Delco Remy International Acquires Majority Interest in M&M Knopf
13 March 2000
Delco Remy International Acquires Majority Interest in M&M Knopf
ANDERSON, Ind., March 13 Delco Remy International, Inc.,
has acquired a majority interest in M&M Knopf, Piscataway, New
Jersey. M&M Knopf is the world's largest company in automotive component
recovery and exchange. Knopf operates 12 warehouses in the U. S. and recently
opened a branch office in France. They process more than 10,000,000 recovered
automotive repair components annually, commonly known as "cores".
"This is important to the Delco Remy and the customer remanufacturing
value chain," said Joseph P. Felicelli, group vice president, Aftermarket,
Delco Remy International. "M&M Knopf carries 44 product lines and catalogues
more than 25,000 part numbers. They will not only improve our ability to
acquire cores for our remanufacturing operations, but will expand the supply
of product and core management services to the entire industry. M&M Knopf is
particularly active in undercarriage, air-conditioning, and electronics."
Max and Sonia Knopf founded the Knopf company in 1950. This company will
operate as part of the Delco Remy Aftermarket Group with H. Woody Knopf as
Chairman and CEO and Marshall Knopf as President.
"The automotive industry is becoming more involved in the entire life
cycle of the car. We have been a leader in the recovery, supply and exchange
of high-value components from salvage vehicles," said H. Woody Knopf, Chairman
and CEO. "The environmental and global regulations are changing the rules of
the game. We expect to be right in the middle of the supply and exchange of
those products."
H. Woody Knopf joined the company in 1979. He and his wife Claire have
been married for 15 years and have three children -- Catherine, Elizabeth and
James. Knopf received a master's degree in Economics from Fordham University
in 1973. The Knopf's reside in Rumson, New Jersey.
Marshall Knopf joined the company in 1977. He has been married for 20
years to Janice. They have four children -- Emily, Jennifer, Laura and Max.
He received his bachelor's degree in Special Education from the State
University at Buffalo. He resides in Red Bank, New Jersey. He has been
active in the automotive components business since 1977.
Delco Remy International, Inc., headquartered in Anderson, Indiana (USA),
became a public company with an initial public offering of stock in December
1997. The company designs, manufactures, remanufactures and distributes
electrical, powertrain/drivetrain and related components for automobiles and
light trucks, medium- and heavy-duty trucks and other industrial applications.
Products include starter motors, alternators, engines, transmissions, torque
converters, fuel systems, and traction control systems. The Company serves
the aftermarket and original equipment manufacturer market principally in
North America, as well as in Europe, Latin America and Asia Pacific. DRI can
be found on the Internet at http://www.delcoremy.com
Statements in this press announcement, which are not historical facts, are
forward-looking statements that involve certain risks and uncertainties
including, but not limited to risks associated with the uncertainty of future
financial results, acquisition, additional financing requirements, development
of new products and services, the effect of competitive products or pricing,
the effect of economic conditions and other uncertainties detailed in the
Company's filings with the Securities and Exchange Commission.