Rob Wagman steps down due to health considerations. LKQ Corporation (NASDAQ:LKQ) announced that its Board of Directors unanimously selected Dominick P. Zarcone, the current Chief Financial Officer of the company, to become the new President and Chief Executive Officer. Robert L. Wagman has announced his intention to step down from the positions of President and […]
ALLDATA Signs Reseller Agreement with LKQ’s Rhiag Group in Italy
ALLDATA Europe GmbH, an affiliate of ALLDATA LLC, , announced it has signed a reseller agreement with Rhiag Group, an affiliate of LKQ Corporation, to enhance ALLDATA’s ability to serve the Italian market with OEM diagnostic and repair information. LKQ announced an agreement to acquire Rhiag in January 2016. The company has operations in Italy, Czech Republic, Switzerland, […]
LKQ Finalizes Sale of OEM Glass Manufacturing Business
LKQ Corporation (LKQ) yesterday announced that it has completed the previously announced agreement to sell the OEM glass manufacturing business of its Pittsburgh Glass Works subsidiary (PGW) to a subsidiary of Vitro, S.A.B. de C.V., a glass manufacturer based in Mexico. The sale price was $310 million, subject to potential post-closing purchase price adjustments. As […]
LKQ Corporation Reports Revenue Up 19.3% in Fourth Quarter
Organic parts and service revenue growth was up 4.8 percent. LKQ Corporation (NASDAQ:LKQ) today announced results for its fourth quarter and full year ended December 31, 2016. Net income for the fourth quarter of 2016 was $86.3 million, a decrease of 9.2 percent compared to $95.1 million 2015. Net income for full year 2016 was […]
LKQ Sells OEM Glass Manufacturing Business to Vitro SAB
LKQ Corporation (NASDAQ:LKQ) today announced that it has entered an agreement to sell the OEM glass manufacturing business of its Pittsburgh Glass Works subsidiary (PGW) to a subsidiary of Vitro S.A.B. de C.V. (VITROA.MX), a leading glass manufacturer based in Mexico. The sale price is $310 million, subject to potential post-closing purchase price adjustments. As […]
LKQ Acquires Equity Interest in Mekonomen Group
LKQ Corporation (LKQ) today announced that it has entered into an agreement to acquire an equity interest in Mekonomen AB (MEKO.ST) from Axel Johnson AB (AXJ). Headquartered in Stockholm, Sweden, Mekonomen Group is an independent car parts and service chain in the Nordic region of Europe, offering a wide range of products including spare parts […]
LKQ Corporation Announces Third Quarter Revenue Up 30%
Reports year-to-date organic growth of 5.1 percent. LKQ Corporation (LKQ) today reported revenue for the third quarter of 2016 of $2.39 billion, an increase of 30.3 percent as compared to $1.83 billion in the third quarter of 2015. Net income for the third quarter of 2016 was $122.7 million, an increase of 21.1 percent as […]
UK Competition Authority Opens Inquiry into LKQ Subsidiary’s Merger with Andrew Page
The United Kingdom Competition and Markets Authority (CMA) has opened an inquiry in the acquisition of Andrew Page Limited, a distributor of automotive parts in the UK, by the LKQ Corporation (NASDAQ:LKQ) subsidiary Euro Car Parts. On Wednesday, the CMA served an initial enforcement order under section 72(2) of the Enterprise Act 2002 on ECP […]
LKQ Acquires UK Parts Distributor
LKQ Corporation (NASDAQ:LKQ) today announced that its United Kingdom subsidiary, Euro Car Parts, has acquired Andrew Page Limited, a distributor of automotive parts in the United Kingdom. As part of the transaction, Euro Car Parts acquired 102 Andrew Page branch locations, its national distribution center and corporate office. “We are pleased to acquire the Andrew […]
LKQ Reports 5.6% Parts and Services Organic Revenue Growth in Second Quarter
LKQ Corporation (NASDAQ:LKQ) today reported record revenue for the second quarter of 2016 of $2.45 billion, an increase of 33.3 percent compared to $1.84 billion in the second quarter of 2015. Net income for the second quarter of 2016 was $140.7 million, an increase of 17.6 percent as compared to $119.7 million for the same […]