Automotive Importing Manufacturing, Inc. (AIM) recently announced that it has sold its remanufacturing operations to Motor Car Parts of America (MPA). The company, which is based in Rancho Cordova, Calif., has signed a definitive agreement to sell certain assets, including its operation which produces and sells new and remanufactured alternators and starters. The terms of this agreement, which is expected to close in mid-May, have not been disclosed.
"I am pleased to announce this agreement," says AIM President and CEO, Steve Seabourne. "We know that Motorcar Parts of America will continue our tradition of excellence in customer service. The Seabourne family is also pleased to announce that it will retain the AIM Parts brand and continue to sell components and finished units to the company's loyal rebuilder customers."
In commenting on the acquisition, Selwyn Joffe, chairman, president and chief executive officer of MPA, says: "This acquisition will add to our customer base and provide product line expansion, including the addition of heavy duty truck business. We anticipate a seamless integration once the transaction is completed, with a commitment to enhanced customer service and synergies."
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