Standard Motor Products, Inc. announces the hire of Jack Ramsey as its new Vice President of Engine Management Marketing and Sales.
SMP reported its consolidated financial results for the three months ending March 31, 2019.
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.
SMP reported its consolidated financial results for the three months and for the year ended December 31, 2018.
Standard Motor Products, Inc. announced today that its Board of Directors has approved an increase in its quarterly common stock dividend from twenty-one cents per share to twenty-three cents per share, payable on March 1, 2019, to stockholders of record on February 15, 2019.
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.
Standard Motor Products, Inc. announces that its Board of Directors has authorized the purchase of up to $20 million of its common stock under a stock repurchase program.
In 2017, SMP set records for both sales and earnings for the second year in a row. Looking ahead, the industry continues to experience steady growth, based on an increase in the total number of vehicles, an increase in the age of the fleet, and an increase in total miles driven.
Standard Motor Products announces the expansion of its Blue Streak program. In addition to legacy Blue Streak products such as points, condensers, caps, and rotors, the new expanded program features heavier-duty ignition coils that are engineered and manufactured at SMP's TS16949-certified facility in Bialystok, Poland.
Standard Motor Products, Inc. announces the expansion of its line of Advanced Driver Assistance System (ADAS) components. The expansion of 36 ADAS components includes 18 Blind Spot Detection Sensors, 13 Cruise Control Distance Sensors, and 5 Lane Departure System Cameras.