Axalta (NYSE:AXTA) broke ground on the newest phase of its Jiading plant in Shanghai, China to expand its waterborne coatings capacity in the country. Expected to be operational by early 2021, this expanded facility will position Axalta to meet rising demand for sustainable coatings from automotive and industrial customers across southern and eastern China. “This […]
Nationwide to Close Offices in Five States in Permanent Shift in Workplace and Work-from-Home Strategy
Employees at five locations in the U.S. will shift to work-at-home permanently. Nationwide announced a plan to permanently transition to a hybrid operating model where staff will be primarily working-from-office in four main corporate campuses and working-from-home in most other locations. “We’ve been investing in our technological capabilities for years, and those investments really paid […]
Boyd Group Reports First Quarter Results Up 12.5% Versus 2019
Same store sales decreased 1.5%. Company raises CA$200 million to fund future acquisitions and improve balance sheet. Boyd Group Services Inc. (TSE:BYD) announced its preliminary first quarter financial results and that it raised approximately CA$200 million ($143.6 million) through a bought deal share issuance under an agreement with CIBC Capital Markets, Cormark Securities Inc., Goldman […]
PPG Reports Lower First Quarter Sales as Pandemic Impacts Results
PPG (NYSE:PPG) reported first quarter 2020 net sales of about $3.4 billion, down approximately 7% versus the prior year. Selling prices increased more than 1%. Sales volumes were down 8% versus the prior year, in aggregate, including an estimated impact of the COVID-19 pandemic of $225 million, or about 6%. Unfavorable foreign currency translation impacted […]
NJM Insurance Commits $400,000 to COVID-19 Relief Efforts
NJM Insurance Group, the property and casualty insurer in the Mid-Atlantic region, has committed over $400,000 to COVID-19 relief efforts to assist families, businesses, and communities impacted by the pandemic. The funding will go toward non-profits serving essential needs, health care providers, emergency responders and coordinated statewide efforts in New Jersey and Pennsylvania. “Community support […]
NICB Reports Texas Continues to Take the Top Spot for Hail Claims
The National Insurance Crime Bureau (NICB) today, released a three-year analysis of insurance claims associated with hail storms in the United States. The report is based on a review of claims data from ISO ClaimSearch during the period of January 1, 2017 through December 31, 2019, totaling 2,769,362 hail loss claims. The top five states […]
Paycheck Protection Program Re-Opened Yesterday
The Small Business Administration (SBA) yesterday began accepting new loan applications under its Paycheck Protection Program (PPP) after additional funding was approved by the U.S. Congress last week. In a joint statement, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza, said, ““The PPP has supported more than 1.66 million small businesses and […]
North Carolina Towing Service Agrees to Pay $19,000 to Settle EEOC Sexual Harassment Lawsuit
Hunter Auto & Wrecker Service, Inc., a Charlotte, N.C.-based towing business, will pay $19,000 and provide other relief to settle a sexual harassment lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced in early April. According to the EEOC’s lawsuit, Hunter Auto violated federal law when it subjected a female […]
Virginia Governor Signs Vehicle Safety Inspection Program Legislation
The Automotive Service Association reports that after efforts earlier this year to eliminate the state’s motor vehicle safety inspection program, Virginia Governor Ralph Northam (D) has signed a bill that keeps safety inspection programs in place in the state. House Bill (HB) 1414 states, “Motor vehicles, trailers, and semitrailers required to be inspected pursuant to […]
Classic Collision Acquires Collision Repair Center in South Florida
MSO now operates 35 locations. Classic Collision Inc., the Atlanta-based automotive collision repair company, announced that it has acquired Palm Collision Center in its South Florida region. This acquisition adds to Classic Collision’s presence in South Florida after the purchase of Carolina Auto Body in December 2019, now giving Classic eight South Florida locations. Palm […]
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