Monday, December 14, 1998

Aeroquip-Vickers Announces Expected Fourth-Quarter Earnings

Aeroquip-Vickers, Inc. announced that it expects its fourth- quarter earnings to be below analysts' current estimates. ... Continue reading

'Autoline Detroit': Ford Economist Sees Near-Record U.S. Sales

On the television program "Autoline Detroit" Martin Zimmerman, the chief economist at the Ford Motor Company predicted 1998 car and truck sales would reach almost 16 million units. ... Continue reading

Binks Sames Fiscal 1998 Sales Will Be Up 22 Percent

Binks Sames Corporation announced that unaudited sales for continuing operations for the fiscal year ending November 30, 1998, exceeded $123 million, an increase of 22 percent over the prior year's $101 million. ... Continue reading

Citation Corporation Acquires CT South

Citation Corporation announced that it has reached an agreement in principle for the purchase of CT-South, Marion, Alabama with the Automotive Foundry Co., Ltd. and the Mitsubishi Corporation. ... Continue reading

Eagle Steel Products, Inc. Announces QS-9000 Certification

Eagle Steel Products, Inc., one of the nation's leading minority owned steel processing service centers reported that it has added another distinction to its already impressive record in the domestic steel industry. ... Continue reading

Engelhard Awarded Distinction from Volkswagen

Engelhard Corp. was recently presented with Volkswagen's prestigious "Formula Q" quality award for its Nienburg, Germany, facility's excellent performance, product quality and service. ... Continue reading

GenCorp Announces Plans to Sell its Penn Racquet Sports Division

GenCorp announced it has initiated the process for divesting its Penn Racquet Sports division, a step which is aligned with the Company's strategy to focus on its core growth businesses. ... Continue reading

GenCorp Completes Sale of Residential Wallcovering Business

In another of several recent strategic actions, GenCorp announced that it's Decorative & Building Products division has sold its residential wallcovering business to Blue Mountain Wallcoverings Inc. of Mississauga, Ontario, Canada. ... Continue reading

Gentex Corporation Breaks Ground on New Manufacturing Facility

Gentex Corporation, the world-leading manufacturer of automatic- dimming mirrors and fire protection products, has begun site work for the construction of a new mirror manufacturing facility. ... Continue reading

Hertz Forms Joint Venture with Magellan

The Hertz Corporation and Magellan Corporation, satellite access products subsidiary of Orbital Sciences Corporation, have announced an agreement to form an exclusive joint venture. ... Continue reading

Magna announces completion of acquisition of Santa Anita race track

Magna International Inc. reported that its MI Developments real estate group has completed the previously announced acquisition of the Santa Anita Race Track and related horse racing operations and approximately 305 acres of related real estate. ... Continue reading

Michigan Chamber of Commerce's Complaint Against UAW

UAW Secretary-Treasurer Ruben Burks, issued this statement regarding the Michigan Chamber of Commerce's complaint alleging that the UAW Michigan Voluntary Political Action Committee (Michigan V-PAC) violated the Michigan Campaign Finance Act. ... Continue reading

Nissan Capital 'F3' CP Rating Withdrawn by Fitch IBCA

Nissan Capital of America, Inc.'s (NCA) commercial paper rating is lowered to 'F3' from 'F2' and is withdrawn. NCA has not issued commercial paper for some time, and none is currently outstanding. ... Continue reading

Penske Motorsports Announces Executive Appointments

Penske Motorsports, Inc. (PMI) has announced the following executive appointments. ... Continue reading

Republic Industries Acquires Dealerships in Five States

Republic Industries, Inc. announced that it has signed definitive agreements to acquire 10 dealership groups comprising 31 automotive retail franchises. ... Continue reading

Soft Used Vehicle Sales Will Impact Republic Industries Q4 Earnings

Republic Industries, Inc. announced that it anticipates its fourth quarter earnings per share to be approximately $0.05 below the consensus analysts' estimate of $0.27 for the period. ... Continue reading

Textron Names Smith to Lead Global Fastener Group

Textron announced it has named Randy P. Smith president of Textron Fastening Systems (TFS). In this role, Smith will oversee more than nine fastener businesses operating on four continents and employing over 15,000 people. ... Continue reading

Thomas Group Engages Investment Banker to Assist in Strategies

Thomas Group, Inc. announced the engagement of Hanifen, Imhoff Inc., an institutional investment banking firm to advise the company on its growth strategy and to assist in identifying and evaluating potential strategic opportunities. ... Continue reading

Toyota Responds to CARB Emissions Situation

The following statement from Toyota Motor Sales (TMS), USA, Inc., may be attributed to Jim Olson, TMS senior vice president, external affairs: ... Continue reading

Tri-Star International Limited Inc. Announces 2 Strategic Acquisitions

James Morgan, President and CEO of Tri-Star International Limited Incorporated announced, in two separate transactions, the acquisition by Tri-Star of a 50% interest in both San Miguel Mining Corporation and Hard Power Incorporated. ... Continue reading

Uniroyal Technology Corporation Reports Fourth Quarter Earnings

Uniroyal Technology Corporation reported that net income for the fourth quarter ended September 27, 1998 reached $2,302,000 for a gain of 74% versus the $1,324,000 reported in the fourth quarter of the preceding year. ... Continue reading

U.S. Tool & Equipment Manufacturers Preview 1999 Japanese Autos

Major U.S. automotive tool and equipment manufacturers met with Japanese automakers to review servicing for new 1999 vehicle models. ... Continue reading

Welsh Joins Bundy Group as Chief Executive

Allan Welsh has joined Bundy, part of TI Group, as chief executive of the fluid carrying systems specialist with interests in both the global automotive and refrigeration industries. ... Continue reading

Williams Controls Announces Plan to Sell Subsidiary

Williams Controls, Inc. reported its results for the fourth quarter and full year ended September 30, 1998 and announced a plan of disposal for its Agriculture Equipment segment. ... Continue reading

Winnebago Industries Reports Record Revenues

Record revenues of $157.7 million were reported by Winnebago Industries, Inc. for the first quarter of fiscal 1999 that ended November 28, 1998. ... Continue reading