Correction: Remy International Signs Supply Agreement with DMA
PENDLETON, Ind., June 14, 2012 /PRNewswire/ -- Remy International, Inc. (OTC-PINK: RMYI), a global leader in the manufacturing and distribution of starters, alternators, and electric traction and hybrid motors, announced today the signing of a long-term supply agreement with DMA (Derindere) in Istanbul, Turkey. DMA will use Remy's HVH250 motor to power their all electric sedan.
DMA will install Remy's HVH 250 machine as the traction motor in the 5-passenger all electric sedan, which will be available during the third quarter of 2012.
"DMA is an established innovator in the electric vehicle space," said Kevin Quinn, Remy Electric Motors VP/General Manager. "We are proud to partner with them in bringing advanced technologies into their growing market."
The DMA ALL ELECTRIC Sedan will feature the comfort of a touring sedan with the range of about 200 miles. Delivering performance that is superior to most all internal combustion engines, the ALL ELECTRIC Sedan will achieve a top speed of 110mph (180kph).
The pursuit of hybrid and electric motor solutions is especially significant in Turkey, which has the highest fuel costs among members of the European Union. Turkey's Energy Market Regulatory Board (EPDK), is presently conducting studies to facilitate stability in the energy markets. The Remy/DMA partnership supports their suggested transportation manufacturing initiatives.
"Remy's HVH 250 is the perfect solution for our ALL ELECTRIC sedan," said Onder Yol, CEO of DMA. "We provide long-term leases and short-term rentals for a variety of fleet and private customers. As a self-contained organization with a forty-year history of operating multiple dealerships, we must provide our customers with a platform that is reliable and efficient. Remy's HVH 250 delivers world-class performance in all categories."
DMA is a joint venture between Promeks Dis Ticaret, A.S., and Derindere Otomotiv, A.S. DMA has been involved in the research and development of electric vehicles for over six years. They operate a self-insured long-term leasing company with over 14,000 cars, a short- term rental company with over 2,000 cars, and multi-vehicle dealerships including one of the largest Toyota dealership in Europe.
About Remy International, Inc.
Remy International traces its origins to 1896, when the Remy Brothers founded a wiring business in Anderson, Ind. Today, Remy International, Inc. is a leading global manufacturer and remanufacturer of alternators, starter motors, and electric traction motors, headquartered in nearby Pendleton. With global operations across four continents and 10 countries, Remy International markets products under the Remy® and Delco Remy® trademarks. Known for innovation, efficiency, quality, and best-in-class customer service and support, Remy International's products are integrated by leading industrial, specialty, automotive, and heavy-duty OEMs and aftermarket providers worldwide.
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SOURCE Remy International, Inc.