ANDERSON, Ind., Nov. 20 /PRNewswire/ -- Remy Worldwide Holdings, Inc.
today announced that it received bankruptcy court approval for the sale of
its subsidiary operation M&M Knopf Auto Parts, which is one of the largest
distributors of recycled auto parts to the worldwide remanufacturing market
and is also a global distributor of Saginaw Steering systems. A definitive
agreement was entered on November 6 to sell the business.
    "The sale of Knopf reflects the continued progress Remy has made in
focusing on its core operations over the last year," said John Weber Chief
Executive Officer. "This is a win-win situation for both parties and we are
pleased to see the Knopf brothers return to ownership of their family
business. The Knopf brothers are excellent businessmen and are best suited
to continue to grow this business. Remy will have a continued involvement
with the Knopfs going forward and we wish them well in their future
endeavors."
    The completion of the transaction is subject to customary closing
conditions and is expected to close on December 4, 2007.
    The Company filed its voluntary pre-packaged chapter 11 petitions and
plan of reorganization in the U.S. Bankruptcy Court for the District of
Delaware in Wilmington.
    About Remy
    Remy International, headquartered in Anderson, Indiana, is a leading
manufacturer, remanufacturer and distributor of Delco Remy brand heavy-duty
systems and Remy brand starters and alternators, locomotive products 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.
    Caution Regarding Forward-Looking Statements:
    This press announcement contains statements relating to future results
of the Company that are forward-looking statements. Any statements set
forth in this press announcement with regard to its expectations as to
financial results and other aspects of its business may constitute
forward-looking statements. 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. The Company cautions readers that
any such forward-looking statements are based on assumptions that the
Company believes are reasonable, but are subject to a wide range of risks
including, but not limited to, risks associated with being a debtor in
possession in a chapter 11 proceeding including the confirmation of the
prepackaged plan of reorganization, with the satisfaction of the conditions
to the plan support agreement, including, but not limited to, as a result
of the occurrence of a termination event thereunder, the satisfaction of
conditions to funding occurring under both DIP and exit financing loan
commitments and the occurrence of a termination event thereunder, future
financial results and liquidity including the Company's continued ability
to finance its operations in the normal course during the chapter 11
proceeding, the Company's relationship with and payment terms provided by
its trade creditors, additional financing requirements, compliance with
renegotiated key supplier agreements, dispositions, acquisitions and
integration costs, development of new products and services, the effect of
competitive products or pricing, the effect of commodity and raw material
prices, the impact of supply chain cost management initiatives,
restructuring risks, enterprise resource planning implementation risks,
customs duty claims, litigation uncertainties and warranty claims,
conditions in the automotive industry, foreign currency fluctuations, costs
related to re-sourcing and outsourcing products, the effect of economic
conditions and other uncertainties previously detailed in the Company's
filings with the SEC. Due to these uncertainties, the Company cannot assure
readers that any forward-looking statements will prove to have been
correct. Remy International is under no obligation to (and expressly
disclaims any such obligation to) update or alter any forward-looking
statements whether as a result of new information, future events or
otherwise.

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