SMP Announces Acquisition of the Forecast Trading Corporation.
In October 2011, Standard Motor Products announced the acquisition of Forecast Trading Corporation. The acquisition of Forecast’s operations was highly complementary to SMP’s industry leading manufacturing. The move has further enhanced SMP’s position in the automotive aftermarket by adding Forecast’s expertise in value-priced engine management products to SMP’s premium-quality product lines. This synergy will allow SMP to support our customers more effectively in the low-cost market segments.
Larry Sills, Standard Motor Products’ Chairman and Chief Executive Officer, stated, “Forecast has been a successful supplier of value-priced engine management products for 30 years. This segment of the industry is growing, as the vehicle population continues to age and the economic climate remains difficult. Forecast’s expertise in sourcing these products from low cost areas will enable us to compete effectively in this area. By combining Forecast’s value line with our top quality line, we will be able to offer an extremely strong combination to our customers.”
Forecast currently has distribution facilities in Ft. Lauderdale, Florida, and markets a wide range of engine management products including ignition coils, ignition modules, switches and sensors, and filters.