Remy International Named to NASDAQ Global Select Market
PENDLETON, IN--Dec. 17, 2013: Remy International, Inc. , a leading worldwide manufacturer, remanufacturer, and distributor of starters and alternators for light vehicle and commercial vehicle applications, locomotive products and hybrid electric motors, announced yesterday that effective today, Tuesday, December 17, 2013, listing of the company's common stock will be transferred to the NASDAQ Global Select Market, the highest of the three market tiers at NASDAQ. Listing on the NASDAQ Global Select Market is reserved for companies that meet the highest quantitative and qualitative listing standards, reflecting their demonstrated commitments to leadership and good governance.
"We are pleased to be recognized by NASDAQ for our established record of sound management and that Remy has joined the top tier of the NASDAQ Stock Market. We remain focused on building long-term value for shareholders," said Jay Pittas, Remy's President and Chief Executive Officer.
Fred Knechtel, Remy's Chief Financial Officer added, "We are honored to be added to NASDAQ's Select Market, joining some of the most respected companies in the world who also uphold NASDAQ's rigorous qualification standards and fiscal responsibility."
NASDAQ-listed companies are classified under three listing tiers: NASDAQ Global Select Market, NASDAQ Global Market, and NASDAQ Capital Market. Remy common shares previously traded on the NASDAQ Capital Market and, following transfer to the NASDAQ Global Select Market, will continue to trade under the ticker symbol REMY.