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Prestolite Electric Incorporated Acquires Remanufacturing Business

15 January 1999

Prestolite Electric Incorporated Acquires Remanufacturing Business

    ANN ARBOR, Mich.--Jan. 14, 1999--Prestolite Electric Incorporated announced today that it has acquired the rebuilding operations of Roberts Generator & Co., Inc. and Robco Manufacturing Corporation. The acquired business, located in Saddle Brook, New Jersey, will continue to be managed by Robert DeBello who founded it in 1964. Terms of the acquisition were not disclosed.
    "This acquisition expands Prestolite's expertise and capacity in the remanufacturing of alternators and starter motors," said Kim Packard, president and chief executive officer of Prestolite. "We look forward to growing this highly-successful rebuilding business which has developed a strong position serving the electrical system needs of pick-up-and-delivery fleets. The addition of this business complements and extends Prestolite's market reach. We are also happy to add the knowledge and experience of Bob DeBello to the Prestolite team."
    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.