Standard Motor Products, Inc. Announces Acquisition of Particulate Matter Sensor Business of Stoneridge, Inc.

NEW YORK, March 8, 2021 /PRNewswire/ -- Standard Motor Products, Inc. (NYSE: SMP), a leading automotive replacement parts manufacturer and distributor, announced today that it has acquired certain assets and liabilities of the particulate matter sensor business of Stoneridge, Inc. Stoneridge's particulate matter sensor business has manufacturing lines in Lexington, OH, and Tallin, Estonia, and generates approximately $12-14 million in annual revenue. 

SMP will be relocating all production to existing SMP locations, and is not acquiring any of Stoneridge's locations or employees. It is expected that the business will be fully integrated within approximately 12 months.

Mr. Eric Sills, Standard Motor Products' Chief Executive Officer and President, stated, "We are pleased to announce the acquisition of the particulate matter sensor product line from Stoneridge, Inc. This advanced emissions control technology is used in commercial vehicles, and is an excellent fit for our strategy of expansion into the original equipment heavy duty market. "

Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Standard Motor Products cautions investors that any forward-looking statements made by the company, including those that may be made in this press release, are based on management's expectations at the time they are made, but they are subject to risks and uncertainties that may cause actual results, events or performance to differ materially from those contemplated by such forward-looking statements. Among the factors that could cause actual results, events or performance to differ materially from those risks and uncertainties discussed in this press release are those detailed from time-to-time in prior press releases and in the company's filings with the Securities and Exchange Commission, including the company's annual report on Form 10-K and quarterly reports on Form 10-Q.  By making these forward-looking statements, Standard Motor Products undertakes no obligation or intention to update these statements after the date of this release.

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SOURCE Standard Motor Products, Inc.