ACQUISITION OF SELECTED ASSETS OF
New York, NY, January 17, 2002………Standard Motor Products, Inc. (NYSE:SMP), automotive replacement parts manufacturer and distributor, announces that it has completed the $4.8 Million acquisition of selected assets of Hartle Industries located in Grand Prairie, TX. Hartle Industries does business as CFA (parts distribution) and Chill Air of Texas (compressor remanufacturing).
This acquisition includes inventories and fixed assets of both Hartle businesses. The businesses will be consolidated into existing Standard Motor Products, Inc. locations.
This news release contains certain forward-looking statements that involve risks and uncertainties. Actual results, events and performance could differ materially from those contemplated by these forward looking statements. Among the factors that could cause actual results, events and performance to differ materially are risks and uncertainties discussed in this release and those detailed from time-to-time in prior public statements and the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K and the Company’s quarterly reports on Form 10-Q.
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