Tag Archive | "Federal Mogul"

WRS MOTOR FACTORS JOINS A1 BUYING GROUP

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WRS MOTOR FACTORS JOINS A1 BUYING GROUP


Somerset-based WRS Motor Factors Ltd has joined buying group A1.

New brands will arrive at WRS

Weston Recovery Services (WRS) was established in Weston-Super-Mare by Robert and Lynn Hopkins in 1983. Today, it has an around the clock breakdown and recovery service.

WRS Motor Factors Ltd was subsequently incorporated in 2006 after some years trading under the Weston Recovery Services umbrella. Operating out of four branches across the Somerset area; Weston-Super-Mare, Shepton Mallet, Wellington and Bridgwater, it supplies many brands such as NGK, Lucas, Mahle and Britpart, as well as stocking a full range of Motaquip products.

Martin Tier of WRS, said: “It’s very important that we have a voice and aren’t just a number and after speaking with them, we feel A1 offer the right environment for us.

“Communication is a key part of this group,” says Simon Salloway, Head of Operations at A1. “We’re all working together. Everyone’s feedback and input is valued, and our combined knowledge and purchasing power form the foundations of our collective success. By listening to each other and working together, we can get a stronger hold in this increasingly competitive industry.”

The businesses trade as WRS Motaquip and this won’t change as the company will continue to buy hard parts from Motaquip. However, the move will widen the factor’s access to brands.

The A1 Motor Factor Group has added a number of well- known names to its network of suppliers in recent months. These include Hella-Hengst, Federal-Mogul and National Auto Parts.

Posted in Factor & Supplier News, Garage News, Latest News, latest news, News, Retailer NewsComments (0)

TENNECO ACQUIRES FEDERAL MOGUL

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TENNECO ACQUIRES FEDERAL MOGUL


Emission parts firm Tenneco has acquired Federal Mogul from Icahn Enterprises in a deal valued at $5.4B.

Following the acquisition, Tenneco has also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders; establishing,  ‘Aftermarket & Ride Performance Company’ and ‘Powertrain Technology Company’. The agreement is expected to complete in the second half of 2018, subject to regulatory and shareholder approvals with the separation taking place in late 2019.

Brian Kesseler, CEO of Tenneco, said: “Federal-Mogul brings strong brands, products and capabilities that are complementary to Tenneco’s portfolio and in line with our successful growth strategies. Unleashing two new product focused companies with even stronger portfolios will allow them to move faster in executing on their specific growth priorities.”

Carl C. Icahn, Chairman of Icahn Enterprises, added: “Icahn Enterprises acquired majority control of Federal-Mogul in 2008 when we saw an out-of-favor market opportunity for a great company. I am very proud of the business we have built at Federal-Mogul and agree with Tenneco regarding the tremendous value in the business combination and separation into two companies. We expect to be meaningful stockholders of Tenneco going forward and are excited about the prospects for additional value creation,” he concluded.

Posted in Exhausts, Factor & Supplier News, Garage News, Latest News, News, Retailer News, Shock AbsorbersComments (0)

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