Timken recognized, SMP announces financials, Pennzoil unveils Carbon Neutral Lubricants in North America and more

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AAPEX 2021 Accepting Submissions for Repair Shop HQ Training

AAPEX 2021 is now accepting proposals for technical and business management training in Repair Shop HQ, a new area dedicated to the service center and everyone who works in the shop. AAPEX 2021 will take place Tuesday, Nov. 2 through Thursday, Nov. 4, at the Sands Expo and Caesars Forum Conference Center in Las Vegas.

To learn more and submit proposals for consideration, trainers should review and complete the Repair Shop HQ Training Application by Wednesday, March 10. A panel of independent repair shop owners and technicians will evaluate the proposals using a review process and scoring system. Selection criteria will include relevance to the independent repair community, quality of proposed content and achievable learning outcomes, trainer qualifications and relevance to attendees’ daily work and career.

In early May, AAPEX will announce the panel’s final selection of training sessions for Repair Shop HQ.

EnerSys marking 25 Years of ODYSSEY battery production with year-long activities

EnerSys is celebrating the 25th Anniversary of ODYSSEY batteries by taking a look back on the journey toward success. Through a series of digital activities set to launch throughout 2021, EnerSys will highlight special ODYSSEY battery moments over the past 25 years and showcase how this premium power solution has become the battery of choice that customers have grown to rely on for handling their transportation needs.    
“Over the years, ODYSSEY batteries have become renowned for their power, reliability and longevity for a variety of applications,” said Dave McMullen, Senior Director of Marketing, Transportation & Specialty at EnerSys. “We are excited to pay tribute to such a historic product milestone. It’s been quite a journey so far and we are just getting started. We look forward to building upon our legacy of ODYSSEY battery success for many years to come.”

SMP announces financials

Standard Motor Products reported today its consolidated financial results for the three months and twelve months ended December 31, 2020.

Consolidated net sales for the fourth quarter of 2020 were $282.7 million, compared to consolidated net sales of $241.3 million during the comparable quarter in 2019. Earnings from continuing operations for the fourth quarter of 2020 were $22.7 million or $1.00 per diluted share, compared to $12.7 million or 56 cents per diluted share in the fourth quarter of 2019. Excluding non-operational gains and losses identified on the attached reconciliation of GAAP and non-GAAP measures, earnings from continuing operations for the fourth quarter of 2020 were $24.7 million or $1.08 per diluted share, compared to $13.6 million or 59 cents per diluted share in the fourth quarter of 2019.

Consolidated net sales for the twelve months ended December 31, 2020, were $1,128.6 million, compared to consolidated net sales of $1,137.9 million during the comparable period in 2019. Earnings from continuing operations for the twelve months ended December 31, 2020, were $80.4 million or $3.52 per diluted share, compared to $69.1 million or $3.03 per diluted share in the comparable period of 2019. Excluding non-operational gains and losses identified on the attached reconciliation of GAAP and non-GAAP measures, earnings from continuing operations for the twelve months ended December 31, 2020 and 2019 were $82.4 million or $3.61 per diluted share and $70.8 million or $3.10 per diluted share, respectively.

Pennzoil unveils Carbon Neutral Lubricants in North America

Today, Pennzoil announced it will offer customers carbon neutral lubricants for passenger cars in North America. Existing products within the Pennzoil Platinum line of full synthetic motor oils are carbon neutral as a step toward Shell’s target to be a net-zero emissions energy business by 2050 or sooner, in step with society and with our customers.

Pennzoil is just one of the brands within the Shell global portfolio of lubricants that is committed to providing motorists with carbon neutral alternatives. Globally, Shell aims to offset the annual emissions of more than 52 million gallons of advanced synthetic lubricants, expecting to compensate around 700,000 tonnes of carbon dioxide equivalent (CO2e) emissions per year, which is equivalent to taking approximately 340,000 cars off the road for one year.

“Motorists are more conscious of contributing to a more sustainable lifestyle and are looking for ways to reduce their net carbon footprint,” said Machteld de Haan, CEO of Pennzoil-Quaker State Company and Vice President Shell Lubricants Americas. “As one of the brands from the world’s leading lubricants supplier, Pennzoil is proud to be a part of the largest carbon neutral program in the lubricants industry; one that compensates for the full lifecycle emissions of these select products. Our carbon neutral lubricants will provide motorists with less carbon intense choices without having to compromise the high performance and engine protection that they expect from Pennzoil.”

Shell aims to be a net-zero emissions energy business by 2050 or sooner, in step with society, however no one solution is going to allow Shell to achieve this target. The transition to a low-carbon energy future will require a range of solutions and Pennzoil is dedicated to helping drive the future and providing carbon neutral alternatives. To achieve this, Pennzoil will contribute to Shell’s target to be a net-zero emissions energy business through several factors: avoid emissions, reduce emissions and offset emissions.

Cooper Standard recognized as one of the 2021 World’s Most Ethical Companies for the Second Consecutive Year by Ethisphere

For the second time, Cooper-Standard Holdings Inc. (NYSE:CPS) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2021 World’s Most Ethical Companies.

Cooper Standard is committed to world-class operations through honest, ethical and responsible business, and is proud to be one of only four honorees in the automotive industry. In 2021, 135 honorees were recognized spanning 22 countries and 47 industries.

“The true strength of a company, and the values that govern it, become even more evident during challenging times,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “Our positive work environment and culture provides Cooper Standard the needed foundation to maintain our steadfast commitment to being a trustworthy business. Being again recognized by the Ethisphere Institute as one of the 2021 World’s Most Ethical Companies is a testament to our values, culture and employees who are dedicated to conducting responsible business throughout the Company.”

Goodyear to acquire Cooper

The Goodyear Tire & Rubber Company (Nasdaq: GT) and Cooper Tire & Rubber Company (NYSE: CTB) announced Monday that they have entered a definitive transaction agreement under which Goodyear will acquire Cooper in a transaction with a total enterprise value of approximately $2.5 billion. The transaction will expand Goodyear’s product offering by combining two portfolios of complementary brands. It will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies’ strengths in the highly profitable light truck and SUV product segments. The combined company will have approximately $17.5 billion in pro forma 2019 sales.


For the latest news and information on the global automotive aftermarket industry, visit https://aftermarketintel.com. Do you have news? Contact Aftermarket Intel Editor Mark Phillips at mark@lpnewmedia.com.

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