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Remy Inc. received final approval for $60.2 million government grant

05.27.2010 Remy issued a press release communicating the final approval from the U.S. Department of Energy for Remy’s $60.2 million American Recovery and Reinvestment Act Grant.

Remy President and CEO John Weber said, “These funds help Remy establish a strong domestic manufacturing base for electric drive motor technology. The funds will be used to ACCELERATE programs already underway. We have already demonstrated our ability in this marketplace and are producing great product in Remy facilities in Hungary and Mexico. Our keystone is our billion miles of proven reliability. We must move quickly to capitalize on this great market position. "

To read more about the DOE Grant and its approval visit http://remyinc.mediaroom.com/index.php?s=43&item=215