Motorcar Parts of America acquires turbocharger remanufacturer ZOR Industries
- August 09, 2016
Motorcar Parts of America, Inc announced on 8 August that it’s expanding its product line with the introduction of in-house developed brake power boosters and turbochargers through a recently completed acquisition of Winchester, Virginia-based ZOR Industries. ZOR Industries is a remanufacturer of automotive, heavy duty truck, agricultural and industrial turbochargers.
"The acquisition of ZOR Industries provides Motorcar Parts of America with a small customer base and most importantly the technology, people and processes to address a rapidly emerging automotive category," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.
According to Motorcar Parts of America, industry sources estimate the aftermarket size today for the turbocharger segment at the retail level in United States at more than $500 million. Industry observers note improved fuel economy, enhanced engine performance and a focus on automotive weight reduction support the utilization of turbocharger technology, which is now accelerating. It is expected aftermarket replacement rates will increase as vehicles with turbochargers age.
"The launch of brake power boosters follows a similar strategic approach to our previous product line introductions – namely working with an existing customer that is committed to our program and supportive of the wide-range of value-added services that enhance the product category. We look forward to the commencement of brake power booster sales in mid-August, following several months of development activities to support a successful launch," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc.
For the brake power booster category, the size in the United States is estimated at approximately $350 million at the retail level, with continued growth reflecting its importance to safety systems such as anti-lock brakes and advanced driver assistance technology.
About Motorcar Parts of America
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer and distributor of automotive aftermarket parts -- including alternators, starters, wheel hub assembly, brake master cylinders, brake power boosters and turbochargers utilized in imported and domestic passenger vehicles, light trucks and heavy duty applications. Additional information is available at www.motorcarparts.com.