WOODBRIDGE, Ontario, July 24, 2017 (GLOBE NEWSWIRE) -- D&V Electronics today announced it has accepted an offer to be acquired by Motorcar Parts of America (Nasdaq: MPAA ) and will operate as an independent testing company. Terms of the agreement were not disclosed.
Motorcar Parts of America’s investment will provide D&V the opportunity to grow its existing business and develop new investigative tools for use by technology developers and manufacturers of vehicle electrification products.
“This is a very exciting time for D&V, as the investment will allow D&V to build on the legacy of our founder Dr. Voiko Loukanov and his vision of building world class testing systems. We look forward to providing our clients with additional insight into the rapidly changing field of vehicle electrification,” said Kalina Loukanov, executive director of D&V Electronics.
About D&V Electronics Founded in 1997, with customers in more than 90 countries, D&V Electronics designs and manufactures leading edge test equipment for performance, endurance and production testing of electric motors, inverters and belt starter generators for the EV/HEV industry. D&V is the leading supplier of testing equipment for the alternator and starter industry worldwide -- offering a comprehensive collection of testing equipment for OEM’s, Tier One suppliers and the aftermarket. Additional information is available at www.dvelectronics.com .
About Motorcar Parts of America, Inc. Motorcar Parts of America, Inc. is a remanufacturer, manufacturer and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake master cylinders, brake power boosters, and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy-duty applications. Motorcar Parts of America’s products are sold to automotive retail outlets and the professional repair market throughout the United States and Canada, with facilities located in California, Mexico, Malaysia and China, and administrative offices in California, Tennessee, Mexico, Singapore, Malaysia and Canada. Additional information is available at www.motorcarparts.com .
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2017 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
CONTACT: Gary S. Maier Maier & Company, Inc. +1 310-471-1288
