People Places & Racing News

Movers & Shakers: Tracie Nunez Named PWA President; LKQ Corp. to Acquire Keystone Automotive Operations

 Tracie Nunez, PWA president
Tracie Nunez, formerly the CEO of Advanced Clutch Technology, was named the president of the Performance Warehouse Association (PWA), effective January 1.

Tracie Nunez Named PWA President
The Performance Warehouse Association board of directors has named Tracie Nunez, formerly CEO of Advanced Clutch Technology, as PWA president, effective January 1.

“The timing is right for some new thinking and to turn over the leadership of PWA,” said John Towle, PWA president emeritus, in a press release. “Tracie brings a proven track record of building strong, long-lasting relationships and a collaborative nature in working with customers and staff. I foresee continued growth in member services for many years to come.”

PWA represents 365 member companies, which provide a large number of products to the automotive aftermarket. PWA hosts an annual conference for member manufacturers and distributors to meet privately and discuss future business plans.

“It is an honor to be joining the PWA family,” Nunez said. “This great opportunity enables me to support members in their current business goals and to develop relevant association programs for the future needs of this industry. I am deeply committed to ensuring the PWA conference remains successful for both distributors and manufacturers, and encourage our members to provide their feedback.”

In addition to her proven track record with the PWA, Nunez has been a visible and vocal supporter of SEMA and its councils and networks over the years, carrying a track record of volunteer efforts with SEMA that reach back to 1999. She was chairman of SEMA's Street Performance Council (now known as the Emerging Trends & Technology Network) where she was instrumental in developing smaller, more focused task forces to accomplish group goals for the benefit of the entire council membership. She also served on the select committee of the Motorsports Parts Manufacturers Council and has volunteered for several SEMA special groups, including the SEMA Rep Agency of the Year, WD of the Year and Person of the task forces. 

PWA also anounced that the board of directors voted to promote LaNell Richard to vice president as she continues to handle the day-to-day operations of PWA.

“This promotion is a direct result of LaNell’s ability to serve the PWA members and her consistent attention to detail, coupled with her desire to grow PWA,” Towle said. “It has been my pleasure to have worked with LaNell over the last year-and-a-half, and I’m 100% confident she is up to the task.” More information is available here

Rich Crutchley, Remington Industries
Rich Crutchley has joined Remington Industries as national accounts manager.

Rich Crutchley Named National Accounts Manager for Remington Industries
Rich Crutchley has joined Remington Industries as national accounts manager. In his new role with the company, Crutchley will oversee sales to Remington’s current customers and the development of new business in untapped markets. He will also oversee the expansion of the company's product offerings through its distribution channels. Crutchley's retail and marketing experience includes stints as national sales manager for Amcor Group USA, national account executive for Automotive Innovations and manager of national accounts for MEDCO. Remington also announced the appointment of Brand 7 Ltd. to assist with sales and marketing in Europe. Based in Edinburgh, United Kingdom, Brand 7 Ltd. specializes in automotive brand licensing and product development working with varied clients, including Michelin and Kawasaki.

LKQ Corp. to Acquire Keystone Automotive Operations
LKQ Corp. has signed a definitive agreement to acquire Keystone Automotive Operations Inc. for $450 million. The transaction is expected to be completed in the first quarter of 2014 and is subject to customary closing conditions and necessary regulatory approvals. Established in 1971, Keystone has more than 1,500 employees and 25 locations serving more than 20,000 specialty retailers and equipment installers throughout North America.

LKQ expects the transaction to be accretive to its earnings in 2014. Keystone's revenue for 2014 is expected to be approximately $700 million with an EBITDA margin of approximately 10%. These projected results exclude restructuring and acquisition related expenses. The company intends to finance the acquisition with borrowings on its revolving credit facility and asset securitization program. As of September 30, 2013, the company had approximately $1.2 billion available from these sources.

 Bob Lutz, Katzkin
Bob Lutz was selected by Katzkin to serve as senior advisor for the organization.

Katzkin Appoints Bob Lutz Senior Advisor
Katzkin announced that Bob Lutz will serve as senior advisor to the organization. Lutz has held senior leadership positions at four of the world's top automakers, including General Motors Corp., where he served as vice chairman from 2001 to 2010 and was earned acclaim for revolutionizing the company's product-development efforts. According to Katzkin CEO Brooks Mayberry, the addition of Lutz’s insight and expertise comes during a growth cycle for the brand. “Bob joins our organization at the right time, as we continue to expand production capacity with a new plant opening in Mexico to extend our U.S. just-in-time manufacturing and Asian manufacturing.”

Lutz currently serves as chairman of The New Common School Foundation, is a member of the board of trustees for the U.S. Marine Corps University Foundation and vice chairman of the board of trustees for the Marine Military Academy in Harlingen, Texas.

New Toyo Tire Manufacturing Facility to Create 650 New Jobs in Georgia
Toyo Tire North America Manufacturing Inc. (TNA) (White, Georgia) broke ground last week for a 700,000-sq.-ft. addition to its current 2 million-sq.-ft. tire manufacturing plant. The warehouse portion of the facility will also be expanded by 323,000-square feet to accommodate the increasing production of the Toyo and Nitto brands. Parent company, Toyo Tire & Rubber Co. Ltd., is investing $371-million in the expansion over the next four years. According to Toyo, the investment will result in the creation of 650 new jobs in the State of Georgia. The state-of-the-art TNA manufacturing facility first broke ground in 2004 and features a proprietary automated production system called ATOM (Advanced Tire Operation Module). The first tire rolled off the line in early 2006 when the company employed a staff of 81 people. It has since undergone three expansion projects, more than doubling the size of the facility and now employing a staff of more than 1,000.

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