Replacement car part maker LKQ Corp. said on Friday that it has arranged $1 billion in borrowing, replacing a $750 million line due to expire in October 2013. Get the full story »
Inside these posts: Auto parts supplier
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Sources: GM planning to drop Goodwrench in U.S.
From Automotive News | General Motors Co. is dropping the GM Goodwrench car mechanic brand in the United States as the company moves to redirect the marketing emphasis around its four core vehicle brands, sources say.
LKQ Corp. tops Street; company ups earnings view
Automobile-parts recycler LKQ Corp. posted third-quarter results that beat market estimates, partly helped by a rise in its parts and services revenue, and raised its full-year 2010 adjusted earnings outlook.
LKQ, with a market value of about $3.14 billion, buys wrecked cars at auctions and salvages reusable parts like engines and doors, and distributes them to mechanical repair shops or directly to customers. Get the full story »
Court OKs Visteon’s bankruptcy plan
Visteon Corp. received court approval Tuesday to exit bankruptcy, ending a 15-month fight among hedge funds, lenders and an industry giant for a piece of the revived auto-parts maker.
Visteon’s reorganization caps a two-year stretch in which dozens of U.S. automotive companies collapsed into bankruptcy. Chrysler, General Motors, Delphi Corp. and Lear Corp. used Chapter 11 to remove crushing debt, shed obligations and close underutilized factories. Get the full story »
