LKQ announced yesterday that it has acquired businesses since the beginning of the first quarter. The companies primarily deal in remanufacturing or aftermarket parts, and include: Cross Canada, a Canadian aftermarket parts distributor with operations in 5 provinces; PROformance Powertrain, an engine remanufacturer out of Springfield, MO; SPI Distribution, an aftermarket parts distributor; Best Bumper, a Texas bumper remanufacturer, an automotive recycler in Virginia and a self-service recycling company in Colorado.
In a press release… Read the rest
The Cash For Clunkers program has been wildly successful, burning through the initial $1 billion allocated to the program within a couple weeks. Harry Reid has said that the Senate will OK another $2 billion before the August recess. The obvious beneficiaries are the auto makers and auto parts suppliers, but one pure play may be overlooked and that’s LKQ Corp (LKQX) which is the largest auto parts recycler in the nation with 280 facilities.… Read the rest
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