LKQ BOSS: INVESTMENTS UNDER REVIEW ‘TO SECURE LIQUIDITY’

Arnd Franz, CEO of LKQ Europe has spoken in an interview about the direction of the group as the region emerges from lockdown. 

Speaking to German weekly, Automobilwoche, Franz explained that investments planned by the company needed to be under close review ‘not only to adjust capacity, but also to secure liquidity’.

READ:  WALKOUT AT EURO CAR PARTS

However, Franz was keen to point out that any review did not affect the large distribution centre, currently under construction in the Netherlands.

“We are providing a medium double-digit million-euro amount for this. Our plan is to complete this project by the end of the year. This will not change at all” he said.

READ: LKQ CONFERENCE FOCUSSES ON CHANGE MANAGEMENT

Also in the interview, Franz explained that independent garages might see some business return soon, though 2020 will understandably be down on 2019. ‘Perhaps we will have a chance of recovery towards the end of the second quarter, but perhaps not until the third quarter’ he said.

Last month he explained in another interview that an ‘integration’ of the systems and processes used by the firm’s many brands over Europe was required.

 

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

‘Around a third’ former UKPA branches now have GSF signage

Re-branding exercise continues apace, according to posts from the company

Read More

Nissan to target out of warranty vehicles

New servicing plan aimed at three to ten year-old segment two and three vehicles

Read More

Cazoo to acquire Italian used car group

€80m deal takes online retailer into fifth European country

Read More

IAAF: ‘Unclear’ if UK will extend BER rules

Apparent ‘lack of desire’ from UK government to extend rules in line with EU states

Read More

ECP extends Kawasaki British superbike sponsorship

Factor chain to renew deal with youngest rider in the Championship

Read More

Join the debate

1 Comment

Leave a Reply to Sebastian Jonnson Cancel reply

Your email address will not be published. Required fields are marked *

  1. History shows that when things get tough the American aftermarket operations sacrifice their overseas interests and retreat to the home market. Especially when there is such a high borrowing level in a market where its tough to make the margins expected by Wall Street.