On Tuesday, AkzoNobel provided a third quarter update as high macro-economic uncertainty, especially in Europe and China, led to near historical low consumer confidence. The company said that in anticipation, customers and channel partners in the paints and coatings industry are proactively destocking in these regions. According to the company, adjusted operating income is now […]
Auto Care Association to Host Webinar Examining Challenges with Ocean Shipping
The Auto Care Association will host a live webinar on Wednesday, August 24, from 2-3 p.m. (EDT) to examine the current challenges with ocean shipping and share insights to prepare for what is ahead. Problems with ocean shipping delays have impacted collision repair parts supplies. More information and registration are available online. This webinar is […]
CHIPS Act Signed Into Law
On August 2, President Biden signed the CHIPS and Science Act (CHIPS Act) into law, allocating $280 billion in funding and tax incentives to boost domestic production and innovation in the semiconductor industry and broader science and technology-related industries. The bill, which passed the Senate by a vote of 64-33, aims to make the United […]
PartsTrader July 19 Webinar to Provide Industry Update, Examine Parts Inflation and Supply Chain Constraints
PartsTrader announced a virtual collision repair industry update event on July 19 at noon (EDT). This free, live, interactive event offers a way for industry professionals to get vital information about current trends affecting their business. “I’m looking forward to providing the latest information on our fast changing industry, and giving my thoughts on how […]
Bosch Investing in Expanded Semiconductor Production
In an additional move to combat the ongoing global chip shortage, Bosch plans to further extend its wafer fabrication in Reutlingen, Germany. More than a €250 million ($278.2 million) is to be invested in creating new production space and the necessary clean-room facilities between now and 2025. This will give Bosch the ability to meet […]
Commerce Department Reports Automotive Semiconductor Supply Chain Remains Fragile
Acute concern for legacy automotive chips. While positive news on private investment, department says report supports proposed $52 billion government support for domestic production. The U.S. Department of Commerce yesterday released the results from the Risks in the Semiconductor Supply Chain Request for Information (RFI) issued in Sept. 2021. The RFI showed that median inventory […]