Motorcar Parts Featured on CNBC's Power Lunch
Motorcar Parts Featured on CNBC's Power Lunch
LOS ANGELES, Oct. 26 /PRNewswire-FirstCall/ -- Motorcar Parts of America, Inc. ("MPA") , a leading provider of remanufactured alternators and starters for the automotive aftermarket, was featured in the Tuesday edition of the daily CNBC Power Lunch show.
In the three minute segment, CNBC Special Features correspondent Mike Hegedus recapitulated MPAA's 40 year corporate history, highlighting the Company's impressive improvements in efficiency through the adoption of "lean" manufacturing, which allowed it to dispense with the traditional assembly line and dramatically cut turnaround time.
The segment highlighted Selwyn Joffe's unique career path from a top executive in the entertainment and food industries to his present position as CEO, President and Chairman of MPA. According to Joffe, his "fresh set of eyes" has helped strengthen the Company's business model and position MPA as a key player in its $1.5 billion industry.
Power Lunch is a daily business show viewed by millions of business executives nationwide. Anchors Bill Griffeth and Sue Herera take an up-close and personal look at the companies, people and hot trends driving the markets and influencing Wall Street across a variety of industries.
A replay of the show will be available at the investor relations section of MPA's website at www.motorcarparts.com.
About MPA
Motorcar Parts of America, Inc. is a leading manufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. MPA has facilities in the United States in Torrance, California, Nashville, Tennessee, and Charlotte, North Carolina, as well as overseas in Mexico, Singapore and Malaysia. The Company websites are located at www.motorcarparts.com and www.quality-built.com.
Disclosure Regarding Private Securities Litigation Reform Act of 1995:
This press release contains certain forward-looking statements with respect to our future performance that involve risks and uncertainties. Various factors could cause actual results to differ materially from those projected in such statements. These factors include, but are not limited to: concentration of sales to certain customers, changes in our relationship with any of our customers, including the increasing customer pressure for lower prices and more favorable payment and other terms, potential future changes in our accounting policies that may be made as the SEC's review of our previously filed public reports proceeds, our failure to meet the financial covenants or the other obligations set forth in our bank credit agreement and the bank's refusal to waive any such defaults, increases in interest rates, changes in the financial condition of any of our major customers, the potential for changes in consumer spending, consumer preferences and general economic conditions, increased competition in the automotive parts industry, unforeseen increases in operating costs and other factors discussed herein and in our filings with the Securities and Exchange Commission.
Source: Motorcar Parts of America, Inc.
CONTACT: Crocker Coulson, President of CCG Investor Relations,
+1-310-231-8600, ext. 103, crocker.coulson@ccgir.com, for Motorcar Parts of
America, Inc.; or Selwyn Joffe, Chairman & CEO of Motorcar Parts of America,
Inc., +1-310-972-4005
Web site: http://www.motorcarparts.com/
http://www.quality-built.com/
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