Standard Motor Products, Inc. Announces Acquisition of Particulate Matter Sensor Business of Stoneridge, Inc.
Standard Motor Products, Inc. (SMP)
Last standard motor products, inc. earnings: 4/29 08:30 am
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smpcorp.com/en
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Source: PR Newswire
NEW YORK, March 8, 2021 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive replacement parts manufacturer and distributor, announced today that it has acquired certain assets and liabilities of the particulate matter sensor business of Stoneridge, Inc. Stoneridge's particulate matter sensor business has manufacturing lines in Lexington, OH, and Tallin, Estonia, and generates approximately $12-14 million in annual revenue. SMP will be relocating all production to existing SMP locations, and is not acquiring any of Stoneridge's locations or employees. It is expected that the business will be fully integrated within approximately 12 months.Mr. Eric Sills, Standard Motor Products' Chief Executive Officer and President, stated, "We are pleased to announce the acquisition of the particulate matter sensor product line from Stoneridge, Inc. This advanced emissions control technology is used in commercial vehicles, and is an excellent fit for our strategy of expan
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