|PRESS RELEASE||Media Contact:|
|For Immediate Release||Eisbrenner PR|
Zhongshan Broad-Ocean Motor Co., Ltd. acquires Prestolite Electric, LLC
April 16, 2015, Plymouth, Mich.¬– Prestolite Electric, LLC is pleased to announce that Zhongshan Broad-Ocean Motor Co., Ltd. (Broad-Ocean Motor) completed its acquisition of Prestolite Electric, LLC and its subsidiaries on April 7, 2015. Terms of the deal were not disclosed.
This acquisition closely aligns the synergies of Broad-Ocean Motor and Prestolite Electric, resulting in world-class products and services to our global and regional customers. Prestolite’s full range of products now includes high output alternators and starter motors for a vast array of applications in numerous industries such as automotive, school, coach, and city buses, commercial truck, off-road equipment, and mining vehicles, in addition to large capacity diesel engine generators and marine.
Product offerings include 12, 24, 48, and other voltage ranges of alternators from 30 amperes to 600 amperes and starter motors from 0.7 kilowatt to 15 kilowatt, and motors and controllers of various output ranges, backed by a worldwide service and support network.
In January 2014, Broad-Ocean Motor acquired Prestolite Electric’s China alternator, starter motor, and electric vehicle component manufacturing operations. The current transaction completes the combined Broad Ocean-Prestolite global footprint, which spans Africa, Europe, Oceania, North, Central, and South America.
Together, Broad-Ocean Motor and Prestolite Electric will leverage each other’s strengths to enhance the product offerings and maximize growth potential across the globe.
“Broad-Ocean Motor has been serving its customers and growing its business for over 20 years. The Prestolite Electric acquisition will add value long-term for our shareholders and will allow us to further grow our business globally,” said Charles Lu, Chairman of Broad-Ocean Motor. “This acquisition will enable us to pursue our strategic plans to benefit our customers, suppliers, and employees.”
Broad-Ocean Motor is a global supplier of high-tech, high quality motors, alternators, and starters to multiple segments including appliances, air handlers, vehicle electrification, and light duty for the transportation sector. Broad-Ocean Motor was established in 1994 and is publicly traded in China.
Prestolite Electric is a global supplier of alternators, starters, and new energy solutions for commercial truck, bus, off-road equipment, military, and electric vehicles. Since 1911, Prestolite Electric has established a reputation of providing superior solutions to the transportation and industrial markets around the globe.
“Mid-America Trucking Show 2015! Yes, Leece-Neville will be there in Louisville with all the great heavy duty alternators and starter motors we’re noted for. Plus, we’ll be showcasing our latest designs and innovations, and we’ll have our sales and technical representatives there to answer all your questions.
Join us in Louisville at the Kentucky Fair & Exposition Center March 26th through the 28th. We’ll be waiting for you in booth number 18196. We’ll see you there!”
Prestolite Electric, a division of Leece-Neville Heavy Duty Systems, manufacturer of engine components and vehicle electric power solutions, was recently awarded standard alternator position at Navistar.
As a leading manufacturer of commercial trucks, Navistar selected the AVI160 (170 amps) as the standard heavy duty alternator. “The AVI160 product series is an All-Star performer in our portfolio and we are pleased that Navistar choosing to make it standard position,” says Don Yates, OEM Sales Manager. The AVI160 has proven itself as the standard position alternator on Navistar’s medium duty applications over the past two years. “It’s a high power density product that excels in today’s dynamic HD truck environment. We place a high value on our partnership with Navistar and being standard position is recognition that Navistar values the partnership as well.” explained Mr. Yates.
Prestolite Electric is a global supplier of alternators, starters, and new energy solutions for commercial truck, bus, off-road, military and electric vehicles. Over the past 100+ years, Prestolite Electric has established a reputation of world class customer service with an “Easy to do Business” philosophy.
Peterbilt Motors Company, a division of PACCAR (Nasdaq: PCAR), and Cummins Inc. (NYSE: CMI), announced earlier this year that the latest version of their SuperTruck demonstration tractor-trailer achieved 10.7 mpg last month under real-world driving conditions.
We are proud to be part of this endeavor, as our 240 amp AVi160 alternator is being utilized on this advanced vehicle system.
From the press release:
Developing a truck that could meet or exceed 10 mpg when fully loaded was considered unlikely, if not impossible, just a few years back, with most trucks averaging between 5.5 and 6.5 mpg. However, with advances in engines, aerodynamics and more, SuperTruck has proven that 10 mpg is attainable.
SuperTruck averaged a 75 percent increase in fuel economy, a 43 percent reduction in greenhouse gas (GHG) emissions and an 86 percent gain in freight efficiency in 24-hour, head-to-head testing against a 2009 baseline truck - all significant improvements.
The Class 8 Peterbilt Model 579, powered by a Cummins ISX15 engine, achieved 10.7 mpg during testing last month between Denton, Texas, and Vernon, Texas. The 312-mile route was the same one used two years ago, when the first version of the Cummins-Peterbilt SuperTruck averaged just under 10 mpg. The testing in both instances was conducted on a round-trip basis, to negate any wind advantage that might have been gained by traveling one way, and each tractor-trailer had a combined gross weight of 65,000 lb running at 64 mph. A longer, 500-mile route between Denton and Memphis, Texas, was also used to demonstrate the vehicle's fuel-efficiency improvement over a 24-hour test cycle.
