LKQ boss ‘confident’ of $55m cost savings

LKQ Corporation’s CEO Dominic Zarcone has said that combining Uni-Select’s business with its own will result in annual cost savings running to millions of dollars.

Dominic Zarcone (file photo)

Speaking on an investor conference call confirming Monday’s announcement that LKQ is to acquire the entirety of the Canadian company, Mr Zarcone said: “There are $55m of cost savings that we are confident that will be fully attained within three years of closing”. 

READ:  Sukhbir comments on LKQ/Uni Select deal

He added that he was ‘fully confident’ that the acquisition would not affect LKQ’s investment-grade rating. Zarcone also confirmed that LKQ would be putting GSF Car Parts up for sale in order ‘to be responsive to the antitrust process in the UK’.

Published by Greg Whitaker

Editor of CAT Magazine and an experienced motoring journalist @GregWhitaker5

Latest Factor & Accessory

View all Factor & Accessory articles

Aftermarket leaders call for government to support independent garages in Autumn Budget

New policy document emphasises need for help with the transition to EVs and more advanced vehicles

Read More

GSF to consider opening another 40 branches

“Knock-out” growth will spur even faster expansion of motor factor

Read More

GSF launches Porsche Parts division

New arm focusing on German marque will start with supplying South East England before a national roll-out

Read More

Government warning as one in six are buying fake aftermarket car parts

Research has estimated that vehicle counterfeit parts imported to the UK were worth almost £1 billion each year

Read More

Dacia and Renault launch official Ebay parts stores

Romanian and French brands join the likes of BMW, Ford and Toyota on the online marketplace

Read More

Join the debate

1 Comment

Your email address will not be published.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

  1. This is just want the money men on Wall Street like to hear. Especially when you have borrowed billions.
    Savings in a business like this can only come from reductions in people or inventory.