Mitchell announced the closing of a $70 million senior secured first lien term loan. The term loan is an add-on under Mitchell’s existing Credit Agreement. Mitchell expects to use the proceeds of the term loan to pay down its revolver and to invest in technologies and companies that drive better outcomes in the markets it […]
BASF Hosts Society of Women Engineers Chapter
BASF recently kicked off its sponsorship of the Detroit chapter of the Society of Women Engineers (SWE) by hosting a professional development meeting. The meeting, held at BASF’s location in Southfield, Mich., featured individuals from various BASF business groups sharing information about their roles at the company. In addition, BASF attended the recent SWE Professional […]
KPMG Reports Autonomous Vehicle Tech Could Shrink Auto Insurance Sector 71% by 2050
According to KPMG report, shifting driving risk to auto manufacturers and adoption of mobility-on-demand will significantly impact insurance business. Autonomous vehicle technology could shrink the auto insurance sector by 71 percent or $137 billion by 2050, according to new research by KPMG, titled The Chaotic Middle: The Autonomous Vehicle and Disruption in Automobile Insurance. KPMG […]
Fix Auto USA to Seek Legal Action to Retain Rights to Collision Repair Brand in U.S. Market
Following announcement by Fix Auto World that it would seek to regain rights to Fix Auto brand in the US, Fix Auto USA announces it will fight to retain its license to the brand. Fix Auto USA has announced that it will legally fight to retain licensing of the Fix Auto trademark in the United […]
Jeff Holder named Chief Operating Officer for asTech
Repairify, Inc., owners of the asTech diagnostic service, named Jeff Holder as their new Chief Operating Officer. Holder will assume responsibility for the company’s field and remote operations. Jeff has over 25 years of management experience in the automotive and transportation industries. He most recently served as Director of Strategic Growth for Copart and held […]
Copyright Office Releases Study on DMCA Impacting Aftermarket Access to OEM Software
The Auto Care Association reports that the U.S. Copyright Office released its long-awaited report on the Digital Millennium Copyright Act (DMCA) last week, recommending that Congress revise the law to ensure that exemptions be granted to third parties who wish to access certain software. Last year, the Auto Care Association called on the copyright office […]
Axalta Opens Coatings Manufacturing Facility in Argentina
New facility, Axalta’s first manufacturing plant in Argentina, will support automotive, refinish and industrial markets. Axalta Coating Systems (NYSE: AXTA) celebrated its first production and logistics center in Argentina in the municipality of Escobar in the province of Buenos Aires, Argentina. Axalta Chairman and CEO Charlie Shaver met with employees and toured the new facility […]
Kansas City, Kansas Tops Allstate America’s Best Drivers Report
As U.S. drivers approach the Fourth of July holiday, the deadliest day on the road, Allstate launches a new safe-driving campaign, to help combat the rising number of fatal collisions. The 13th annual Allstate America’s Best Drivers Report names Kansas City, Kansas, the city with America’s safest drivers. Based on Allstate claims data, the company […]
Maine Collision Repair Anti-Steering Legislation Vetoed by Governor
State Senate fails to overturn veto on measure that would have required insurers to inform a consumer of right to collision repair facility. Proposed legislation (LD 1540) in Maine that would have required an insurer that recommends a particular collision repair facility to inform consumers they have a right to choose a facility was vetoed […]
Recalled Airbag Manufacturer Takata Files for Bankruptcy
Reaches agreement to be acquired by US-based Key Safety Systems. Japan’s Takata Corp, the manufacturer at the center of the airbag recall, filed for bankruptcy protection in both the United States and Japan, and announced it would be acquired for $1.6 billion by Sterling Heights, Michigan- based Key Safety Systems (KSS). Under the agreement, KSS […]
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