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Bonded Motors Announces Management Changes

26 January 1999

Bonded Motors Announces Management Changes: Richard Funk Resigns as President, Aaron Landon to Assume Responsibilities, Bill Robinson in Charge of Manufacturing


    LOS ANGELES--Jan. 26, 1999--Aaron Landon, chairman of the board and chief executive officer of Bonded Motors Inc. Tuesday announced the resignation of Richard Funk as president of the company, effective Jan. 31.
    "Richard Funk is resigning for personal reasons," Landon said. "We appreciate his efforts over the past fifteen months, and are gratified to know that his expertise will still be available as a consultant to the company. Prior to joining us full time in November 1997, Richard was a consultant to the company for the prior four years.
    "I will be assuming some of the responsibilities that Mr. Funk fulfilled as president, and Bill Robinson, our executive vice president, will take over the daily manufacturing functions. Bill came to Bonded in October 1998, and has already made significant contributions to our management team. Mr. Robinson's years of demonstrated quality control and production expertise will strengthen our manufacturing operations in both Los Angeles and Macon, Ga."
    Bonded Motors is a remanufacturer of car and light truck engines with headquarters in Los Angeles, manufacturing facilities in California and Georgia, and Distribution Centers in California, Washington, Colorado, Ohio, New York and Georgia.
    The company's principal customers are automotive-parts chain stores, such as Pep Boys -- Manny, Moe and Jack , CSK Automotive (Checker, Schucks, Kragen) , Paccar Automotive (Grand's and Al's Auto Parts) and Genuine Parts/NAPA .


    Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: The statements in this release regarding management changes, future expectations and the expansion of the company's facilities and markets are forward-looking statements that include risks and uncertainties, included but not limited to product demand and development, technological advancements, impact of competitive products and pricing, growth in targeted markets, manufacturing capacity, risks of foreign operations, ability to integrate and leverage acquisitions, and other information detailed from time to time in the company's Securities and Exchange Commission filings.