366.7 million, while diluted earnings per share increased 17.3% to $13.42 per share from $11.44 per share in the year-ago quarter. Net income and diluted earnings per share benefitted from a lower effective income tax rate, primarily due to the recent tax reform. For the q... View the full article
  8. First Quarter Net Sales of $2.9B; Gross Profit of $1.3B Operating Income Increased 10.3% to $198.2M, Adjusted Operating Income Increased 9.3% to $224.1M Diluted EPS Increased 26.0% to $1.84; Adjusted EPS Increased 31.3% to $2.10 ROANOKE, Va.--(BUSINESS WIRE)--May 22, 2018-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, today announced its financial results for the first-quarter ended April 21, 2018. “We are pleased to report another quarter of operational improvement as... View the full article
  9. GPC Discloses Proposed Enhanced Terms to Merger Agreement for S.P. Richards Transaction with Essendant May 16, 2018 ATLANTA, May 16, 2018 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) ("GPC") today commented on its previously announced definitive merger agreement (the "Merger Agreement") to combine GPC's S.P. Richards business (the "Business Products Group") with Essendant (NASDAQ: ESND) in response to the announcement of Staples, Inc.'s conditional, non-binding proposal to acquire Essendant for $11.50 per share in cash. Staples is privately owned by Sycamore Partners, which filed a Schedule 13D reporting its acquisition of a 9.9% ownership stake in Essendant. GPC issued the following statement: As announced on April 12, 2018, GPC entered into a definitive agreement to combine our S.P. Richards business with Essendant. We are confident that combining the best elements of both businesses will create an even stronger company with the ability to capitalize on opportunities to create value for all of our stakeholders. We continue to make progress on our integration planning, and we remain committed to completing this transaction, which is on track to close before the end of 2018. On May 7, 2018, GPC demonstrated its confidence in the upside value creation of this merger by proposing to Essendant enhanced transaction terms under which, in addition to owning 49% of the combined company on a diluted basis, Essendant shareholders would receive a Contingent Value Right ("CVR") for each Essendant share held immediately prior to the closing of the transaction. Through the CVR, GPC would provide Essendant shareholders with a potential cash payment of up to $4.00 per CVR based on how Essendant shares trade during a 20-day measurement period at the later of the end of 2019 or 12 months from the closing of the transaction. The cash payment would be equal to $12.00 minus the greater of the weighted average share price of the combined company during the measurement period or $8.00. We do not believe Staples' conditional, non-binding proposal to acquire Essendant for $11.50 per share in cash to be a superior proposal nor reasonably likely to lead to a superior proposal as defined under the terms of the Merger Agreement. Indeed, given the proposed enhanced terms and the expected financial benefits of more than $75 million in annual run-rate cost synergies and more than $100 million in working capital improvements, we are confident that the merger between S.P. Richards and Essendant delivers superior value to Essendant's shareholders. Based on our preliminary analysis, we estimate an implied trading multiple for the combined company of approximately 8.0x EBITDA, in which case these expected synergies would result in an additional $700 million in shareholder value, or approximately $8.75 per share.1 Further, as a stronger, more competitive business products distributor with greater scale and service capabilities, the combined company will have an enhanced ability to support customers, including: Greater resources to support and partner with the independent dealer channel and resellers in other sales channels, and to make investments to drive enhanced value for customers, consumers and shareholders; Optimized product assortment of branded and private-label products across a broad set of categories; Enhanced capability to develop and offer innovative solutions to customers, including value-added marketing and analytics to drive demand; and Consolidated distribution network with greater efficiencies throughout the entire supply chain. Through increased scale, improved service capabilities and an enhanced financial profile, the combination of S.P. Richards and Essendant will drive more profitable growth and create meaningful value for shareholders over the long term. J.P. Morgan is acting as financial advisor and Davis Polk & Wardwell LLP is acting as legal counsel to GPC. Cautionary Statement This press release contains forward-looking statements, including statements regarding the proposed business combination transaction between GPC and Essendant in which GPC will separate its Business Products Group and combine this business with Essendant. