Motorcar Parts of America's Brake-Related Program Continues to Gain Traction; Appoints Industry Veteran to Brakes Team
Motorcar Parts of America, Inc. (NASDAQ:MPAA) today announced continued success in the strategic evolution of the company's emerging brake-related product offerings.
To further enhance its strategic growth initiatives, the company announced the appointment of Dan Lelchuk as a director of business development for brake products. He will be focused on supporting and enhancing the company's brake caliper, brake pad and brake rotor product offerings. An industry veteran, Lelchuk's career includes serving as president, chief executive officer and co-founder of Centric Parts. Earlier in his career, he held a variety of brake-related executive sales and marketing positions for leading global automotive organizations.
"Dan Lelchuk's background complements the company's focus and commitment to further accelerating its brake-related product sales momentum. We look forward to benefiting from Dan's industry knowledge and experience, and to achieving continued success," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.
"Our reputation as a high-quality supplier of non-discretionary aftermarket parts, coupled with capacity to meet increasing customer demand, distinguishes our company. We expect to further leverage our industry position and our customer relationships to gain share across multiple product offerings, supported by an industry-leading team and exceptional value-added service," Joffe added.
"I recently had the opportunity to tour the company's state-of-the art caliper operation and distribution facility in Mexico. The facilities are amazing in scope and capabilities. Our Quality-Built brake offerings provide a compelling differentiation for customers to provide top-quality brake maintenance and repair parts. I am thrilled to join this exceptional team of professionals," Lelchuk said.
About Motorcar Parts of America
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company's electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company's current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company's Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2023 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
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