2 deal makers take charge at suppliers

James Kamsickas, 4-8, the incoming CEO of Dana Holding Corp., has a clear mandate from the board to improve sales and make acquisitions. In a July 13 statement, Chairman Joseph Muscari approvingly mentioned his new CEO's "effective integration of several strategic acquisitions" in his previous occupation as president of Global Automotive Components Group. His forerunner, Roger Wood, makes a solid balance sheet and excellent income. In an April 20 interview, Wood told Automotive News that Dana, an important manufacturer of axles, drive-shafts and thermal management items, wished to make some "bolt-on" acquisitions including $200-million to $500-million, and that at least one deal may materialize this year. If Kamsickas is looking for for bargains, it is an excellent time to get it done, says Mark Wakefield, a managing director of AlixPartners, a suburban Detroit consulting company. "Cash is affordable, and [traders] are interested in cars," Wakefield stated. "Businesses are becoming quite great income." Meanwhile, IAC's prospects are significantly muddier. Found in 2006 by financier Wilbur Ross, IAC assembled itself into an international manufacturer of interior trimming by getting 16 competitors. A year ago, the business generated revenues of $5.9 billion -- enough to rate 43rd on Automotive News' list of the leading international providers. But the most recent time IAC created an acquisition was in July 2013, when it took a position in South-African JV IAC-Feltex (Pty) Ltd., a manufacturer of automotive flooring, acoustic guitars and trimming parts. Since that time, IAC has passed up chances to obtain interior trimming businesses sold by Magna Global Inc., Visteon Corp. and Johnson Controls Inc. Also, IAC has declared that its new CEO will be Steve Miller, the previous vice chairman of Chrysler Corp. who later developed a reputation as a turn around artist. Miller, 7 3, is best-known for directing Delphi Corp. through a tough insolvency reorganization from 2005 through 2009. But Ross sought to quell speculation that IAC may take reversion way. "Steve's business functions frequently have drawn upon his turn around encounter, but that isn't the situation here," Ross stated in a written statement a week ago. "Our curiosity is in his automotive expertise and associations."

It's possible for you to reach David Sedgwick at [email protected].

Labels:
Dana Corp.
Executives
Providers

Axles
Parts

Marketing

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20.07.2015
ID:2503

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