The Aftermarket Intel Update video for Thursday, April 9, 2020

With news from the Auto Care Association, LIQUI MOLY, Lubrication Specialties, Bendix Commercial Vehicle Systems, ZF Aftermarket and Timken.

Auto Care Association pens letter to Treasury Secretary Steven Mnuchin urging additional relief for businesses

Yesterday, the Auto Care Association sent a letter to Secretary of the Treasury Steven Mnuchin requesting that he work with Congress to increase the amount of funds allocated to the Paycheck Protection Program to ensure that more businesses, including auto care industry businesses, are given access to these much-needed loans.

LIQUI MOLY increases extra payment for all employees

LIQUI MOLY is hiking its help for all employees. Ernst Prost, Managing Director of the German oil and additive specialist, describes this as a “hardship allowance.” Each employee will now receive an extra 500 euros, including temporary workers. Because the daily work is currently taking place under such difficult conditions, “I am all the more pleased to be able to relieve you of at least some financial worries.” A few weeks ago, the company had already paid a corona consolation of 1000 euros to each employee.

Lubrication Specialties Inc. (LSI) announced today the company is redeploying a portion of the company’s Mt Gilead, Ohio, manufacturing facility and headquarters to make alcohol-based hand sanitizer to assist with preventative care during the COVID-19 pandemic. 

Last year, Bendix Commercial Vehicle Systems produced 2.7 million remanufactured components, saving more than 6,900 tons of raw materials and reducing its carbon footprint by more than 24,000 equivalent tons of CO2. From 2017 to 2019 – the years preceding each of the three annual Global Remanufacturing Days to date – those total numbers are now 7.2 million parts, more than 20,300 tons of materials saved, and more than 71,000 equivalent tons of CO2.

Timken to announce first-quarter 2020 financial results on May 1

The Timken Company will release its first-quarter 2020 financial results on Friday, May 1, prior to the opening of the New York Stock Exchange. The company will host a conference call that day to discuss its financial performance with investors and securities analysts. The financial results and conference call materials will be available online at http://investors.timken.com.

Free online education for technicians with Access to ZF [pro]Tech Technical Training Membership

During a time of paused hands-on education, ZF Aftermarket is offering continued education to technicians throughout the month of April with their ZF [pro]Tech online membership. In an effort to unite technicians throughout a period of disconnection, ZF Aftermarket aims to provide access to useful tools and virtual training during this unprecedented time. Register here and use promo code LEARNWZF when you sign up.

Join your colleagues in the global automotive aftermarket. Get the Aftermarket Intel Briefing, edited by Mark Phillips, AAP.

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