Midas Drops Exhaust Manufacturing Business

Midas, Inc. has announced the firm’s intention to leave the exhaust manufacturing business and has entered into an agreement calling for AutoZone to be the exclusively endorsed supplier of Arvin brand exhaust products to the more than 1,600 Midas shops in the United States. Midas is continuing discussions with Uni-Select in Canada for an alternate supply of exhaust products for the Canadian Midas shops. The exhaust products will be supplied to AutoZone by the Light Vehicle Aftermarket division of ArvinMeritor and will replace Midas-brand products currently manufactured by Midas and sold to Midas shops by AutoZone. Under a separate agreement, ArvinMeritor will purchase certain IPC-brand exhaust assets from Midas. “These new agreements with AutoZone and ArvinMeritor ensure that Midas shops will continue to have a supply of high-quality, competitively priced exhaust products so they can continue to compete effectively in their markets,” said Alan D. Feldman, Midas’ president and chief executive officer. “By the end of this year, Midas will close its exhaust manufacturing and distribution facilities, which had become an unprofitable business for the company.” Midas provides service at more than 2,600 franchised, licensed and company-owned Midas shops in 19 countries, including more than 1,800 in the United States and Canada.