NIAGARA ON THE LAKE, ONTARIO (NOV. 15, 2007) - MAHLE Clevite Canada ULC announced today that they completed the purchase of Canadian Engine Parts 1 Inc. Engine Parts 1 currently serves the Canadian engine parts market with 5 strategically located warehouses across the country - this Acquisition transfers ownership to MAHLE Clevite Canada.
This transaction enables MAHLE Clevite to position itself to better service the needs of the Canadian engine parts market. Additionally, this supports the implementation of the MAHLE Clevite value-added initiatives allowing them to focus directly on servicing the engine parts aftermarket in concert with their customer base. This MAHLE Clevite initiative also establishes an important step in assuring our valued customers of the long-term commitment for the supply of MAHLE Original, Clevite, Perfect Circle and Victor Reinz products.
Michael Tate, MAHLE Clevite general manager says, "The acquisition of Engine Parts 1 is a great arrangement for our customers. It allows us to deliver our premier engine parts, combined with the utmost level of service and engine expertise that we are known for."
MAHLE Clevite Inc. is one of the world's largest suppliers of pistons, valve train parts, engine bearings, piston rings, and engine gaskets. MAHLE Clevite brands include MAHLE Original® pistons, assemblies, valves, cylinder liners, Clevite® engine bearings and engine parts, Victor Reinz® gaskets and Perfect Circle® piston rings. In addition, Clevite®, Victor Reinz® and Perfect Circle® are official NASCAR® Performance Products. MAHLE Clevite's Internet address is
www.mahleclevite.com.
The MAHLE Group is one of the 30 largest automotive suppliers worldwide. As the leading manufacturer of combustion engine components, systems and peripherals, MAHLE is among the top 3 suppliers for piston systems, cylinder components, valve train systems via air management systems and liquid management systems. MAHLE employs more than 40,000 employees in 110 production plants and in seven research and development centers. In 2006, MAHLE generated sales in excess of EUR 4.3 billion (USD 5.8 billion).
