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    • By APF
      Icahn Enterprises L.P. Issues Statement Regarding Auto Plus
      NEWS PROVIDED BY
      link hidden, please login to view Jan 31, 2023, 23:15 ET
        SUNNY ISLES BEACH, Fla., Jan. 31, 2023/PRNewswire/ -- Icahn Enterprises L.P. (Nasdaq:
      link hidden, please login to view) owns or controls a number of companies that have been quite successful over the years. However, in the case of IEH Auto Parts Holding LLC and its subsidiaries (collectively, "Auto Plus"), an aftermarket parts distributor held within the Automotive segment of IEP, various factors have negatively impacted this business as well as the industry in general, including lessened demand, supply chain disruptions, an inflationary environment and the effects of COVID-19. Therefore, on January 31, 2023, Auto Plus determined to file a voluntary chapter 11 case. This proceeding is limited to Auto Plus and will not have a significant impact on IEP. Since acquiring Auto Plus, IEP has invested significantly in transformation and restructuring initiatives and has loaned significant amounts to Auto Plus but has obviously been disappointed in the results of these investments and the continued losses that Auto Plus has experienced. As a result, IEP has determined that it would no longer be prudent to continue to loan money to Auto Plus at this juncture unless done in connection with a restructuring process. 
      Auto Plus expects to continue to operate its business in the ordinary course and also plans to run a sale process for substantially all of its assets during the chapter 11 case.
      Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in seven primary business segments: Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion and Pharma.
      Caution Concerning Forward-Looking Statements
      This release may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, many of which are beyond our ability to control or predict. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will" or words of similar meaning and include, but are not limited to, statements about the expected future business and financial performance of Icahn Enterprises and its subsidiaries. Actual events, results and outcomes may differ materially from our expectations due to a variety of known and unknown risks, uncertainties and other factors, including risks related to the Chapter 11 cases, including, but not limited to, obtaining bankruptcy court approval with respect to the motions in the Chapter 11 cases, the effects of the Chapter 11 cases on Auto Plus and IEP, and on the interests of various constituents, bankruptcy court rulings in the Chapter 11 cases and the outcome of the Chapter 11 cases in general, the length of time Auto Plus will operate under the Chapter 11 cases, risks associated with third-party motions in the Chapter 11 cases, the potential adverse effects of the Chapter 11 cases on Auto Plus's and IEP's liquidity or results of operations; Auto Plus's ability to obtain debtor-in possession financing and the amount, terms, and conditions of any such financing; the effects of disruption from the Chapter 11 cases making it more difficult to maintain business and operational relationships, to retain key executives, and to maintain various licenses and approvals necessary for Auto Plusto conduct its business; the consequences of the acceleration of Auto Plus's debt obligations, as well as economic downturns, substantial competition and rising operating costs; risks related to the severity, magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial markets and industries in which our subsidiaries operate; the impacts from the Russia/Ukraine conflict, including economic volatility and the impacts of export controls and other economic sanctions,; risks related to our investment activities, including the nature of the investments made by the private funds in which we invest, declines in the fair value of our investments as a result of the COVID-19 pandemic, losses in the private funds and loss of key employees; risks related to our ability to continue to conduct our activities in a manner so as to not be deemed an investment company under the Investment Company Act of 1940, as amended; risks related to our energy business, including the volatility and availability of crude oil, other feed stocks and refined products, declines in global demand for crude oil, refined products and liquid transportation fuels as a result of the COVID-19 pandemic, unfavorable refining margin (crack spread), interrupted access to pipelines, significant fluctuations in nitrogen fertilizer demand in the agricultural industry and seasonality of results; risks related to our automotive activities and exposure to adverse conditions in the automotive industry, including as a result of the COVID-19 pandemic; risks related to our food packaging activities, including competition from better capitalized competitors, inability of our suppliers to timely deliver raw materials, and the failure to effectively respond to industry changes in casings technology; supply chain issues; inflation, including increased costs of raw materials and shipping, including as a result of the Russia/Ukraine conflict; interest rate increases; labor shortages and workforce availability; risks related to our real estate activities, including the extent of any tenant bankruptcies and insolvencies; risks related to our home fashion operations, including changes in the availability and price of raw materials, and changes in transportation costs and delivery times; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission. Additionally, there may be other factors not presently known to us or which we currently consider to be immaterial that may cause our actual results to differ materially from the forward-looking statements. Past performance in our Investment segment is not indicative of future performance. We undertake no obligation to publicly update or review any forward-looking information, whether as a result of new information, future developments or otherwise.
