Standard Motor Products Announces Acquisition of the Engine Controls Business of BLD Products

NEW YORK--April 27, 2011: Standard Motor Products, Inc., an automotive replacement parts manufacturer and distributor, announced today that it has acquired the Engine Controls business of BLD Products, Ltd., a subsidiary of Qualitor Inc., for approximately $27 million. BLD has plants in Holland, Michigan and Ocala, Florida, and manufactures a range of products including fuel pressure regulators, air by-pass valves, idle air control valves, and PCV valves.

Revenue of BLD's Engine Controls business was approximately $18 million in 2010, of which approximately 40% of the volume was sold to Standard, and the balance to others in the industry.

Mr. Lawrence I. Sills, Standard Motor Products' Chairman and Chief Executive Officer, stated, "We are very pleased to announce this acquisition. BLD has been a valuable and high quality supplier to us for many years, and we welcome them into our family. The products involved represent a growing part of our Engine Management product line, and we feel it is strategically important to be a basic low cost manufacturer in these areas.

"Over the course of the year, we will be relocating the Holland, Michigan plant to our facilities in Reynosa, Mexico and Independence, Kansas, while the smaller Ocala facility, which manufactures PCV valves, will remain in place.

"We believe the acquisition will be accretive to earnings in year one, excluding one-time integration costs."