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions believed at that time to be valid. Forward-looking statements may include references to goals, plans, strategies, objectives, projected costs or savings, anticipated future performance, results, events or transactions of Essendant or the combined company following the proposed transaction, the anticipated benefits of the proposed transaction, including estimated synergies, the expected timing of completion of the transaction and other statements that are not strictly historical in nature. These forward-looking statements are based on management's current expectations, forecasts and assumptions. This means they involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied here, including but not limited to: the occurrence of events that may give rise to a right of one or both of GPC and Essendant to terminate the Merger Agreement, including Staples' proposal to acquire Essendant, the ability of GPC and Essendant to receive the approval of Essendant's stockholders and required regulatory approvals for the proposed transaction and to satisfy the other conditions to the closing of the transaction on a timely basis or at all; negative effects resulting from the transaction process (including announcements such as this press release) or the consummation of the transaction on the market price of GPC's or Essendant's common stock and/or on their respective businesses, financial condition, results of operations and financial performance; risks relating to the value of the Essendant shares to be issued in the transaction, significant transaction costs and/or unknown liabilities; the possibility that the anticipated benefits from the proposed transaction cannot be realized in full or at all or may take longer to realize than expected; risks associated with contracts containing consent and/or other provisions that may be triggered by the proposed transaction; risks associated with transaction related litigation; the possibility that costs or difficulties related to the integration of the businesses will be greater than expected; and the ability of the combined company to retain and hire key personnel. There can be no assurance that the proposed transaction or any other transaction described above will in fact be consummated in the manner described or at all. Stockholders, potential investors and other readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, please see GPC's and Essendant's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC and other written statements made by GPC and/or Essendant from time to time. The forward-looking information provided by the Company is given as of this date only, and GPC does not undertake any obligation to revise or update it. Additional Information In connection with the proposed transaction, Essendant will file with the SEC a registration statement on Form S-4 containing a proxy statement/prospectus of Essendant, and Rhino SpinCo Inc. ("SpinCo"), a wholly owned subsidiary of GPC created for the proposed transaction, will file with the SEC a registration statement on Form 10. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENTS, THE PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain the registration statements and the proxy statement/prospectus free of charge from the SEC's website or from GPC or Essendant. The documents filed by Rhino SpinCo Inc. with the SEC may be obtained free of charge at GPC's website at www.genpt.com, at the SEC's website at www.sec.gov or by contacting GPC's Investor Relations Department at (678) 934-5000. The documents filed by Essendant with the SEC may be obtained free of charge at Essendant's website at www.essendant.com, at the SEC's website at www.sec.gov or by contacting Essendant's Investor Relations Department at (847) 627-2900. Participants in the Solicitation GPC, Essendant and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about GPC's directors and executive officers is available in GPC's proxy statement for its 2018 annual meeting of shareholders, which was filed with the SEC on February 27, 2018. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the registration statements, the proxy statement/prospectus and other relevant documents to be filed with the SEC regarding the proposed transaction. Information about Essendant's directors and executive officers is available in Essendant's proxy statement for its 2018 annual meeting of stockholders, which was filed with the SEC on April 13, 2018. No Offer or Solicitation This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended. About GPC Genuine Parts Company is a distributor of automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Germany and Poland. The Company also distributes industrial replacement parts and electrical and electronic materials in the U.S., Canada and Mexico through its Industrial Products Group. S.P. Richards Company, the Business Products Group, distributes a variety of business products in the U.S. and Canada. _______________________________________________ 1 As stated in the April 12, 2018 press release, the combined company expects to incur less than $50 million in one-time cash costs to realize synergies. SOURCE Genuine Parts Company For further information: Contacts: Carol B. Yancey, Executive Vice President and CFO - (678) 934-5044; Sidney G. Jones, Senior Vice President - Investor Relations - (678) 934-5628 View the full article
  10. MEMPHIS, Tenn., May 15, 2018 (GLOBE NEWSWIRE) -- AutoZone, Inc. (NYSE:AZO), today announced the appointment of Gale V. King and Jill Soltau to the AutoZone Board of Directors. “The additions of Gale and Jill to our Board of Directors will further enhance the depth of experiences and the diversity of skill sets represented on our Board,” said Bill Rhodes, Chairman, President, and Chief Executive Officer. “We are very fortunate to be able add these two exceptional leaders to our Board.” Gale King is Executive Vice President and Chief Administrative Officer (CAO) for Nationwide, a Fortune 68 financial services company, overseeing their Human Resources, Corporate Real Estate, Corporate Sec... View the full article
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