Copart, Inc. (NASDAQ: CPRT) last week reported its financial results for the quarter ended October 31. For the quarter ended October 31 revenue was $419.2 million, gross margin was $163.3 million, and net income was $77.5 million. These represent an increase in revenue of $73.2 million, or 21.1 percent; an increase in gross margin of […]
November New Vehicle Retail Sales Pace to Decline
J.D. Power and LMC Automotive project sales pace to decline for seventh time this year For the seventh time this year, the new vehicle retail sales pace in November is expected to fall from year-ago levels, according to a forecast developed jointly by J.D. Power and LMC Automotive. The seasonally adjusted annualized rate (SAAR) for […]
Symach Expands Production Capacity in Italy
Symach announced it is designing a cutting-edge 3,000-square meter (32,000 sq. ft.). technical department at its facility in Calderara di Reno, Bologna, Italy. It will be equipped with a complete TRUMPF machining line including a TruPunch 3000 Sheetmaster machine for cutting sheet metal and loading, unloading and selecting parts, as well as a TruBend Series […]
Axalta Confirms Acquisition Discussions with Nippon Paint
Following closely on the announcement that it had ended talks with AkzoNobel on a possible merger, Axalta Coating Systems (NYSE:AXTA) confirmed Wednesday, November 22 it has entered into discussions with Nippon Paint over a possible sale to the Japan-based coatings manufacturer. In a statement released Wednesday Axalta confirmed the discussions saying “Axalta today confirmed that […]
Al Gaspar, Former President of AAIA, Passes Away
Al Gaspar, industry icon and former president and CEO of the Automotive Aftermarket Industry Association (AAIA), passed away at his home in Cave Creek, Ariz. on Saturday, Nov. 25. “Al was one of the most respected and revered individuals in the business,” said Bill Hanvey, president and CEO, Auto Care Association. “When Al walked into […]
Joe Hudson Opens 13th Collision Repair Center in Texas
Joe Hudson’s Collision Center announced the opening today of its 13th location in Texas. The new facility is located at 8512 Galveston Rd., in Houston. Joe Hudson’s Collision Center first expanded to Texas in 2015. “We are proud to extend our services even further to the citizens of Houston,” said Traweek Dickson, President of Joe […]
AkzoNobel and Axalta End Merger Discussions Without Agreement
AkzoNobel N.V. (OTCMKTS:AKZOY) and Axalta Coating Systems (NYSE:AXTA) announced this afternoon that they have ended their discussion into a possible merger without an agreement to combine the companies. On October 30, both AkzoNobel and Axalta confirmed they were engaged in discussions into a possible “merger of equals” of the two global coatings companies. According to […]
Philadelphia Collision Repair Shop Owner Ordered to Pay Over $285,000 in Collected Sales Tax
A Philadelphia collision repair shop operator recently was ordered to pay $285,908.71 to the Pennsylvania Department of Revenue after he failed to remit sales tax that he collected at his collision repair facility, Revenue Secretary Dan Hassell announced November 21. Edward A. Hildebrandt III, 48, the owner and operator of the defunct University Collision Center, […]
Small Business Optimism Maintained High Level in October
NFIB Optimism Index inches up in October as more owners expect better sales and say it’s a good time to expand. More small business owners last month said they expect higher sales and think that now is a good time to expand, according to the October National Federation of Independent Business (NFIB) Index of Small […]
Clayton, Dubilier & Rice Acquire 40% Stake in Belron
D’Ieteren, the automotive company and parent of Belron, and Clayton, Dubilier & Rice (CD&R), the global private investment firm, announced Sunday that they have entered into exclusive discussions under which CD&R-managed funds would acquire a 40 percent ownership interest in the Belron group, the global vehicle glass repair and replacement company and parent of Safelite […]
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