The purchase by Brake Parts Inc LLC (BPI) of the assets of OE Quality Friction Inc. (OEQF) was finalized ahead of schedule on January 28, according to David Overbeeke, president and CEO of Brake Parts Inc.
“We are pleased to announce that we have completed our purchase of the assets of OEQF,” said Overbeeke. “Since we began operating the Juarez manufacturing facility a little over a week ago, we are encouraged to see such swift progress. We’ve gotten exceptional support from our supply chain partners. The employees are enthusiastic about the changes and actively engaged in supporting our customer-focused heritage. We are working quickly to integrate the Juarez plant into the same operating structure as our other nine plants worldwide.”
BPI began operation of the OEQF plant in Juarez, Mexico immediately after entering into an interim operating agreement and an asset purchase agreement with OEQF’s receiver on January 20.
“The support we’ve received from our customers reinforces our decision to move forward with this acquisition. We will continue to look for ways to expand BPI and its product lines, evaluating opportunities as they arise,” continued Overbeeke. “It is our goal to grow strategically, leverage our expertise and supply top quality products, all to best serve our growing customer base.”