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Remy International completes acquisition of Maval Manufacturing

03.06.2015
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.