FPT Forges Auto Hulk Connection

Soave Enterprises, the Detroit-based holding company that is the parent of Ferrous Processing and Trading (FPT), has teamed with auto parts and dismantling veteran Bill Wild to form Parts Galore, a self-service, used auto parts retail outlet.

With an initial investment of $5 million, Parts Galore will open its first store in Detroit this spring. Soave Enterprises plans on opening additional Parts Galore outlets in Michigan and Ohio, with sites in Cleveland and Toledo already being scouted.

Parts Galore customers will be able to remove and purchase parts from an inventory of used automobiles located on the 18-acre Parts Galore initial location on 8 Mile Rd. in Detroit. A company news release states that an inventory of 2,500 cars and trucks is anticipated for the site. The company anticipates that consumers seeking auto parts will always have a vast selection of quality used parts from which to choose.

With an expected monthly turnover of more than 1,000 vehicles, the operations should also yield scrap automotive hulks for the nearby auto shredders operated by companion company FPT.

The scrap recycling subsidiary of Soave Enterprises operates several shredders in and around Detroit as well as in other Great Lakes markets in which Parts Galore is planning to operate.

Soave Enterprises has a presence in several industry segments, including recycling, transportation, logistics, real estate, industrial services and beverage distribution. Forbes magazine has estimated the company to be the nation’s 268^th largest privately held company, with more than $1 billion in annual revenue and 2,400 employees.