The increase in fuel economy for the Cummins-Peterbilt SuperTruck would save about $27,000 annually per truck based on today's diesel fuel prices for a long-haul truck traveling 120,000 miles (193,121 km) per year. It would also translate into a more than 43 percent reduction in annual GHG emissions per truck. The potential savings in fuel and GHGs are enormous, given that there are about 2 million registered tractor-trailers on U.S. roads today, according to the American Trucking Associations.
Find more information by following these links:
- Peterbilt press release:
- MarketWatch Article:
Prestolite Electric Incorporated & Leece-Neville is pleased to announce that it has achieved certification to ISO 14001:2004 through its Environmental Management System (EMS). Prestolite has held the highest standards of quality management: ISO-9001 / TS-16949:2009 for over 6 years and Prestolite Electric’s recent ISO 14001 accreditation reinforces its commitment to continuous improvement.
Prestolite is committed to reducing our products' environmental impact and to be at the forefront with regards to legislation and market demands. ISO 14001 is an international recognized environmental standard that reassures our customers, suppliers and employees that we have provided an environmentally-friendly service and that we invest in the resources necessary to ensure a more sustainable future. This certification is especially important to our strategic business plan as we expand our efforts to compete in the worldwide marketplace.
Prestolite Electric LLC is pleased to announce the sale of its global business to Broad Ocean Motor and Ophoenix Capital Management (OCM). The transaction closed on Friday, January 24, 2014.
Broad Ocean Motor has acquired Prestolite Electric's China operations, and OCM has acquired Prestolite Electric’s rest-of-the-world operations, consisting mainly of the U.S. based parent company and Prestolite Electric's European subsidiary. Broad Ocean Motor, OCM, and Prestolite Electric have formed a global alliance of the three companies. Prestolite Electric's global business will continue to function as it did prior to the transaction - as a closely coordinated and effective global business. The same global management team will continue coordinating Prestolite Electric’s global business as before.
Mr. Charles Lu, Chairman of Broad Ocean Motors said, "Broad Ocean has been serving its customers and growing its business over the past 20 years. Our customer base has expanded to the U.S. and today Broad Ocean has almost 50% of its global sales in North America. The Prestolite Electric acquisition allows us not only to strengthen our China business and add value for our shareholders, but allows us to expand globally and leverage Prestolite Electric's established and strong global presence. We are excited to execute on all of the advantages this global alliance will bring to our customers, suppliers, partners and employees."
Dr. Dazong Wang, Chairman of Ophoenix Capital Management commented, "I am very proud today. Ophoenix has been successful in marrying three strong global enterprises into an even stronger global alliance. As an investor in this acquisition, it is our goal to create value while providing high quality, innovative solutions for our customers, globally. Combining OCM, Prestolite Electric and Broad Ocean Motor together in a global alliance allows us to do this while improving our product portfolio, technical competency, and time to market."
Prestolite Electric's global President and CEO, Joe Lefave, says, "This is an important day in Prestolite Electric's 100+ years as a recognized brand. We are writing a new chapter in our history with our new global alliance with Broad Ocean Motor and Ophoenix Capital Management. Charles, Dazong, and I are completely aligned in our objectives. We look forward to providing even more innovative products and customized solutions to our highly regarded customer base. We intend to build on our reputation of being the best-in-the-world "solutions provider" to our customers. We believe this, combined with our strong customer service and focus, is what sets us apart from the competition. We want to thank our customers, suppliers, and our talented workforce for all the support through this process."
Broad Ocean Motor is a global supplier of high-tech, high quality motors to multiple segments including appliances, air handlers, vehicle electrification, and light duty alternators and starters for the transportation sector. Broad Ocean Motor was established in 1994.
OCM is a British Virgin Islands based advisory and investment firm specializing in mid-sized investment opportunities in the transportation sector and other industrial sectors around the globe with a strong China angle. The OCM winning investment formula – East/West synergy via cross border M&A coupled with China driven growth (organic plus acquisition) through a full cycle investment approach from deal origination, execution, to post-deal operation.
Prestolite Electric is a global supplier of alternators, starters, and new energy solutions for commercial truck, bus, off-road, military and electric vehicles. Over the past 100+ years, Prestolite Electric has established a reputation of world class customer service.
Prestolite is proud to announce the release of the AVi2800 internal fan alternators.
Available in J180 and Pad Mount, these 12 volt, 190 amp units were designed specifically as updated model versions of the 2500/2800 series. High temperature rated, with remote sense capabilities these units are built for today's demanding applications.
Featuring 30 additional amps of power while weighing 30% less, the new AVi2800 are valued additions to our proven AVi line of alternators.
From the flyer:
Now available on Leece-Neville's market is the Pad Mount version of the AVi555. This lightweight unit packs a punch with its 12Volt 170Amp, state-of-art rotor design. This triple nickle alternator has joined the J180 mount design in providing our customers with the security of a solid, stable product line that they have been able to trust for over 20 years. The AVi555P is the most durable, reliable and greatest in its output class for all heavy duty alternators.
Hot off the press!!
Our European Division have just released their new 2013 product poster.
|We have released a new flyer for the 24 volt versions of the Titan M125 starter motors.|