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By Auto News
In the era of online shopping when countless holiday gifts are available at the click of a button, putting in a little extra time and legwork can mean a lot. The Car Care Council offers these thoughtful and practical ideas for gift-givers who want to go beyond a simple mouse click for their family and friends this holiday season.
“We live such busy and stressful lives these days and sometimes simply taking a chore off of someone’s plate can be the most thoughtful gift,” said Rich White, executive director, Car Care Council. “The gift of car care will not only let your family and friends check an important task off their list, but it will help keep them safe on the road.”
An oil change and inspection: Regular oil changes are the best way to keep a car running in peak condition, but some drivers find it to be an onerous chore. If this sounds like someone you know, an oil change and inspection may be the perfect gift. Whether you take their car to a trusted professional technician or do it yourself, your family and friends will appreciate the time and effort you put into their gift.
A car wash and detail: Keeping a vehicle clean and detailed helps protect the paint, interior and wheels from harsh weather and damaging chemicals. A busy driver in your life will appreciate you taking the time to have their car professionally cleaned and detailed or doing it yourself.
A roadside emergency kit: For the traditionalist who can’t imagine a gift that isn’t wrapped up and under the tree, the Car Care Council suggests putting together a roadside emergency kit, including items such as jumper cables; emergency flares; a flashlight with batteries; blankets and extra clothes; water and non-perishable snacks; a first aid kit; a portable USB charger; an ice scraper, snow brush and small shovel; and the council’s Car Care Guide, available free of charge at www.carcare.org.
The non-profit Car Care Council is the source of information for the “Be Car Care Aware” consumer education campaign promoting the benefits of regular vehicle care, maintenance and repair to consumers. For the latest car care news, visit the council’s online media room at http://media.carcare.org. To order a free copy of the popular Car Care Guide, visit the council’s consumer education website at www.carcare.org.
The post Car Care for Christmas: Go the Extra Mile for a Driver in Your Life appeared first on Be Car Care Aware.
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By Auto News
Inenco Group Provides Accretive Industrial Expansion and Opportunities for Synergies Across Businesses
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Genuine Parts Company Enters Into Definitive Agreement To Complete Acquisition Of Leading Industrial Distributor In AustralasiaBy Auto News
Inenco Group to Provide Accretive Industrial Expansion
May 22, 2019
ATLANTA, May 22, 2019 /PRNewswire/ -- Genuine Parts Company (NYSE: GPC) announced today that it has entered into a definitive agreement to acquire the remaining 65% stake of Inenco Group (Inenco), headquartered in Sydney, Australia.
The Company previously purchased a 35% stake in Inenco on April 3, 2017, and held the opportunity to acquire the remaining stake at a later date, subject to certain conditions being satisfied. The Company expects to finance the balance of the purchase price using a combination of cash and borrowings. Subject to the satisfaction of customary closing conditions, the acquisition is expected to close on July 1, 2019.
Inenco Group, founded in 1954, is one of Australasia's leading industrial distributors of key product categories such as bearings, power transmission and seals. It has more than 160 locations across Australia and New Zealand as well as an emerging presence in Asia and generates estimated annual revenues of approximately $400 million.
Paul Donahue, Chairman and Chief Executive Officer of Genuine Parts Company, stated, "We are very pleased to enter the final phase of our Inenco Group acquisition. Given our successful partnership with Inenco over the last two years, we believe that 100% ownership of the company best positions us to participate in the large and growing industrial marketplace in Australasia. Inenco is a market leader with an experienced and talented management team and significant growth potential and makes for a tremendous addition to our global industrial portfolio. We want to welcome the Inenco team to the GPC family, and we look forward to their many future contributions."
Roger Jowett, Chief Executive Officer of Inenco, commented, "As we complete the sale of our company, we are excited to join the GPC family and further build on our already strong relationship. The combination of GPC and Inenco is an excellent cultural and strategic fit, and we look forward to growing our business together."
Mitchel Martin-Weber, Director of Inenco, added, "On behalf of the Directors, we are delighted for Inenco and its employees to join GPC. The business and people will be in very good hands under GPC's ownership."
Forward Looking Statements
Some statements in this press release, 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 anticipated strategic benefits, synergies and other attributes resulting from this and other acquisitions, 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 Inenco and prior acquisitions into the Company and to realize the anticipated synergies and benefits; changes in the automotive aftermarket or changes in the industrial or business products markets; 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 new import tariffs and data security policies and requirements; changes in general economic conditions, including unemployment, inflation (including the impact of potential tariffs) or deflation and the United Kingdom's referendum to exit from the European Union, commonly known as Brexit; changes in tax policies; volatile exchange rates; volatility in oil prices; 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 tariffs and trade considerations on their operations and output, as required to meet product demand; failure or weakness in our disclosure controls and procedures and internal controls over financial reporting; 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 2018 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 specialty 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 2018 revenues of $18.7 billion. Further information is available at www.genpt.com.
