Industrial Opportunity Partners Invests in the Edelbrock Corporation
"This new partnership comes at a time in the automotive industry that puts Edelbrock in a prime position to capitalize on the ever-strengthening economy", stated Edelbrock Chairman, Vic Edelbrock. "We’ve weathered the economic storm and constraints of the fragile banking system over the past eighteen months, never losing sight of our commitment to innovation and
Are You Ready for More Business?
There are a lot of positive economic signs that consumers are becomingmore comfortable with their financial situation and are beginning toopen their wallets. A recent report states that department stores, grocery chains and eventoy stores are seeing consumers move toward higher-priced andhigher-quality items. As an example, cashmere is gaining in popularityand a New York coffee
Youthful Drivers…Is Your Company Exposed?
FACT: In 2006, the latest year for which data are available, motor vehicle crashes were the leading cause of death among 13-19 year-old males and females in the United States. Thirty-three percent of deaths among 13-19 year-olds occurred in motor vehicle crashes, 39 percent among females and 31 percent among males. What is a youthful
Cleaning Up In The Shop
In fact, it can be very difficult to make an accurate diagnosis of what’s wrong with an engine until it’s clean. You may be able to recognize some failed parts, you can often see large cracks or obvious damage, but you’re really only assuming you know what caused a failure if you can’t see for
Engine Builder Shop Solutions: May 2010
Don’t Just Absorb Incidental Charges There are lots of bad habits that machine shop owners get into over the years that can suck the profit out of a job. One bad habit is quoting a job and forgetting about the extra costs that are typically absorbed. Many shops do not charge for incidental charges that
Respect Between Shops and Stores Strengthens Both
I have been lucky enough to make sales calls on hundreds of machine shops over the past 30-plus years. Some are still here today and sadly, some are not. In that time I have met a few machine shop owners who were hard working and quite successful. They put in their years, formed an exit
When Does One-Thousandth Of An Inch Equal A Mile?
Now this statement has both good and bad advice in it. Good, because we all know high quality tools cost money, and bad because, as engine builders, who are you going to borrow tools from? The guy next door? Probably not. You need to have your own tools and tooling to control your quality in
APRA to Host MEGA Clinic
The Automotive Parts Remanufacturers Association (APRA) will be bringing four divisions together during the upcoming “MEGA Clinic” on June 3-5, 2010 at the Doubletree Hotel in Springfield, MS. The program will contain seminars for remanufacturers and suppliers involved in HD Transmissions, Volume Transmissions, HD Brakes and Electrical. Along with cutting edge seminars, the group will
Engine Builder Shop Solutions: April 2010
Employee Education Without ASE Machinists Certifications Back in January in this column we talked about dealing with bad employees. This month I would like to express how important it is to keep yourself and your employees up to speed with our industry. Keep in mind that ASE will no longer be offering its Machinist certifications
With ‘HIRE’ Act Passed, What Does it Mean for You?
From APRA e-Connection The Hiring Incentives to Restore Employment (HIRE) Act allows anemployer to claim the tax benefits for a newly hired employee who hasnot worked more than 40 hours during the 60-day period preceding thedate of employment. Employers who hire unemployed workers this year (hired after Feb. 3,2010 and before Jan. 1, 2011)
Hastings Recognized as One of the Top 10 Foreign Brands in China
Hastings East Manufacturing Co. Ltd., a wholly foreign-owned enterprise ofHastings Manufacturing Co. LLC, has been recognized as a Top TenAutomotive Parts Brand in China. Hastings is a nearly 100-year-oldAmerican manufacturer of piston rings with worldwide sales anddistribution to engine OEMs and the aftermarket. The Top Ten Foreign Automotive Parts Brand in China ceremony was heldat
Jasper Engine and Transmission Now 100 Percent Employee-Owned
Sixty-eight-year-oldremanufacturer Jasper Engine and Transmission has announced thetransfer of 100 percent of its stock to a newly formed company – Jasper Engine and Transmission 100 Percent Employee Stock OwnershipPlan (ESOP). Jasper owners/managers sold their shares in the company to thecompany’s 1,471 employees. On an annual basis, all full-time Jasperemployees will earn shares of stock based
Melling Tool Co. to Acquire Rush Metals
MellingTool Co. this week announced a tentative agreement for the purchase ofRush Metals in Billings, Okla. The deal is expected to close inmid-March. A subsidiary of Cloyes Gear and Products Inc., Rush Metals manufacturesa wide variety of sintered metal products serving the automotive,industrial, agriculture and automotive aftermarket componentsindustries. Rush Metals has been in business
Engine Builder Shop Solutions: January 2010
Dealing With Bad Employees One of the fastest ways to lose control of your business is to let a bad employee take control of your shop and ruin the overall moral. Pay attention to your people and understand that when things change in their lives it can affect the attitude they have at work. If
Winter Comes Every Year: Preventing Losses In Your Shop
Some items to consider: • Condition of entrances and exits: Are they in good condition or could snow, water or wind cause problems? Repair them now instead of waiting for an emergency. • Heating, ventilation and air-conditioning systems: Don’t wait for a breakdown or even a sign of trouble, make checking the condition of the
It
A bold statement, you may think. Are you thinking that it doesn’t apply to your business? You may think you’re doing okay. Yet my statement applies to everyone – from a one-man shop to a shop with 100 employees or more – because if you don’t do it, your competitor will! The most recent Machine
Mexican Outfit in Deal to Buy ROL’s Engine Gasket Division
Manufacturas Diversas S.A. de C.V. has reached an agreement in principal to acquire the manufacturing and distribution assets of the ROL Manufacturing of America engine gasket division in the United States, Canada and Mexico. Court approval is expected in the next 30 days. Manufacturas Diversas plans to operate the acquired business in the United States
Finding Your Break Even Point
Why should you care what your business’ break-even point is? Whatpurpose does it serve to know what it is? More specifically, how do youdetermine which of your business costs are fixed and which arevariable? What costs affect your break-even point the most? How oftenshould this information be calculated? How do you use this informationto better
Navistar Acquires Engine Components Business from Continental, Forms New Operating Company
Navistar Inc. has concluded an agreement to acquire certain assets andthe membership interests of Continental Diesel Systems US LLC tomanufacture key fuel injection components for its MaxxForce dieselengines. As part of Navistar’s industry leadership strategy, thecompany also will establish a dedicated research and developmentfacility to support Navistar’s diesel power system components. Thecompany, renamed Pure Power
Is Your Company Stuck In The Muck?
By George Hedley Is your business growing and giving you the results you wanted when you first started your entrepreneurial journey? Or are you stuck in the muck and can’t seem to get moving? As small companies begin to grow, they get bogged down, hit challenges, and find roadblocks that hold them back. These include