Motorcar Parts of America Makes Florida Acquisition

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Motorcar Parts of America Inc. said on Thursday that it has completed the acquisition of the new and remanufactured alternators and starters operation of Suncoast Automotive Products Inc. for an undisclosed amount.

Los Angeles-based Motorcar Parts itself remanufactures alternators and starters for cars and trucks. Suncoast Automotive is a privately held company based in Pompano Beach, Fla.

“This transaction continues our acquisition strategy and enhances the company’s market share in North America through Suncoast’s existing business relationships in the professional installer segment,” said Chief Executive Selwyn Joffe in a statement.

Motorcar Parts said it expects additional net sales of at least $4 million from the acquisition. The company earlier this month reported that it had improved gross margins in its fiscal first quarter through efficiencies, and net income was up more than 90 percent to $3 million even as sales had slowed.

In contrast, a major Van Nuys-based supplier of aluminum wheels to the Big Three automakers, Superior Industries International Inc. has seen its revenues and profits falter on slower sales of new trucks and SUVs. The company recently announced it was closing a Kansas plant and reducing its employee head count by nearly a third.

Separately, Motorcar Parts said its credit facility with Union Bank of California has been increased by $5 million to $40 million, which will be available for acquisitions and general corporate purposes.

Motorcar Parts shares were up 2 cents, less than 1 percent, to $6.37 in morning trading on the Nasdaq.

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