Standard Motor Products, Inc. (NYSE: SMP) continues to be an industry leader by adapting to changing technologies, delivering top quality products and services, maintaining extraordinary customer focus, and continuing to invest in our future.
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SMP continues to expand its line of ABS Speed Sensors for import and domestic vehicles. It is widely known that the quality and performance of ABS sensors affect how long it takes a vehicle to stop, but with technology evolving, ABS sensors are being asked to do more. Many electronic safety features like Electronic Stability Control, Hill Hold Assist, and Automated Braking depend on accurate, real-time data from these sensors.
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SMP has introduced 110 new part numbers in its March new number announcement. Included in the release is new coverage for 56 product categories, and 29 part numbers for 2022 and 2023 model-year vehicles.
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SMP continues to expand its line of parts for hybrid and electric vehicles. The hybrid and electric vehicle market is growing larger every day, and SMP is committed to continually adding to its product offering for these vehicles, as well as expanding its powertrain-neutral coverage.
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SMP has introduced 276 new part numbers since the start of the year. Included in the release is new coverage for 77 product categories, and 43 part numbers for 2022 and 2023 model-year vehicles.
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SMP announced today that its Board of Directors has approved an increase in its quarterly common stock dividend from twenty-seven cents per share to twenty-nine cents per share, payable on March 1, 2023, to shareholders of record on February 15, 2023.
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SMP has announced changes in the composition of its Board of Directors effective at the end of their current terms in May of 2023.
Mr. Lawrence Sills stated, “We are very pleased to announce these changes which will result in a smooth and seamless succession. The new Board will be as strong as any I have experienced in my many years with the Company—young, diverse, energetic, and bringing a wide range of talent and experience.”
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SMP) has introduced 214 new part numbers in its December new number announcement. Included in the release is new coverage for 88 product categories, and 84 part numbers for 2021, 2022, and 2023 model-year vehicles.
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SMP reported today its consolidated financial results for the three and six months ended September 30, 2022.
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SMP will host a conference call, Wednesday, August 3, 2022, beginning at 10:30 a.m. (EST). Investors may also listen to the call by dialing 866-952-8559 (domestic) or 785-424-1877 (international).
Throughout 2022, SMP continued its commitment to the communities it operates within through its SMP Cares® initiative. SMP Cares® prioritizes the livelihood and well-being of communities, acting as a positive influence through volunteerism, community efforts, and philanthropy. SMP is proud to invest in local communities as a means to recognize and give back to those who help contribute to its success.
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On November 2, 2022, Eric Sills, president and chief executive officer at SMP, was awarded the 2022 AASA Member Advocacy Award at the AAPEX show in Las Vegas. The Automotive Aftermarket Suppliers Association (AASA) presents three of these awards annually, recognizing advocacy, diversity, equity, and inclusion.
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SMP continues to expand its comprehensive Collision Repair program. The collision market is large, growing, and extends well beyond body work and paint. Standard’s Collision Repair Program offers more than 7,500 parts to meet the demand. Every component is a direct-fit replacement and is designed to correctly integrate with the electronic safety systems found on today’s vehicles.
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SMP has introduced 365 new part numbers in its October new number announcement (NNA). Included in the release is new coverage for over 100 product categories, and 110 part numbers for 2021 and 2022 model-year vehicles.
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Standard Motor Products, Inc. (NYSE: SMP), a leading automotive parts manufacturer and distributor, announced today that it has acquired 100% of the capital stock of Kade Trading GmbH, headquartered in Glinde, Germany.
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SMP continues to add to its aftermarket-leading Ignition Coil program, which includes more than 800 Coils providing 99% coverage for import and domestic vehicles. Each Coil is designed to deliver improved durability and a longer service life. When the OE fails, technicians trust Standard® and Blue Streak® to deliver a Coil that will last.
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SMP continues to expand its aftermarket-leading Advanced Driver Assistance Systems (ADAS) program. ADAS in today’s vehicles is already helping to save lives and prevent injuries. Minimizing human error has been identified as a key factor in reducing the number of vehicle collisions resulting in serious injury and death. Standard® is dedicated to continuously adding new product categories and late-model applications to meet industry demand.
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SMP is pleased to announce the addition of 314 new part numbers in its August new number announcement. This release covers over 100 product categories and includes over 100 part numbers for 2021 and 2022 model-year vehicles.
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SMP is proud to announce that it has been recognized as a Gold Lifetime Trustee by the University of the Aftermarket Foundation. The award recognizes SMP’s longtime support of this important foundation. SMP provides scholarships through the foundation annually.
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SMP is pleased to announce it is the recipient of Waytek’s 2021 Product of the Year Award for its Trombetta CAN Bus Power Splitters and Control Modules.
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SMP reported today its consolidated financial results for the three and six months ended June 30, 2022.
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SMP will host a conference call, Wednesday, August 3, 2022, beginning at 10:30 a.m. (EST). Investors may also listen to the call by dialing 866-952-8559 (domestic) or 785-424-1877 (international).
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SMP is pleased to announce the recipients of its 2022 scholarships: The Blue Streak® ‘Better Then, Better Now’ Scholarship and the SMP ‘Women in Auto Care’ Scholarship. Four students pursuing educations in automotive technology and repair are awarded scholarships to apply toward their education at an automotive technical school or college.
