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Article: Standard Motor Products
- Article from:
- PR Newswire
- Article date:
- May 22, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, May 22 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), announced today that it intends to divest its Service Line Division, assuming an appropriate sales price is achieved. The Service Line Division, which includes the Champ Service Line, APS Service Line and Pik-A- Nut, is a supplier to the automotive aftermarket of accessories, general service parts, specialty tools, maintenance items and fasteners. This Division's revenues were approximately $43,000,000 in 1996.
Lawrence I. Sills, Chairman and Chief Executive Officer of Standard Motor, said: "The Company has determined that the Service Line Division, which packages and resells a ...