ACtion Magazine - April 2014 - (Page 44)

Continental to buy Veyance Continental AG of Hanover, Germany, has signed an agreement to acquire Veyance Technologies Inc. of Fairlawn, Ohio, USA, for $1.9 billion. The business of Veyance comprises engineering, manufacturing and sales of products made of rubber and plastics, predominantly for industrial applications. In 2013, Veyance Technologies Inc. generated revenues of approximately $2 billion, of which more than 50% is allocable to the NAFTA-Region. The business has approx. 9,000 employees and has production and engineering facilities in the U.S., Canada, Mexico, South America and China. It produces and supplies conveyor belts, industrial hoses, air spring systems and power transmission belts. Upon closing of this transaction, the acquired business will be integrated into Continental´s ContiTech Division, which specializes in non-tire rubber and plastic technologies. Transtar to buy ATCO Transtar Industries, Inc., owner of automotive aftermarket brands including Transtar, Transtar Autobody Technologies, King-OMatic, Axiom and Nickels Performance, has acquired ETX, Inc. from Chicago-based privately held Jordan Industries and private equity ﬁrm The Edgewater Funds. ETX owns DACCO, Inc., a Cookeville, Tenn. supplier of aftermarket transmission replacement parts, torque converters and complete transmissions; Alma Products, an Alma, Mich. manufacturer of torque converters and air conditioning compressors; and ATCO Products, Inc., a Ferris, Texas manufacturer of OE air conditioning, cooling and power steering assemblies and components. Terms of the sale were not disclosed. Tim Bowes, President and Chief Executive Ofﬁcer of Transtar Industries said, "Alma and ATCO are a strategic complement that expands our overall automotive portfolio in the OE and aftermarket channels, along with Transtar Autobody Technologies, our existing paint, body and equipment business." Alan Gatlin, President and CEO of ETX, said "We are extremely pleased to become part of Transtar Industries, and look forward to continuing to serve our customers in the You have enough on your mind, so let us take the worry out of your air conditioning needs. Global Parts Distributors is a full line, quality automotive air conditioning supplier. We can help streamline your inventory, suggest the right mix and take the worry out of having an A/C line. With seven warehouses across the country and a customer service team open from 7am to 8pm EST, we are here to service your needs. We make A/C simple for you. We are "your simple A/C solution" 1-800-722-5089 www.globalpartsdist.com Like us on Facebook / Follow us on Twitter twitter.com/globalpartsdist 44 ACTION * April 2014 Reader Reply automotive industry." Alma and its 250+ employees have supplied Ford, John Deere, CNH and many other customers with air conditioning compressors, torque converters, clutch and disc assemblies, and transmissions for over 70 years. ATCO and its 200+ employees have supplied Ford, Paccar/Dynacraft, Navistar and other customers with air conditioning, cooling and power steering assemblies and components since 1967. Gatlin will lead the Alma and ATCO businesses as President and General Manager, and will report to Bowes. Car Care Council Women's Board 2014 Scholarship Program The Car Care Council Women's Board (WB) raised more than $4500 in its silent auction during the 2014 Women's Board winter meeting, held Feb. 4-5 at the Renaissance Charleston in Charleston, S.C. Items for the auction were donated by WB associate companies and aftermarket supporters, and all proceeds will go to the WB scholarship fund, allowing the WB to award a record number of scholarships in 2014. The Women's Board will be giving away seven scholarships to female students studying to enter the auto care industry -- four to postsecondary students and three to high school students. The Becky Babcox Women's Board scholarship recipient, a postsecondary student, will receive $5000, and a trip to the Automotive Aftermarket Products Expo (AAPEX) in Las Vegas, Nev. The WB will administer the 2014 Continental Female Leadership Scholarship, awarding $5000 to an additional postsecondary student. Two other postsecondary students will receive $4000 and $3000, respectively. The top high school senior recipient will receive $3000, and two others will receive $2000 each. Winners of all scholarships are selected by representatives of the WB and will be announced in May. "Thanks to our partnership with Continental's Commercial Vehicles & Aftermarket business unit and our second successful silent auction, we will be able to give away $24,000 in scholarship money in 2014," said Amy Mattinat, Auto Craftsmen Ltd., WB president. "We are very excited to be able to offer both ﬁnancial support and career mentoring for women pursuing their profession in the auto care industry." http://www.globalpartsdist.com http://www.globalpartsdist.com http://www.twitter.com/globalpartsdist http://www.macsw.org/imis15/MACS/Publications/ACtion_Reader_Reply/MACS/Publications/ACTION/ACtion_Reader_Reply.aspx?hkey=ac24bddb-c045-442a-813c-cbf05f88ac4d

Table of Contents for the Digital Edition of ACtion Magazine - April 2014

A/C Season Opener
Networking in the Big Easy
Getting Legal
Outlook
Freeze Frame
Leonard's Law
Virtual View
Service Port
Last Watch
By the Numbers
Cooling Corner
Industry News
Association News
Letter to the editor
New Products

ACtion Magazine - April 2014