About Inenco Group
Founded in 1954, Inenco Group is a leading industrial distributor of bearings, power transmission and seals in Australia. Headquartered in Sydney, Australia, Inenco has more than 160 locations with distribution coverage across Australia and New Zealand, as well as an emerging presence in Asia. Inenco offers more than 350,000 products to over 55,000 diverse customers in key end markets, including the mining, manufacturing, agriculture and food and beverage industries. Further information is available at www.inencogroup.com.au.
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
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By Erica Zhu Feilong Jiangli
Solar Edge announced that consumers of electric vehicles (EV) can now use Google Assistant to control their solar inverters for charging electric vehicles. Solo Technologies Co., Ltd. is one of the first companies to integrate the charging function of electric vehicles with Google assistants.
Solar Technologies provides the world's first solar energy inverters for charging electric vehicles. Through innovative solar boost modes, the inverters charge six times faster than standard level 1 chargers. Integrating this technology into Google Assistants can simplify the charging process of electric vehicles for consumers and meet the needs of smart energy solutions.
Lior Handelsman, founder of Solo Technologies and vice president of marketing and product strategy, said: "Smart home mainly provides convenience and interconnection, but the next step for smart home is to integrate smart energy management solutions such as electric vehicle charging. By working with Google to combine the convenience of smart home with the value of smart energy, Solar Technology can enable more people to use smart solar energy and be in the leading position in this field.
Now, consumers can communicate with Google assistants to start or stop charging electric vehicles. Solo Technologies also plans to add other features to Google's assistant commands, such as querying the charging status of electric vehicles, checking the average mileage that can be reached during the charging process, and booking the charging ahead of time.
Advance Auto Parts, Inc. (NYSE: AAP) has acquired the DieHard brand from Transform Holdco LLC (“Transformco”), for $200 million utilizing cash on hand.
“We are excited to acquire global ownership of an iconic American brand. DieHard will help differentiate Advance, drive increased DIY customer traffic and build a unique value proposition for our Professional customers and Independent Carquest partners. DieHard has the highest brand awareness and regard of any automotive battery brand in North America and will enable Advance to build a leadership position within the critical battery category,” said Tom Greco, president and CEO, Advance Auto Parts. “DieHard stands for durability and reliability and we will strengthen and leverage the brand in other battery categories, such as marine and recreational vehicles. We also see opportunities to extend DieHard in other automotive categories. We remain committed to providing our customers with high-quality products and excellent service. The addition of DieHard to our industry leading assortment of national brands, OE parts and owned brands will enable us to differentiate Advance and drive significant long-term shareholder value.”
AmazonBasics High Mileage Motor Oil - Synthetic Blend
AmazonBasics high-mileage synthetic-blend motor oil offers an enhanced level of protection for engines over 75,000 miles. Its synthetic blend combines conventional oil with synthetic for cost efficiency with some of the benefits of a full synthetic. An important part of routine maintenance, the motor oil works well for anything from topping off levels to complete oil changes. Whether it’s a beloved older vehicle or one with an uncertain maintenance history, help protect its engine with AmazonBasics high-mileage, synthetic-blend motor oil.
When selecting parts for a car repair, it pays to know the differences between original and aftermarket parts. Whenever possible, get estimates for both.
Choosing between original and aftermarket car parts — and even used parts of either type — is all about squaring your priorities with your budget.
You’ll have different options depending on the part and the shop. And the best choice will depend on whether you’re trying to keep repairs cheap, restore your car’s appearance after a wreck or soup up your ride.
Original equipment manufacturer (OEM) parts match those that came with your car, and are of the same quality as its original parts. They’re also the most expensive.
The factory-recommended replacement intervals for filters can vary quite a bit depending on the year, make and model of the vehicle, as well as how it is driven. As a rule, older vehicles (those more than 15 to 20 years old) typically have more frequent service intervals than newer vehicles. Why? Because late-model vehicles require less maintenance, thanks to improvements in motor oils, transmission fluids, engine design and filter media.
Many long-life air and oil filters use synthetic fiber media or a blend of cellulose and synthetic fibers to extend filter life.
Changing the oil and filter every 3,000 miles was standard practice decades ago. But it’s no longer necessary because most multi-viscosity oils today are a synthetic blend or a full synthetic that resist viscosity breakdown and oxidation for a much longer period of time. Late-model fuel-injected engines also run much cleaner than their carbureted ancestors, which reduces oil contamination in the crankcase.
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.