6/18/2009
PROFormance Technologies Sells Mexican Remanufacturing Interest
MexiMotor buys Automotive Remanufacturers de Mexico, S. de R.L. de C.V., an established automotive parts remanufacturer located in Aguascalientes, Mexico.
PROFormance Technologies, LLC has announced that Administradora de
Autopartes Remanufacturadas, S.A. de C.V., (Trade Name MexiMotor), has
acquired their interest in Automotive Remanufacturers de Mexico, S. de
R.L. de C.V., an established automotive parts remanufacturer located in
Aguascalientes, Mexico. The acquired interest that PROFormance held was
previously a business segment of Recon Automotive Remanufacturers and
was part of a sale of Recon's assets to PROFormance. The acquisition of
interest by MexiMotor fulfills PROFormance's strategic initiative to
focus on the growing US market for aftermarket automobile parts.
"PROFormance continues to grow its remanufactured engine business in
the United States. By exiting the Automotive Remanufactures de Mexico
S. de R.L. de C.V., PROFormance can accomplish two goals. The first, to
successfully transact the business interest to our partners in Mexico
who have been fundamental in the operation of the business; and two, to
allow our in-house team to continue to focus on our ever expanding
business in the United States" says Clint Georg, President and CEO of
PROFormance.
"We are very proud to be acquiring PROFormance's interest in the
operation. Working with PROFormance helped us improve our quality and
efficiencies, and we will now focus more on the local market and
expanding our presence throughout Mexico and Latin America" says
Adalberto Ortega, President of MexiMotor.
The financial terms of the transaction were not released.
About
PROFormance Technologies LLC - PROFormance Technologies is a leading
remanufacturer of OE quality engines and veteran Tier 1 supplier to the
OEMs. The company offers an extensive product line produced from its
ISO 9001:2000 certified facility and provides more than 40,000 engine
applications from 1965-2009. National distribution is facilitated
through multiple, strategically located, distribution facilities across
the country providing more a average of 97% fill rate and delivery
within 48 hours. For more information go to
www.goppt.com.
About Automotive Remanufacturers de Mexico, S. de R.L. de C.V. - Since
1974, the Ortega Family has been producing high quality remanufactured
automotive products. Its main facility is located in Aguascalientes,
Mexico, an area named by Inc. Magazine as a New Global Hot Spot for
Business (October 2007) and by the World Bank as No. 1 in the Country
for ease of doing business. The facility maintains ISO operational and
environmental standards, employs TQM and Lean Manufacturing production
principles and has a proven track record of building exceptional
quality products. The company operates under the trade name MexiMotor.
For more information go to
www.MexiMotor.com.