Cardone Acquires Remy Automotive Europe

Cardone Industries has entered into a definitive agreement effective June 2, 2008 with Remy Automotive Europe to acquire three plants in the UK.
These facilities remanufacture ignition distributors, brake calipers, steering racks and pumps and manufacture ignition leads a product group referred to within Remy as Multiline. Agreement has also been reached on a long-term supply agreement through which Cardone will supply Remy with its demands for these Multiline products.