Lawson Products, Inc. (NASDAQ:LAWS) announced the acquisition of Screw Products, Inc. (SPI). The acquisition closed yesterday. Terms of the transaction were not disclosed. Based in Dallas, Texas, SPI is a regional distributor of bulk industrial products to large manufacturers and job shops. SPI provides customized fastener and components packaging, sub-assembly, and kitting services in its […]
AkzoNobel Returns Over $6.3 billion to Shareholders Following Sale of Specialty Chemicals
Akzo Nobel N.V. today announced shareholders will receive €5.5 billion ($6.36 billion), following completion of the sale of the Specialty Chemicals business that was announced yesterday. This is in addition to €1 billion ($1.15 billion) advance proceeds distributed by a special cash dividend paid on December 7, 2017. A total of €6.5 billion will have […]
Deer Crashes Down
State Farm annual report shows reduction in deer-related crashes. American Family reports higher deer hit claim costs. The 16th annual State Farm deer-vehicle collision study shows that overall in the U.S., drivers were less likely – one in 167 – to have a crash involving a collision with deer, elk, moose, or caribou. Last year’s […]
Elon Musk Settles SEC Fraud Charges
Settlement requires Musk to step down as Tesla’s Chairman; Tesla to appoint additional independent directors; Tesla and Musk agree to pay $40 Million in penalties. The Securities and Exchange Commission announced September 29 that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., has agreed to settle the securities fraud charge brought by the […]
Mitchell Acquires Genex
Acquisition of medical compliance, cost containment and clinical solutions company complements Mitchell’s auto physical damage, casualty and pharmacy solutions divisions. Mitchell International and Genex, the provider of clinical solutions to the workers’ compensation, auto and disability insurance markets, announced on September 27 they have entered into a merger agreement where Genex will become a new division […]
AkzoNobel Closes Sale of Specialty Chemicals to The Carlyle Group and GIC
Akzo Nobel N.V. (AKZA; AKZOY) announced today it completed the sale of the Specialty Chemicals business to The Carlyle Group and GIC for an enterprise value of €10.1 billion ($11.7 billion). The sale was originally announced last March. “Today is a key milestone in the history of AkzoNobel, creating a focused paints and coatings company, […]
New Vehicle Retail Sales Projected to Decline in September
According to forecast from J.D. Power and LMC Automotive, weather is affecting sales for second consecutive year in September. New-vehicle retail sales in September are expected to fall from a year ago, according to a forecast developed jointly by J.D. Power and LMC Automotive. Retail sales are projected to reach 1,172,700 units, a 2.8 percent […]
Elon Musk Charged with Securities Fraud for Misleading Tweets on Taking Tesla Private
The Securities and Exchange Commission yesterday charged Elon Musk, CEO and Chairman of Silicon Valley-based Tesla Inc., with securities fraud for a series of false and misleading tweets about a potential transaction to take Tesla private. On August 7, 2018, Musk tweeted to his 22 million Twitter followers that he could take Tesla private at […]
HD Repair Forum 2nd Annual Collision Repair Conference April 2-3
The HD Repair Forum announced it will host its second annual conference for the heavy-duty collision repair industry on April 2-3, 2019 in Fort Worth, Texas at the historic Hilton Fort Worth. “The inaugural HD Repair Forum was a success. Our goal was to bring the decision makers and influencers of the industry together with […]
Collision Repair Industry Business Conditions: Q2 2018
Collision repair shops reporting higher sales up over 12 percentage points compared to the second quarter of 2017. Shops reporting higher earnings also up in the second quarter. The CollisionWeek quarterly survey of business conditions reported by collision repair facility owners and managers indicates that the overall percentage of facilities with higher sales was up […]
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