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News of  February 21, 2001

Delco Remy acquires XL in the UK

Anderson, Indiana - Delco Remy International, Inc., announced that it has acquired the business and assets from the UK based automotive remanufacturer, XL Component Distribution Ltd. (XL), a member of the Finelist Group in administrative receivership.

Founded 15 years ago, with headquarters in Droitwich, Worcestershire, XL has built a strong brand image and reputation for quality, range, technical expertise and testing capability of its remanufacturing operations. The XL operation includes four separate manufacturing locations in the UK, with an experienced workforce of 300.

XL specialises in the remanufacturing, packaging and distribution of steering racks, brake callipers, ignition distributors, ignition leads, transmission components and rotating electrics. The products are distributed under the XL brand, with the exception of rotating electrics, which are branded under the Autostart name.

The acquisition of XL expands the DRI aftermarket product portfolio, providing a presence in new sectors of the growing remanufacturing market with well-established routes to market.

The Delco Remy Europe Managing Director, Patrick C. Mobouck, said, "We are excited about the new opportunities offered by extending our product portfolio in the automotive remanufacturing markets. This acquisition strategically positions us to be the leading remanufacturer of automotive components in Europe."

Delco Remy International, Inc., headquartered in Anderson, Indiana (USA), became a public company with an initial stock offering in 1997.  The Delco Remy brand has been a leader in automotive products for decades. Today the company designs, manufactures, remanufactures and distributes electrical, powertrain/drivetrain and related components and core exchange service for automobiles and light trucks, medium- and heavy-duty trucks and other heavy-duty off-road and 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 Europe, Latin America and Asia Pacific.

(Feb. 12, 2001)

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