PROFormance Technologies Acquires Automotive Remanufacturers de MexicoNew business unit builds remanufactured automobile engines to ISO 9001 standards
SPRINGFIELD, Mo., Oct. 30 /PRNewswire/ -- PROFormance Technologies, LLC announced today that it has acquired a controlling interest in Automotive Remanufacturers de Mexico S. de R.L. de C.V., a leading automotive parts remanufacturer located in Aguascalientes, Mexico. The acquired company was previously a business segment of Recon Automotive Remanufacturers and was part of a sale of Recon's assets to Proformance. The acquisition provides PROFormance expanded production capacity, a broadened product offering and entry into the Mexican and Central American markets for remanufactured automobile engines. "PROFormance continues to grow its remanufactured engine business. The acquisition of Automotive Remanufacturers de Mexico allows us to support our growth initiatives, provides us a channel to sell into the Mexican market and accelerates our ongoing product development by quickly bringing new engine categories on line," said Clint Georg, President and CEO of PROFormance. The company will operate the Mexican unit as PROFormance Powertrain Products, Mexico. Currently, it produces engines under ISO 9001 standards and sells to the US and Latin American markets. In parallel to the acquisition, PROFormance has increased the capacity of the Mexican operation by installing numerous state-of-the-art production machines, including CNC equipment. PROFormance continues to invest in relevant tools to ensure quality. The Mexican operation utilizes Total Productive Maintenance (TPM) principles for quality and efficiencies and recently redesigned its production flow based on the highly successful Lean Management production principles employed at PROFormance's Springfield, MO facility. "We are very proud to be an integrated part of the PROFormance group," said Beto Ortega, President of PROFormance, Mexico, "Each operation has individual strengths that, when combined together, will help the whole organization diversify rapidly into new markets and bring to market product offerings with unsurpassed quality standards." The city leaders in Aguascalientes have welcomed PROFormance's new venture, wished them well, and confirmed their ongoing support. The financial terms of the acquisition were not released. Financing for the transaction was provided by LaSalle Business Credit LLC, a leader in asset-based lending. About PROFormance Technologies LLC - PROFormance Technologies is a leading remanufacturer of OE quality engines and veteran Tier 1 supplier to the OEMs. The company offers an extensive product line produced from its ISO 9001:2000 certified facility and provides more than 30,000 engine applications from 1965-2006. National distribution is facilitated through multiple, strategically located, distribution facilities across the country providing more than 97% coverage and delivery within 48 hours. For more information go to www.goppt.com. About Automotive Remanufacturers de Mexico S. de R.L. de C.V. - Since 1974, the company has been producing high quality remanufactured automotive products. Its main facility is located in Aguascalientes, Mexico, an area named by INC Magazine as a New Global Hot Spot for global business (October 2007) and by the World Bank as No. 1 in the country for ease of doing business. The facility maintains ISO operational and environmental standards, employs TQM and Lean Manufacturing production principles and has a proven track record of building exceptional quality products.
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