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2017 AAPEX Product Plus & AAPEX Express
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By Counterman
DRiV, the aftermarket division of Tenneco, announced plans to increase coverage across its portfolio.
During 2023, DRiV intends to introduce more than 1,400 new part numbers that will provide millions of additional repair opportunities across six of its leading brands, including Wagner, Rancho, Fel-Pro, Monroe, Moog and Walker, the company said.
“For all our brands, our product engineers are constantly looking to develop, test, and implement new products to provide all our customers with the best options for their shops and repair bays,” said Bruce Ronning, senior vice president, sales and commercial operations and Americas Aftermarket, DRiV. “Through a rapid expansion of these product offerings, our goal is to lead the industry with the most comprehensive coverage across our brands so that shop owners and technicians will have a better selection of parts to provide to their own customers for a complete service repair – all backed by DRiV quality and consistency.”
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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 Counterman
Schaeffler Group USA has released a series of technical and service bulletins for the LuK product line.
The bulletins feature bleeding instructions, guided bleeding procedures and installation instructions for LuK slave cylinders, and DMF-to-solid-flywheel conversions.
In conjunction with its REPXPERT service brand, Schaeffler provides technical tips and service information for the LuK product line.
For more than 50 years, LuK has been one of the most trusted and recognized brands in the automotive aftermarket.
“The LuK product catalog now offers over 1,800 parts available in North America, providing repair solutions for a wide range of vehicles” said Mac Eash, Americas North sales manager.
“LuK is the world’s largest manufacturer of clutch components and dual-mass flywheels, bringing OE quality to the aftermarket,” added Jason Haney, Technical Services. “In conjunction with LuK, the Schaeffler REPXPERT brand provides an abundance of information supporting the three Schaeffler aftermarket categories: transmission, engine, and chassis.”
The REPXPERT service portal provides technical information about all Schaeffler products, as well as repair instructions to help with part replacement and problem diagnosis. To access these services and view the bulletins, visit
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By Counterman
Dana Incorporated introduced its Victor Reinz Reinzosil room-temperature vulcanizing (RTV) silicone to North American customers at the recent AAPEX and SEMA shows in Las Vegas.
“While Victor Reinz Reinzosil RTV silicone has been available for some time, it’s relatively new to the North American market and has quickly become a customer favorite for sealing surfaces in engines, transmissions, axles, cylinder liners and plastic housings,” said Bill Nunnery, senior director, sales and marketing, global aftermarket for Dana. “This is the first time Dana has featured Reinzosil RTV silicone for light-duty vehicles at AAPEX and SEMA, and it was a very positive experience. Customers told us they prefer it over the brand they have been using and that as a one-tube solution, it helps them reduce inventory and simplify the ordering process.”
Victor Reinz Reinzosil sealant is resistant to fluids, including mineral oils and synthetic oils, lubricants, gasoline, diesel oil, greases, water and detergents, and is safe for all sensors. Available in 70-milliliter tubes, it is ideal for use on two-dimensional flat surfaces where there is a sealing gap, such as gasket intersections and components originally sealed with RTV by the manufacturer, including intake manifolds, valve covers and oil pans, according to the company.
To learn more about
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By Counterman
Purolator Filters, a division of MANN+HUMMEL, received three Automotive Communication Awards at AAPEX 2022 in Las Vegas.
The categories included Best Article/Blog/Content Piece-Technical; Best Video; and Best Merchandising. Women in Auto Care (WiAC), an Auto Care Association community, presented the awards.
“Our goal is to continuously inform and educate while also entertain consumers and customers alike on the importance of choosing premium filters,” said Daryl Benton, vice president of sales and marketing automotive market – North America at MANN+HUMMEL Purolator Filters LLC. “We are honored to earn recognition for these efforts from WiAC, an organization dedicated to the empowerment and advancement of women in the auto care industry.”
Best Article/Blog/Content Piece
The award-winning Purolator article highlights the importance of full-synthetic oil-filter media with regard to filtration quality. Originally placed in late 2021, the article generated significant engagement and was highlighted in other digital publications in early 2022. The article showcases PurolatorBOSS oil filters, which feature SmartFUSION technology, and are engineered to be the ideal match for full-synthetic oils. Noting this, the article gives customers a deeper insight into the advantages of full-synthetic-media oil filters and passes along useful tips for technicians to share with their customers.
Best Merchandising
When PurolatorBOSS premium cabin air filters with Febreze Freshness were introduced, Purolator created a freestanding point-of-sale floor display to promote the product. The display contains high-end graphics and a quality finish with an application guide to assist consumers in finding the right filter for them.
The display also includes an informative take-home pamphlet for consumers to discover the role a cabin air filter plays in their vehicle. Many buyers gave significant feedback, noting the value of the Febreze partnership, and in turn, creating a dialogue that has led to significant purchases.
Best Video
Purolator also was honored with an award for creating a video that emphasizes the needs and concerns of consumers regarding clean air and vehicle performance. Filtering virus aerosols, dirt, debris, pollen and more, the video highlights PurolatorBOSS as a premium cabin air filter to rid these pollutants from a customer’s vehicle.
The video proved successful, as it garnered hundreds of thousands of views online and millions of impressions on digital TV. Gaining strong engagement on social media, Purolator’s video has continued to inform audiences on the importance of air decontamination.
The Women in Auto Care Awards Ceremony recognizes companies and agencies that provide automotive information through outstanding advertising, marketing, and public relations efforts. The awards cover several business-to-consumer and business-to-business categories. Recipients received recognition during the Women in Auto Care Automotive Communications Awards Ceremony during AAPEX.
The award-winning video can be viewed here:
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