ATLANTA, Oct. 5, 2016 /PRNewswire/ -- Genuine Parts
Company (NYSE: GPC) announced today that Motion Industries, the
Company's Industrial Parts Group, has acquired Braas Company.
Braas Company is a leading multi-regional distributor of
products and services for industrial automation and control,
specializing in pneumatics, motion control, industrial networking,
machine safety, robotics and related industrial parts.
Founded in 1961, Braas Company is based in Eden Prairie, Minnesota, and serves thousands
of customers throughout the Midwest and Southeastern United States from a network of
five sales offices and three warehouses. The addition of
Braas Company is expected to generate annual revenues of
approximately $90 million.
Paul Donahue, President and Chief
Executive Officer of Genuine Parts Company, stated, "Braas Company
is a well-established distributor of products and services in the
industrial automation and control categories. The
growth prospects for this segment of the industrial marketplace are
compelling, and the addition of such a well-positioned business
serves to substantially enhance our automation capabilities.
We are pleased to welcome the Braas Company team to the Motion
Industries and GPC family, and we look forward to their future
contributions to our collective success."
Forward Looking Statements
Some statements in this report, as well as in other materials we
file with the Securities and Exchange Commission (SEC) or otherwise
release to the public and in materials that we make available on
our website, constitute forward-looking statements that are subject
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Senior officers may also make verbal
statements to analysts, investors, the media and others that are
forward-looking. Forward-looking statements may relate, for
example, to future operations, prospects, strategies, financial
condition, economic performance (including growth and earnings),
industry conditions and demand for our products and services.
The Company cautions that its forward-looking statements involve
risks and uncertainties, and while we believe that our expectations
for the future are reasonable in view of currently available
information, you are cautioned not to place undue reliance on our
forward-looking statements. Actual results or events may
differ materially from those indicated as a result of various
important factors. Such factors may include, among other
things, the Company's ability to successfully implement its
business initiatives in each of its four business segments; slowing
demand for the Company's products; changes in general economic
conditions, including, unemployment, inflation or deflation;
volatile exchange rates; high energy costs; uncertain credit
markets and other macro-economic conditions; competitive product,
service and pricing pressures; the ability to maintain favorable
vendor arrangements and relationships; disruptions in our vendors'
operations; the Company's ability to successfully integrate its
acquired businesses; the uncertainties and costs of litigation;
disruptions caused by a failure or breach of the Company's
information systems, as well as other risks and uncertainties
discussed in the Company's Annual Report on Form 10-K for 2015 and
from time to time in the Company's subsequent filings with the
SEC.
Forward-looking statements are only as of the date they are
made, and the Company undertakes no duty to update its
forward-looking statements except as required by law. You are
advised, however, to review any further disclosures we make on
related subjects in our subsequent Forms 10-K, 10-Q, 8-K and other
reports to the SEC.
About Genuine Parts Company
Genuine Parts Company is a distributor of automotive replacement
parts in the U.S., Canada,
Mexico and Australasia. The
Company also distributes industrial replacement parts in the U.S.,
Canada and Mexico through its Motion Industries
subsidiary. S.P. Richards Company, the Office Products Group,
distributes business products in the U.S. and Canada. The Electrical/Electronic Group, EIS,
Inc., distributes electrical and electronic components throughout
the U.S., Canada and Mexico. Genuine Parts Company had 2015
revenues of $15.3 billion.
Logo -
http://photos.prnewswire.com/prnh/20081002/CLTH108LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/genuine-parts-company-announces-acquisition-of-industrial-automation-and-control-distributor-300340052.html
SOURCE Genuine Parts Company