Motorcar Parts of America (MPA) has entered into a $125 million credit facility with PNC Bank National Association, consisting of a $100 million revolver and $25 million term loan.
According to MPA Chairman, President and CEO Selwyn Joffe, the new facility will result in reduced interest expense and provides financial flexibility to execute the company’s strategic growth plans.
Lumileds has expanded the Philips Ultinon Drive 5000 series to include eight models.
Lumileds has expanded the Philips Ultinon Drive 5000 series of LED lightbars to include eight models. The series now includes 10,” 20,” and 30” lightbars available in single- and double-row versions, and 40,” and 50” lightbars available in double-row configurations.
All have been built for off-road use, with scratch-resistant polycarbonate lenses, DT waterproof electrical connections, and corrosion-free, stainless steel mounting brackets, Lumileds said. Ultinon Drive LED Lightbars are engineered with single-piece assemblies that allow them to achieve an IP68 / IP69K rating for resistance to high pressure water and dust and an IK07 rating for resistance to impacts.
Twenty-two new import part numbers, as well as 39 new pulley and tensioner part numbers, are immediately available.
The product lineup was created to service and maintain both R-134a and R-1234yf automotive A/C systems, according to B’laster Holdings.
Seventy new parts have been added to the INA, LuK and Schaeffler Bearings portfolios in the first quarter of 2024.
The new products cover more than 1,994,760 applications and model years 2016-2024.
Consolidated revenue totaled 7,144.7 billion yen (US$47.2 billion), a 11.6 percent increase from the previous year.
The company reported record net sales of $789 million.
U.S. GAAP net sales were $863 million, an increase of 3.4% compared with Q1 2023, according to PHINIA.
Bendix said it is transforming its distribution center into a state-of-the-art facility and consolidating dampers manufacturing into a single, larger space.
