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Fenton, MO - AMS
Automotive is pleased to announce the
acquisition of certain assets of
Universal Automotive Industries (UAI)
headquartered in Alsip, IL.
Under the agreement, AMS has purchased
the Autospecialty clutch program, which
consists of new clutch kits and clutch
hydraulics, along with other related
products including bushings, bearings,
forks and flywheels.
UAI services numerous program
distribution groups including AIM/CMB,
APA, IWD, Pronto and RPM. Notable
distributors include Murray's Discount
Auto Stores and Uni-Select USA.
All OEM branded products will be
transferred to AMS headquarters in
Fenton. The remainder will be auctioned
as scrap material.
On January 13, 2004, UAI purchased the
Autospecialty, ValuMaxx and Power Stop
brand from TRW for $11 million in cash
plus additional contingent payments. On
May 26, 2005, UAI filed voluntary
petitions for reorganization under
Chapter 11.
According to Ron Jackson, President of
AMS, "Although we've already converted
many of the Autospecialty customers to
our New Generation, RhinoPac or
Professional's Choice branded programs,
we intend to aggressively act to ensure
that any remaining Autospecialty
customers turn to AMS. Our unique
combination of quality, service, IT
capabilities and value, offer a
refreshing alternative."
Mr. Jackson continued, "Customers will
be better served by our enlarged
organization. We've established a proven
track record within the North American
aftermarket during the past two decades,
and this acquisition will further
strengthen our market presence." |
