Remy International Completes Acquisition of Maval Manufacturing
Strategic acquisition strengthens Company's product portfolio
PENDLETON, Ind., March 4, 2015 /PRNewswire/ -- Remy International, Inc. (NASDAQ: REMY), announced today that it has completed its previously announced acquisition of substantially all assets of Maval Manufacturing, Inc. ("Maval"), a Twinsburg, Ohio manufacturer, remanufacturer, and distributor of steering systems, components, and specialty products to the automotive service, original equipment power sports, and off-road specialty vehicle markets.
"We are extremely excited about this strategic acquisition, as it adds a completely new product line that is very complementary to the Remy portfolio. These unique products will provide more value to our customers who look to us to help them manage ever increasing demands and availability of high quality products for the aftermarket," said Jay Pittas, Remy President and Chief Executive Officer.
Maval Manufacturing was the first independent remanufacturer to achieve a QS 9000 ranking for their steering products and they are a global leader in off-road and classic car steering systems. Their quality, management talent, and market position made the company attractive to Remy, according to Pittas. Maval will retain their brand identities for their core products as well as their Unisteer and Wicked Bilt lines.
About Remy International
Founded by the Remy Brothers in 1896, Remy International, Inc. is a leading global manufacturer and remanufacturer of alternators, starter motors, electric traction motors, and multiline products. Headquartered in Pendleton, IN, with global operations across five continents and 10 countries, Remy International markets products under the Delco Remy®, Remy®, World Wide Automotive® and USA Industries® brands. 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. We Start the World & Keep It Running™. www.remyinc.com.
About Maval Manufacturing
Founded in 1987 by corporate refugees who felt there must be a better way to remanufacture import power steering gears and pumps, Maval has grown to become one of the nation's foremost hydraulic remanufacturers as well as a worldwide leader in the production of off-road steering systems. Maval's unsurpassed quality and production/design flexibility has made it the choice of OEM's worldwide as a source of both remanufactured and new steering systems. http://www.mavalgear.com.
Contact: Monica Bolt [email protected] 765-610-6034
Logo - http://photos.prnewswire.com/prnh/20140718/128559
SOURCE Remy International, Inc.
Share this article