LKQ Corporation (NASDQ:LKQ) announced that it has signed an agreement to acquire Pittsburgh Glass Works LLC (PGW) from private equity firm Kohlberg & Company LLC and PPG Industries, Inc. for an enterprise value of $635 million. PGW is a global distributor and manufacturer of automotive glass products. PGW’s business comprises wholesale and retail distribution services, […]
3M and Festool Announce Strategic Collaboration
The 3M Company and TTS Tooltechnic Systems AG & Co. KG, maker of Festool brand products, today announced a strategic collaboration to provide customers in the global automotive collision repair industry a new and comprehensive surface preparation and finishing system. The collaboration brings together 3M’s abrasives, global sales and distribution capabilities with Festool-branded premium power […]
Registration Open for April 7 NABC Regional Golf Fundraiser in Texas
Registration is now open for the National Auto Body Council’s Regional Golf Fundraiser. The event will be held Thursday, April 7, in Dallas, Texas at the Texas Star Golf Course. Participants will join their industry friends and colleagues for some Texas-style golf and fun an meet and network with industry colleagues in the Southwest. Proceeds […]
Liberty Mutual Insurance’s Ivania Konieczka Elected to CAPA’s Board of Directors
The Certified Automotive Parts Association (CAPA) announced the election of Ivania Palacios Konieczka, Vice President of Personal Insurance Claims at Liberty Mutual Insurance. Konieczka joined Liberty Mutual Insurance in 2011 and is currently Vice President of Personal Insurance Claims for the Auto Physical Damage Product and Analytics group. She and her team are responsible for […]
AAA: 87 Percent of Drivers Engage in Unsafe Behaviors Behind the Wheel
About 87 percent of drivers engaged in at least one risky behavior while behind the wheel within the past month, according to latest research by the AAA Foundation for Traffic Safety. These unsafe behaviors include driving while distracted, impaired, drowsy, speeding, running red lights or not wearing a seat belt. “There is a culture of […]
Auto Care Association Calls on Copyright Office to Clarify Consumer Ownership of Vehicle Software
The Auto Care Association submitted comments last week to the U.S. Copyright Office requesting the agency make clear that when purchasing a vehicle, the consumer also purchases the software in that vehicle. Last year, the Library of Congress published its final rule on the Exemption to Prohibition on Circumvention of Copyright Protection Systems for Access […]
NORTHEAST Trade Show Hosts Variable Rate System Seminar
Over the last few years, the Alliance of Automotive Service Providers of New Jersey (AASP/NJ) has advocated support for the National AutoBody Research (NABR) Variable Rate System. As a way to expand the usage of the system in the Northeast region, NABR’s Sam and Richard Valenzuela will be presenting the Variable Rate System at AASP/NJ’s […]
Crash Parts Maker Jui Li to Invest $48.5M in New Factory
The Export Processing Zone Administration (EPZA) under Taiwan’s Ministry of Economic Affairs announced that it recently approved an application from the Jui Li Enterprise Co. Ltd., the collision repair crash parts maker, to set up a factory in the Pingtung Export Processing Zone (PEPZ) of southern Taiwan. Pingtung is the southernmost city in Taiwan. According […]
LKQ Reports Revenue Growth of 6.7% in 2015
The collision repair industry part supplier surpassed $7 billion in annual revenue for the first time in 2015. The LKQ Corporation (NASDAQ:LKQ) today announced results for its fourth quarter and full year ended December 31, 2015. For the fourth quarter of 2015, revenue was $1.75 billion compared with $1.68 billion for the fourth quarter of […]
Copart Reports Revenue Up 8.5%
Copart, Inc. (NASDAQ:CPRT) reported financial results for its fiscal second quarter ended January 31. For the quarter, revenue was $299.7 million, representing an increase in revenue of $23.4 million, or 8.5 percent. Gross margin was $124.6 million, an increase of $9.7 million, or 8.5 percent. Net income was $59.0 million, an increase in of $6.8 […]
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