      Investor Contact:
      Ted Papapostolou, Chief Financial Officer
      (305) 422-4100
      SOURCE Icahn Enterprises L.P.
       
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    • By Silvia
      I’m trying to find to which car do these aluminum trim plates belong to? They don’t have any number or information on the back so this makes really hard to find the car brand. They seem to be left and right pieces, I’m not sure about the placement on vehicle neither..


    • By Counterman
      Purolator Filters, a division of MANN+HUMMEL, announced that the company will be kicking off its 100-year anniversary celebration at this year’s Automotive Aftermarket Product Expo (AAPEX). 
      In 2023, Purolator will be commemorating 100 years of “Purifying Your World.” In 1923, Ernest Sweetland developed and patented the first oil-filtration system, calling it the “Purolator,” short for the words “pure oil later.” As years went on, the company continued to evolve, manufacture and distribute filters, such as air, cabin air and fuel filters for the automotive industry. 
      The global filtration company MANN+HUMMEL acquired Purolator Filters in 2012. Today, Purolator has more than 2,000 filtration part numbers for automotive, light-truck and heavy-duty applications, and continues to work on product innovation and design.
      “The company maintains and extends its position as a leader in the filtration market by producing top-quality products, offering first-class service and revolutionizing the future of filtration technology,” the company said in a news release. 
      Most recently, Purolator has maintained these assurances with the creation of PurolatorBOSSpremium cabin air filters with Febreze Freshness. With a focus on filtering out virus aerosols, this product also blocks and controls odors, while preventing 99% of fine particles from entering a vehicle’s cabin, according to the company.  
      “Purolator’s goal to strive for quality and innovative products began in 1923, and still continues nearly a century later,” said Daryl Benton, vice president of sales and marketing for the automotive aftermarket with MANN+HUMMEL. “We are thrilled to celebrate our 100-year milestone in 2023. Purolator has been able to maintain its role as a market leader with leading-edge technology and global manufacturing best practices. Through continued hard work and diligence, Purolator will thrive for another 100 years.”
      After a century of innovation, the celebration will kick off at AAPEX booth A1843. AAPEX is scheduled for Nov. 1-3 in Las Vegas.
      The post
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    • By Counterman
      In November 2020, Massachusetts voters overwhelmingly approved an update to the state’s landmark Right to Repair law, requiring automakers to provide a platform that enables motorists to access and control their vehicles’ telematics data.
      While the passage of Ballot Question 1 was a huge win for the automotive aftermarket, it’s unclear when the provisions of the legislation will see the light of day.
      After voters approved the ballot measure by a 75% to 25% margin, a coalition of automakers – the Alliance for Automotive Innovation – filed a lawsuit seeking to overturn the ballot question based on a litany of allegations, including cybersecurity concerns; insufficient time to comply with the new data-access requirements; and their contention that the ballot initiative is preempted by federal law.
      Over the past two years, the automakers have managed to keep the case tied up in court. Attorney General Maura Healey has idled the legislation until the lawsuit is resolved.
      Recently, it was reported that the Alliance for Automotive Innovation and the state attorney general’s office have submitted scheduling proposals for further proceedings in the litigation.
