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Remy
International, Inc. (OTC Pink: RMYI) (formerly Delco Remy) headquartered in
Pendleton, Indiana is a manufacturer, remanufacturer, and distributor of light
duty starters, alternators, hybrid power technology, and Delco Remy brand heavy
duty systems. Remy has 48 facilities in 11 countries around the world.
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 a magneto and by
1910 the company was producing 50,000 magnetos a year.
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 on a
ten week trip from the hills of Kentucky to the swamps of Florida.
The
Remy brothers sold their firm to Stoughton 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.
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 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.
In
1918, Delco Remy began operating as a division of General Motors, developing
advanced technologies and providing the industry with automotive, heavy duty,
and U.S. 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.
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