Prestolite Electric Acquires Rights To Three Heavy Duty Alternator Designs
21 December 1998
Prestolite Electric Acquires Rights To Three Heavy Duty Alternator Designs
ANN ARBOR, Mich.--Dec. 21, 1998--Prestolite Electric Incorporated announced today that it has acquired rights to three heavy duty alternator designs from Dixie Electric of Toronto, Canada. Prestolite also acquired certain inventory and fixed assets plus the right to use vendor tooling related to these designs."These three products nicely complement our existing family of alternators and will enhance our ability to serve our customers," said Kim Packard, president and chief executive officer of Prestolite. "Dixie Electric is one of the premier companies serving the vehicle parts aftermarket, and we look forward to developing a closer relationship with them," he added.
The three designs acquired are a 5.75-inch diameter brush-type alternator, a 5.75-inch diameter brushless alternator and a 180-millimeter diameter brushless alternator. The alternators will be manufactured at Prestolite's facility in Arcade, New York.
Dixie Electric Ltd., headquartered in Toronto, Canada is an international manufacturer of high quality starter motors and alternators for automotive, agricultural, industrial, construction and marine engines.
Prestolite Electric Incorporated manufactures alternators, starter motors, direct current motors, battery chargers and switching devices. These are supplied under the Prestolite, Leece-Neville and Butec brand names for original equipment and aftermarket application on a variety of vehicles and industrial equipment. The company has headquarters in Ann Arbor, Michigan and facilities throughout the world.
This release contains forward-looking statements regarding the anticipated results of Prestolite Electric Incorporated. Prestolite undertakes no obligation to publicly release any revisions to any forward-looking statements to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events. The Company's actual results may differ materially from those projected in forward-looking statements made by, or on behalf of, the Company.