      In its proposal, the
      link hidden, please login to view states: “While it remains the plaintiff’s position that the OEMs cannot comply with the plain language of the Data Access Law without violating their safety obligations under the Vehicle Safety Act, plaintiff understood the court to request a more robust discussion of the statutory interpretation issues that hopefully could narrow areas of disagreement. We are not off to an encouraging start. Worse, the attorney general couples her reiterated interpretations with an accelerated schedule that will ensure this endeavor fails. The attorney general’s proposed schedule simply does not allow time for a deeper dive on these interpretation questions.” The alliance proposed being given until Sept. 22 to review and reply to the AG’s proposal with the hopes of conferring and submitting a single clarified document on or before Oct. 14.
      “It’s been nearly two years since the people of Massachusetts voiced their strong desire for more choice and competition when it comes to auto repairs,” Justin Rzepka, executive director of the CAR Coalition, said in response to the latest activity in the case. “As this case continues to drag on, Congress cannot wait – it must act on federal Right to Repair solutions, like the REPAIR and SMART Acts, to restore choice and empower businesses to service car owners that want options.”
      Meanwhile, in Washington, D.C., the Committee on Small Business Subcommittee on Underserved, Agricultural, and Rural Business Development will hold a 
      link hidden, please login to view on Right to Repair at 10 a.m. EST on Wed., Sept. 14. Witnesses include the executive director of the Repair Association, which  link hidden, please login to view, along with representatives from a New Hampshire-based tech shop and Maine family farm. The post
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    • eManualonline.com - Save 5% OFF on orders Over $50, Use Code Blaze. Ends 12/31/22.
    • By Counterman
      MAHLE has upped the ante on the Aftermarket Auto Parts Alliance “Jackpot VIP” experience by choosing three additional winners.
      In a few weeks, the automotive aftermarket will descend on Las Vegas to attend the 2022 AAPEX show, and the Alliance will hold their Aftermarket Jackpot Convention, hosting more than 4,000 technicians, shop owners, warehouse distributors and channel partners.
      While 20 Jackpot VIP winners were already named in March and April, MAHLE stepped up to award three additional VIP winners: one for March, one for April and one for May, the Aftermarket Auto Parts Alliance announced. These winners will receive a white-gloved experience with airfare, airport transportation, luxurious hotel accommodations, meals, access to the Jackpot Convention, meet-and-greets and participation in the famed “big walk” to the AAPEX show floor.
      Congratulations to Billings Service Center in Bath, Pennsylvania (Eastern Warehouse Distributors); Granite City Tire and Auto in St. Cloud, Minnesota (Automotive Parts Headquarters); and Jay’s Speed Shop in Calgary (Central Auto Parts Distributors) for being named MAHLE VIP winners!
      During the MAHLE sponsored promotion, each $100 of MAHLE product purchased through MyPlace4Parts throughout March 1-May 31, earned entries to be one step closer to claiming the Choice of Champions grand prize. Plus, the Choice of Champions winners will have exclusive opportunities like meeting Richard Petty, Vaughn Gittin Jr. and Casey Currie, as well as a spin on the drift course with Vaughn himself.
      ”MAHLE Aftermarket values every relationship we have with our channel partners, especially longtime partners like the Aftermarket Auto Parts Alliance. Their member companies represent some of the biggest names in warehouse distribution and being able to partner with them to reward technicians for their commitment to MAHLE was an easy call. We look forward to meeting our winners in person and celebrating our partnership and this great industry at the upcoming AAPEX Show,” said Jon Douglas, president of MAHLE Aftermarket in North America.
      “We cannot say thank you enough to our partners at MAHLE for their continued support of our Aftermarket Jackpot Convention,” says JC Washbish, vice president of sales and marketing for the Alliance. “It’s exciting to help a valued channel partner reward their customers in such a thrilling way.”
      For more information on MAHLE’s Choice of Champions Sweepstakes, visit
      link hidden, please login to view. For more information on attending the Aftermarket Jackpot Convention, visit
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