Bapcor Ltd (ASX:BAP) shares up as company divests tyre and wheel business

Shares in Australian trade company focused on automotive after parts, Bapcor Ltd (ASX: BAP) are up 0.8% to $6.69 at the time of writing on the announcement of the sale of its New Zealand tyre and wheel business today.

Bapcor will divest its TRS Tyre and Wheel business to Trelleborg Wheel Systems – a subsidiary of Swedish listed Trelleborg AB.

Annual sales out of TRS are around NZ$27 million but offloading it will allow Bapcor to reinvest in its core automotive aftermarket businesses, with Trelleborg planning to expand TRS due to its focus on polymer solutions.

Bapcor has been travelling well of late, printing a record high on June 12 when its share price hit $6.88, with a focus on staged global expansion into Asia – with five Asian stores to open by Christmas.

Elsewhere in the automotive sector, ARB Corporation Limited (ASX: ARB) is also picking up the pace on its overseas growth plans with GUD Holdings Limited (ASX: GUD) yesterday announcing the appointment of a former Ford executive as its new CEO.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended ARB Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!