LOS ANGELES and TORONTO -- Motorcar Parts of America Inc. (MPA) said today it has been informed that Fenwick Automotive Products Limited has obtained a new senior secured credit facility with M&T Bank to replace the Toronto-based company's prior facility.

"This financing validates the strength of Fenwick Automotive's presence in the automotive aftermarket and paves the way for a new alliance with our organization," said Selwyn Joffe, chairman, president and CEO of Motorcar Parts.

In August, it was announced that MPA made a $1.9 million ($2 million CDN) strategic investment in Toronto-based Fenwick. The investment is structured as a secured loan with an option to acquire substantial ownership of the company.

Fenwick Automotive is a manufacturer and distributor of new and remanufactured aftermarket auto parts, including steering components (pumps, gears and racks), brake calipers, master cylinders, hub assembly and bearings, clutches and clutch hydraulics, constant velocity drive shafts, water pumps, control arms and loaded struts for the full range of passenger and truck vehicles in use in the markets it serves. Its products are sold through all major distribution channels of the automotive aftermarket throughout the United States, Canada and Mexico. The company's facilities are located in Pennsylvania, New Hampshire, Toronto and Mexico.

MPA is a remanufacturer of alternators and starters for 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 and Canada. The company's facilities are located in California, Tennessee, Mexico, Malaysia and Singapore.