26th February 2007 - Ownership Change of AutoPartSource / New World Friction

Effective 23 February 2007, AutoPartSource has been acquired by Amalfe Brothers Inc of New Jersey.  The former President of AutoPartSource, Frank Pagano, will focus his attention on Conti-Seal Inc, and its global sourcing initiatives.  He has sold his interest in AutoPartSource and New World Friction to Amalfe Brothers Inc.  Amalfe Brothers Inc is a family owned with over 60 years of automotive aftermarket experience that includes manufacturing, wholesale distribution and retail operations.  Amalfe Brothers will provide new opportunities to enhance the capabilities of AutoPartSource and will also provide new capital to expand it current product offerings.  Amalfe Brothers Inc. has selected John Paul Amalfe as the President of AutoPartSource.  The management team at AutoPartSource is excited about the new growth opportunities that this acquisition will provide the company.

Source: AutoPartSource Press Release