Bonded Motors Announces Resignation of Operations Chief

24 February 1999

Bonded Motors Announces Resignation of Operations Chief

    LOS ANGELES--Feb. 24, 1999--Aaron Landon, chairman of the board and chief executive officer of Bonded Motors Inc. Wednesday announced the resignation of Director and Chief Operating Officer Buddy Mercer. Mercer is leaving to pursue other business opportunities.
    Following Mercer's departure, day-to-day manufacturing will be supervised by Bill Robinson, who was hired in the fourth quarter to effect the company's cost reduction and quality improvement programs. Seth Landon has been promoted to VP of Sales and Marketing and will assume those duties.
    Mercer commented: "I have been with Bonded Motors since 1982. During this time, I have helped guide the company through some extraordinary changes, and I leave behind many talented associates."
    Aaron Landon concluded: "We appreciate Buddy's efforts during the past 17+ years and wish him success in his future business ventures. Buddy was instrumental in bringing the company from a regional supplier to a national presence."
    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 (Checkers, Schucks, Kragens) ; 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, planned cost-reduction programs, business conditions of the automotive aftermarket for remanufactured engines and the expansion of the company's products, facilities and markets are forward-looking statements that include risks and uncertainties, including, 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.