Motorcar Parts Of America Acquires Reliance Automotive
August 21, 2009 (FinancialWire) — Motorcar Parts of America, Inc. (NASDAQ: MPAA) announced it has completed the acquisition of certain assets of Reliance Automotive, Inc., a privately held remanufacturer of alternators and starters based in East Berlin, Connecticut. Terms were not disclosed.
“This transaction continues an acquisition strategy designed to further enhance the company’s market share in North America, including the addition of a major automotive retail customer. We expect that this will be a basis for solid revenue growth. We look forward to building our new customer relationships and providing the highest level of quality and service,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.
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