Volume 34, Number 7, July 1999

 

USGAUTO NEWS

Safelite Reports Total Sales/Announces New Agreement with American Family
Safelite Glass Corporation of Columbus, OH, has reported total sales of $217.8 million for the quarter ending April 3, 1999. This was an increase of 2 percent over the quarter ending the same time the previous year. The company’s earnings before interest, taxes, depreciation, amortization, restructuring and other one-time charges were $20 million. A net loss for the quarter was $3.9 million, compared to a loss of $4.3 million in the prior year. The fourth quarter net income was affected by a $4 million extraordinary charge taken in connection with the partial repayment and refinancing of the company’s bank credit facilities, according to the company.

In other news, American Family Insurance has named Safelite as its auto glass program administrator. Safelite began processing claims from Colorado and Iowa in July. Approximately 30 days later, Safelite will start handling vehicle glass claims from the company’s additional 12 states of operation.

Harmon Solutions Group Moves
The Harmon Solutions Group of Minneapolis has relocated its Des Moines facility to a new 8,000-square-foot facility which is double the size of its former location. The Des Moines facility is in the process of testing new communications technology that would speed information reporting from field adjusters while reducing long distance costs, according to the company. The 24-hour service center employs 50 people, and can be further expanded to 17,000-square-feet.

Donnelly and Schott Join Forces
Donnelly Corp. and Schott Corp. have joined forces to design and manufacture electrochromic windows. The new company, Schott Donnelly LLC Smart Glass Solutions, will be a 50/50 joint venture owned by Donnelly and Schott and will be based in Tucson, AZ. The company will provide electrochromic glass for automotive and architectural applications.

Donnelly Corp., based in Holland, MI, produces and sells electrochromic mirrors that automatically dim to reduce headlight glare during night time driving. Schott Corporation, based in Yonkers, NY, is a wholly-owned subsidiary of Schott Glass, based in Germany, and a leading producer of specialty glass products.


USG

Copyright 1999 Key Communications, Inc. All rights reserved. No reproduction of any type without expressed written permission.