Spectra Premium Industries Inc. has entered into a binding purchase agreement for all assets of Richporter Technology Ltd - KOAM TV 7

Spectra Premium Industries Inc. has entered into a binding purchase agreement for all assets of Richporter Technology Ltd

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SOURCE Spectra Premium Industries Inc.

BOUCHERVILLE, QC, May 9, 2014 /PRNewswire/ - Spectra Premium Industries Inc. is pleased to announce that it has entered into a binding purchase agreement for all assets of Richporter Technology Ltd. The acquisition is set to close around May 16, 2014.

(Photo: http://photos.prnewswire.com/prnh/20140509/86195)

"Spectra Premium welcomes the Richporter Technology group and looks forward to incorporating its global manufacturing network of high quality engine management products to our already extensive product line up", states Jacques Mombleau, President and CEO of Spectra Premium. "We will continue to pursue the aftermarket entrepreneurial spirit and product development strategy of Richporter Technology that was led by its CEO Mr. Patrick Richardson."

"A key component of our growth strategy is to expand our business model into complete vehicle repair solutions. Coupling the existing fuel and cooling system categories with these new engine management products, allows us to grow sales opportunities for our partners in the Global Automotive Market", stated Jason Best, Vice President Aftermarket Sales and Marketing, Spectra Premium. "We are pleased to announce that leading our engine management team as Vice President Operations will be Martin Brazeau of Richporter Technology who will be headquartered in the new offices of Spectra Premium located in Taiwan."

Founded 25 years ago, Spectra Premium is a manufacturer, developer and provider of premium automotive components and systems that are the choice of OE manufacturers, automotive technicians and do it yourself consumers. With its 1,100 employees, Spectra Premium provides unmatched customer service and after the sale support via a global manufacturing and distribution network.

Founded by Keith and Patrick Richardson along with Lawrence Hung, Richporter Technology was founded in 2001 based in Montreal, Quebec, Canada with distribution handled from Champlain, New York and manufacturing presence in Kaohsiung, Taiwan. Richporter Technology develops, manufactures and distributes engine management and ignition products for the automotive aftermarket industry. Today they offer a full line of Mass Air Flow Sensors (MAFS), Coils, Distributors, Synchronizers and Cam & Crank Sensors, with more new products coming soon.

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