Dorman Products, Inc. to Acquire Certain Assets of the Consumer Products Division of Rockford Products Corporation
COLMAR, PA--(Marketwire - September 5, 2007) - Dorman Products, Inc. (NASDAQ: DORM) announced
today that it has signed an agreement to acquire certain assets of the
Consumer Products Division of Rockford Products Corporation ("Consumer
Division"). Headquartered in Rockford, Illinois, the Consumer Division
packages and distributes standard fasteners to customers in the farm and
automotive aftermarkets. The purchase price is expected to be
approximately $3.5 million dollars subject to pre-closing and post-closing
adjustments as required by the agreement. The transaction is expected to
close on or about September 7, 2007.
Mr. Richard Berman, Chairman, President and Chief Executive Officer said,
"We are very excited about this opportunity to strengthen our leadership
position in the fastener market with the addition of the Consumer Division.
The business will be transitioned into our Warsaw, Kentucky facility over
the next three months."
Dorman Products, Inc. is a leading supplier of OE Dealer Exclusive
automotive replacement parts, automotive hardware, brake products, and
household hardware to the Automotive Aftermarket and Mass Merchandise
markets. Dorman automotive parts and hardware are marketed under the OE
Solutions™, HELP!®, AutoGrade™, Second Stop™, Conduct-Tite®,
Pik-A-Nut® and Scan-Tech® brand names.
Forward-looking statements in this release are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
those projected. Readers are cautioned not to place undue reliance on
these forward-looking statements which speak only as of the date hereof.
Factors that could cause actual results to differ materially include, but
are not limited to, those factors discussed in the Company's 2006 Annual
Report on Form 10-K under "Item 1A -- Risk Factors."
Contact Information: Contact:
Corporate Headquarters:
Dorman Products, Inc.
3400 East Walnut Street
Colmar, Pennsylvania 18915
Fax: (215) 997-8577
For Further Information Contact:
Mathias J. Barton
CFO
(215) 997-1800 x 5132
Visit our Home Page:
www.dormanproducts.com