13th
November 2007 - Affinia Acquires
Assets From Brake Pro
Affinia Expanding its Presence in the
Medium and Heavy-Duty Friction Market
ANN ARBOR, MICHIGAN, November 13, 2007 –
Affinia Group Inc., a global leader in the on and off highway
replacement products and service industry, announced that it has
acquired certain assets of Brake Pro, Ltd., Ontario, Canada, under the
Companies’ Creditors Agreement Act of Canada. Among other items, the
purchase includes manufacturing equipment, friction formulations and
unrestricted rights to the brand name. Financial terms of the
transaction, which was completed on November 7, 2007, were not
disclosed.
Affinia is in the process of relocating the physical assets to its own
North American manufacturing facilities, and will resume production of
the Brake Pro® product line. Affinia expects to have Brake Pro brand
product offerings in the marketplace as quickly as possible after the
asset transition and manufacturing integration is complete.
“The Brake Pro name is highly respected in the industry because of the
consistently high performance of their proprietary friction products.
The Brake Pro line will enhance our existing brake block and medium
duty product offerings. More importantly it will put us back into the
heavy duty segment, and the Brake Pro line will give us a great
product offering for severe duty applications such as waste handling
equipment, logging equipment, construction vehicles and transit
applications,” said John R. Washbish, President of Affinia’s Under
Vehicle Group. Washbish went on to say, “The market can expect to see
Brake Pro product from us as quickly as we can reset the equipment.”
Affinia Group Inc. is a global leader in the on and off highway
replacement products and service industry. In North America the
Affinia family of brands includes WIX® filters; Raybestos® brand
brakes, Brake Pro®, and AIMCO® brake products, and McQuay-Norris® and
Spicer® Chassis parts. South American and European brands include
Nakata®, Filtron®, Urba® and Quinton Hazell®. For more information,
visit
www.affiniagroup.com.
Source: Affinia Group Press Release