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Slide #12. Genuine Parts Company — Tekra Corporation and AST Bearings LLC
Genuine Parts Company (NYSE:GPC)
Tekra Corporation and AST Bearings LLC
Effective October 31, 2013, the Company's Electrical Group, EIS, Inc. ("EIS"), closed on the acquisition of the assets of Tekra Corporation ("Tekra"). Tekra, headquartered in New Berlin, Wisconsin, is a leading independent coater, converter and distributor of specialty films and adhesives, which complements the fabrication capabilities at EIS. The Company expects the acquired business to generate annual revenues of approximately $75 million. The Company's Industrial Group, Motion Industries ("Motion"), acquired the stock of AST Bearings LLC ("AST"), effective October 26, 2013. AST is a value-added supplier of high precision bearings and related products, with two locations in Montville, New Jersey and Irvine, California. The Company expects the acquired business to generate annual revenues of approximately $35 million.
Genuine Parts is engaged in the distribution of automotive and industrial replacement parts. Co.'s segments are: Automotive Parts Group, which distributes automotive parts and accessory items and provides inventory, cataloging, marketing, training and other programs to the automotive aftermarket; and Industrial Parts Group, which distributes industrial replacement parts and related supplies such as bearings, mechanical and electrical power transmission products, industrial automation and robotics, hose, hydraulic and pneumatic components, industrial and safety supplies and material handling products to maintenance, repair and operation and original equipment manufacturer customers.
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Hold (2.14 out of 4)