AIM to Sell Reman Operations

Automotive Importing Manufacturing, Inc. (AIM), announced today it has signed a definitive agreement with Motorcar Parts of America, Inc. to sell it’s remanufacturing operations.
The transaction, subject to various conditions and approvals, is expected to close by May 16, 2008.
“I am pleased to announce this agreement,” said AIM President and CEO, Steve Seabourne.
“We know that Motorcar Parts of America will continue our tradition of excellence in customer service.
“The Seabourne family is also pleased to announce that it will retain the AIM Parts brand and continue to sell components and finished units to the company’s loyal rebuilder customers.”
“This acquisition will add to our customer base and provide product line expansion, including the addition of heavy duty truck business.
“We anticipate a seamless integration once the transaction is completed, with a commitment to enhanced customer service and synergies,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.