LKQ Corporation (Nasdaq: LKQ) announced that it has closed its previously announced agreement to sell its equity interests in two Czech wholesale automotive parts distributors to Swiss Automotive Group AG. Terms of the transaction were not disclosed. Dominick Zarcone, President and Chief Executive Officer of LKQ, stated, “This divestiture reinforces our ongoing commitment to rationalizing […]
PPG Completes Acquisition of ICR
PPG (NYSE: PPG) today announced that it has completed its acquisition of Industria Chimica Reggiana (ICR) S.p.A., a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries, that was announced in early January. Financial terms were not disclosed. Founded in 1961, ICR is based in Italy and manufactures automotive refinish […]
Copart Germany Opens New Munich East Location
Copart Deutschland GmbH, a subsidiary of the global online vehicle auction company Copart, Inc. (NASDAQ:CPRT), opened its new Munich East location at Hitzinger Wiesen 5 in Pilsting. “With our new Munich East location, we are pleased to make it more convenient for our buyers to purchase vehicles from Copart,” said Kai Siersleben, Managing Director of […]
LKQ Corporation to Sell Two Czech Distributors
LKQ Corporation (NASDAQ:LKQ) announced an agreement to sell its equity interests in two Czech wholesale automotive parts distributors to Swiss Automotive Group AG. Terms of the transaction were not disclosed. In May 2018, the European Commission cleared LKQ’s acquisition of Stahlgruber GmbH, with the exception of Stahlgruber’s two wholesale businesses in the Czech Republic, which […]
PPG to Acquire Industria Chimica Reggiana
Italy-based automotive refinish coatings manufacturer sells products in more than 70 countries. PPG (NYSE:PPG) today announced that it has reached an agreement to acquire Industria Chimica Reggiana (ICR) S.p.A., a manufacturer of paints and coatings for the automotive refinish and light industrial coatings industries. The transaction is expected to close in the first quarter 2020, […]
Coalition Calls for EU Legislators to Ensure Level Playing Field for Remote Access to Vehicle Data
Group calls upon EU decision makers to put forward legislation by 2020 ensuring remote access to in-vehicle data and functions. CECRA, the European umbrella organization of national automotive trade associations and European brand dealer councils, announced November 14 that a number of associations in the automotive sector and mobility services operators, insurers, consumers and small […]
3M and sia Abrasives Settle Patent Infringement Disputes
3M Company, 3M Deutschland GmbH, 3M Innovative Properties Company, sia Abrasives Deutschland GmbH and sia Abrasives Industries AG have settled patent infringement lawsuits brought by 3M in the District Court of Mannheim in Germany and the Federal Patent Court in St. Gallen, Switzerland, and Robert Bosch GmbH has withdrawn its related opposition to 3M’s patent […]
Jim Muse Appointed VP of Refinish for Europe, Middle East and Africa at Axalta
Axalta (NYSE:AXTA) today announced the appointment of Jim Muse as Vice President of Refinish Europe, Middle East and Africa (EMEA) effective immediately. He succeeds Adrien Schrobiltgen in this role. Muse first joined Axalta in 2013 as part of the North American refinish leadership team and was awarded the Axalta Senior Leadership Award in 2015 for […]
LKQ Divests a Majority of Bulgarian Business
LKQ Corporation (NASDAQ:LKQ) announced it has merged its subsidiary Auto Kelly Bulgaria EOOD with Elit Kar OOD. LKQ now owns a 20% equity interest in the combined business, which will continue to operate under both the Elit Car Group and Auto Kelly brand names. In addition, the combined business will acquire parts from LKQ’s aftermarket […]
BASF Seeks to Strengthen Refinish Business with Acquisition of Belgian Internet Accident Management Service and Vehicle Lifecycle Management Platform
BASF announced September 30 that it acquired a majority share of the internet platform UBench with offices in Turnhout and Geel, Belgium. Both companies have agreed not to disclose financial details of the transaction. The transaction includes UBench International NV, CarRoll BVBA and DLight BVBA. Regulatory approvals are not required. BASF says the transaction strengthens […]
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