Pomona, Calif., Dec. 13, 2000 (PRIMEZONE) -- Keystone Automotive Industries, Inc. (Nasdaq:KEYS) today announced that it has completed the acquisition of Johnstown Bumper, located in Windber, Pennsylvania. Terms of transaction were not disclosed.
Charles J. Hogarty, Keystone's president and chief executive officer, said, "This acquisition allows us to provide service in the central and southern portions of Pennsylvania. This is in line with our objective of building a nationwide distribution network for aftermarket collision replacement parts."
Mr. Hogarty also said, "We are very encouraged by recent developments whereby two large automobile insurers have returned to using aftermarket parts with an emphasis on quality and customer satisfaction. We stand by our long-held belief that competition fostered by quality aftermarket parts provides significant benefits to consumers through lower repair costs and lower insurance premiums."
ABOUT Keystone
Keystone Automotive Industries, Inc. distributes its products throughout the United States primarily to collision repair shops through its 118 warehouses, of which 21 serve as regional hubs. Its product lines consist of automotive body parts, bumpers, auto glass and remanufactured alloy wheels, as well as paint and other materials used in repairing a damaged vehicle. These products comprise more than 19,000 stock keeping units that are sold to more than 25,000 repair shops throughout the nation.