ANDERSON, Ind., March 22 /PRNewswire/ -- Remy International, Inc., today
announced that it has completed its acquisition of the assets of Unit Parts
Company (UPC), based in Oklahoma City.
Unit Parts is a major supplier to the automotive aftermarket for new and
remanufactured starters and alternators, offering custom branding, packaging
and logistics solutions as well as complete engineering and support services.
"The combination with UPC cements our number-one position in the electrical
aftermarket and strengthens our financial outlook. This acquisition is a
'Win-Win' for Remy and UPC," said Remy International President and CEO, Thomas
J. Snyder.
As previously announced, UPC will remain headquartered in Oklahoma City
and operate as a division of Remy's Electrical Aftermarket.
Remy International, Inc., headquartered in Anderson, Indiana, is a leading
manufacturer, remanufacturer and distributor of Delco Remy brand heavy duty
systems and Remy brand starters and alternators, diesel engines and hybrid
power technology. The company also provides a worldwide, components core-
exchange service for automobiles, light trucks, medium and heavy-duty trucks
and other heavy-duty, off-road and industrial applications. Remy was formed
in 1994 as a partial divestiture by General Motors Corporation of the former
Delco Remy Division, which traces its roots to Remy Electric, founded in 1896.
More information is available at the company's website: http://www.remyinc.com
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press
release consists of forward-looking statements within the meaning of the
federal securities laws. These statements relate to the Company's future
plans, objectives, expectations and intentions and may be identified by words
like "believe," "expect," "may," "will," "should," "seek," or "anticipate,"
and similar expressions. These forward-looking statements involve a number of
risks, uncertainties and other factors, which may cause the actual results to
be materially different from those expressed or implied in the forward-looking
statements. Important factors that could cause the statements made in this
press release to differ are discussed in the Company's Form 10-K Annual Report
for the year ended December 31st, 2003 and in subsequent filings. The Company
does not intend to review or revise any particular forward-looking statement
in light of future events.
SOURCE Remy International, Inc.
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Related links:
http://www.remyinc.com
Company News On-Call:
http://www.prnewswire.com/comp/111635.html
CONTACT:
John Pyzik of Remy International, Inc.,
+1-765-778-6607
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