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SMP has released a total 832 new part numbers during the first half of 2022 for its Standard® and Standard® Import brands. SMP continues to help distribution partners capture additional business, as 286 of these numbers were aftermarket exclusives, meaning they were not available in the aftermarket before SMP’s release. To date this year, SMP has released parts covering 180 different categories and over 200 part numbers for 2021 and 2022 model-year vehicles.
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SMP continues to expand its aftermarket-leading Gasoline Direct Injection (GDI) program. GDI technology has been an integral part of helping to improve fuel economy while reducing emissions, and can be found on more than half of the U.S. fleet. In fact, the use of GDI engines has grown by over 600% since 2010.
SMP is pleased to announce the addition of 119 new part numbers to its Standard® and Standard® Import lines. This release covers 53 product categories and includes 44 part numbers for 2021 and 2022 model-year vehicles.
SMP is saddened to announce the passing of a member of our Board of Directors and former President and Chief Operating Officer, John P. Gethin. John died peacefully at the age of 74 on Monday, June 27, 2022, at his home in San Diego, CA.
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AutoZone held its annual Vendor Partner Summit on Tuesday, June 7, 2022. During the Vendor Awards banquet, Standard Motor Products receiving the 2022 Extra Miler award for Excellence in Supply Chain.
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SMP announces the expansion of its Blue Streak® line. SMP’s latest Blue Streak® product release includes 23 new part numbers in the Direct Ignition and Variable Valve Timing categories.
SMP is pleased to announce it is the recipient of the 2021 Spirit of NAPA® trophy, presented at NAPA® Auto Parts’ Vendor Summit and Supplier Awards Banquet on May 25, 2022.
SMP announced today it has entered into a new five-year $500 million credit facility, with JPMorgan Chase Bank, N.A., as agent, and a syndicate of lenders, which includes a $100 million term loan and $400 million revolving credit facility. In addition, SMP entered into an interest rate swap agreement to fix the interest rate on $100 million of borrowings under the New Credit Facility.
SMP announces the addition of 146 new part numbers to its Standard®, Blue Streak®, and Standard Import® lines. SMP’s new part number release for May 2022 spans 55 different product categories and includes 38 part numbers for 2021 and 2022 model year vehicles.
SMP reported today its consolidated financial results for the three months ended March 31, 2022.
We are very excited to announce the publication of our 2021 Corporate Social Responsibility and Sustainability Report, available at the link below. In this report, we describe some of the specific ways that we pursue the environmental and socially responsible business practices and corporate governance practices that are at the heart of our culture and what we believe it means to be a good corporate citizen.
SMP announced today that Alejandro Cesar Capparelli has been appointed as an independent director to the Company’s Board of Directors. Mr. Capparelli will serve as a member of the Audit Committee, Compensation and Management Development Committee, Nominating and Corporate Governance Committee, and Strategic Planning Committee.
SMP announced today that Pamela Puryear, Ph.D., has been appointed as an independent director to the Company’s Board of Directors. Dr. Puryear will serve as a member of the Audit Committee, Compensation and Management Development Committee, Nominating and Corporate Governance Committee, and Strategic Planning Committee.
SMP announced today that Anthony Cristello has been named the Vice President of Investor Relations for the Company. Mr. Cristello will be responsible for the planning and management of the Company’s global investor relations and corporate communications activities.
Eric Sills, President and CEO of Standard Motor Products and incoming Board Chairman of AASA, spoke before the U.S. House of Representatives Committee on Energy & Commerce Subcommittee on Consumer Protection & Commerce. Sills was one of only four to testify on supply chain resilience and American competitiveness.
Standard Motor Products recently acquired 100% of the capital stock of Stabil Operative Group GmbH. Stabil is a manufacturer and distributor of a variety of components, including electronic sensors, control units, and clamping devices to the European OE market, servicing both commercial and light vehicle applications.
Standard Motor Products, Inc. (NYSE: SMP), reported its consolidated financial results for the three months and nine months ended September 30, 2021.
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SMP announces the launch of its SMP Cares website, a new site dedicated to highlighting the company’s efforts supporting local communities through service, volunteerism and donations. This website will serve as a resource for news and upcoming events.
Standard Motor Products recently acquired the assets of MK Company Ltd., a plastic injection molder in London, Ontario. MK Company will now be known as Unimotor Plastics Department.
SMP announced today that Nathan Iles has been named the Chief Financial Officer of the Company. As previously announced, Jim Burke, who served as CFO since 1999, has been promoted to Chief Operating Officer and will assist in the transition of CFO duties to Mr. Iles.
Standard Motor Products announced today that it is celebrating its 100-year anniversary. Over the years, SMP has grown by leaps and bounds from the company that Elias Fife founded in 1919. Standard Motor Products now employs approximately 4,400 people, generates over a billion dollars in net sales, operates in more than 25 facilities around the world, and is a leading independent manufacturer and distributor of replacement parts in the automotive aftermarket.
Standard Motor Products announced today that it has acquired certain assets and liabilities of the Pollak business of Stoneridge, Inc. for approximately $40 million, subject to post-closing adjustments. Stoneridge’s Pollak business has manufacturing and distribution facilities in Canton, MA, El Paso, TX, and Juarez, Mexico, and distributes a range of engine management products including sensors, switches, and connectors.
Standard Motor Products announced that James J. Burke has been named the Chief Operating Officer of the Company. Mr. Burke is currently the Company’s Executive Vice President Finance and Chief Financial Officer. He has been with the Company since 1986, and has 40 years’ experience in the automotive aftermarket.