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
bolt.monica@remyinc.com 765-610-6034
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SOURCE Remy International, Inc.