History
Remy International had its beginnings in 1896 when Frank and Perry Remy opened a home wiring business in Anderson, Indiana. In 1901 the Remy Electric Company was incorporated. Perry Remy had conducted experiments with magnetos and by 1910 the company was producing 50,000 magnetos a year.[3]
To prove the dependability of their product, the Remy brothers sent two men on a 6,000-mile (9,700 km) journey in 1909. They drove a Remy-equipped Buick Four on a ten-week trip from the hills of Kentucky to the swamps of Florida.
The Remy brothers sold their firm to Staughton Fletcher, Jr. and the Fletcher Savings and Trust in 1911 for a reputed one million dollars. Fletcher expanded the product line to include cranking motors, generators, and distributors.[3]
Remy's competition was Dayton Engineering Laboratories Company (Delco) under the leadership of Charles F. Kettering. Kettering also manufactured ignition equipment and generators.
The United States Motor Company purchased the two competitors in 1916 and incorporated them into their operations. The companies remained separated until purchased by General Motors two years later.[3]
In 1918, Delco Remy began operating as a division of General Motors, developing advanced technologies and providing the industry with automotive, heavy duty and military products. A successful General Motors division for more than 75 years, Delco Remy became its own entity in 1994 when a group of private investors bought the heavy duty and automotive divisions.[3]
Delco Remy changed its name to Remy International on August 1, 2004. The company continued to use the Delco Remy brand for some products under license from General Motors.[3]
BorgWarner announced an agreement to acquire Remy International on July 13, 2015, and completed the acquisition on November 10, 2015. "Delco Remy" remains a registered trademark of General Motors Corporation licensed to BorgWarner PDS (Anderson) L.L.C.[4]
On January 25, 2019 BBB Industries, LLC, acquired the equity interests of the Remy North American Rotating Electric business consisting of Worldwide Automotive, LLC and Remy Mexico Holdings B.V., more commonly known as “Remy Power Products”. The transaction encompasses the entirety of the North American Rotating Electric business. The “Remy” brand is a licensed trademark of BBB Industries, LLC.[5][6]
Nasdaq listing
On December 13, 2012 Remy International was listed on the Nasdaq stock exchange and CEO John Weber rang the ceremonial opening bell on December 17, 2012.[7] Approximately one year later, Remy stock was listed to the Nasdaq Global Select Market on December 16, 2013.[8]
USA Industries acquisition
Remy International announced on January 13, 2014 that it would acquire the assets of USA Industries. USA Industries is a worldwide distributor of remanufactured and new alternators, starters, CV axles and disc brake calipers. It was founded in 1985 in Bay Shore, New York. Today, USA Industries has over 300 employees with warehousing and distribution centers across the United States.[9]
