Standard Motor Products
| Company type | Public |
|---|---|
| NYSE: SMP | |
| Industry | Automobile |
| Founded | 1919 |
| Founder | Elias Fife, Ralph Van Allen, |
| Headquarters | Long Island City, New York , United States |
Area served | Worldwide |
| Website | smpcorp.com |
Standard Motor Products, Inc. (SMP[1]) is a manufacturer and distributor of automotive parts in the automotive aftermarket industry. Standard Motor Products was founded in 1919 by Elias Fife and Ralph Van Allen, originally in New York City. It has been publicly traded on the New York Stock Exchange since 1977.[2]
Standard Motor Products, Inc. sells its products to warehouse distributors and large auto parts retail chains around the world. Standard Motor Products, Inc. operates under its own brand names such as Standard, BWD Automotive, Blue Streak Automotive, Blue Streak Wire, TechSmart, Intermotor, Factory Air, Four Seasons, as well as under private labels for key customers.
History
Found in 1919, Standard Motor Products started as a partnership between Elias Fife and Ralph Van Ellen. In 1920 Van Allen opened a Standard Motor Products branch in Seattle. In 1921 the Standard Motor Products headquarters moved from Manhattan to the industrial neighborhood of Long Island City in the New York borough of Queens. The partnership dissolved in 1925 and in 1926 it was incorporated with Fife as the sole proprietor. From this point Van Allen operated a separate company in Los Angeles under the same name and logo until he sold it to Fife in 1936. SMP has steadily grown with the automative age, evolving from ten employees to 4,000 at its peak. [3]
Operations
The company operates in two segments: Engine Management Segment and Temperature Control Segment. The Engine Management Segment manufactures ignition and emission parts, ignition wires, battery cables and fuel system parts. The Temperature Control Segment manufactures and remanufactures air conditioning compressors, air conditioning and heating parts, engine cooling system parts, power window accessories, and windshield washer system parts.[4]
Standard Motor Products, Inc. was listed in 1977 on the New York Stock Exchange (NYSE).[5]
Product Lines
Blue Streak line of premium impact parts was introduced in the 1930's. It acquired Hygrade Products Co. in 1947 the company expanded its product line to include speedometer cables, carburetor repair parts, shock-absorber parts, and fuel pumps. It introduced the Hygrade System in 1950. The popular kits were simplified carburetor kits for tune-ups and light overhauls.
In July 1997 Standard Motor Products, Inc. swapped its brake business for Cooper Industries' temperature control business. The companies exchanged assets, assumption of liabilities, and possibly a cash payment.[6]
In January 2014, the Company acquired the assets of Pensacola Fuel Injection, a privately-held company.[7]
Sales
Included in Crain's 2012, "Top 250 Publicly Held Companies"[8] Standard Motor Products is usually viewed as
References
- ^ "MarketWatch.com". Retrieved 11 February 2014.
- ^ New York Stock Exchange. "New York Stock Exchange". Retrieved 26 February 2014.
- ^ "Funding Universe". Funding Universe. Retrieved 14 March 2014.
- ^ "The New York Times Intro". Retrieved 11 February 2014.
- ^ "Yahoo Finance". Yahoo. Retrieved 11 February 2014.
- ^ "Archives". Standard Motor and Cooper To Swamp Some Businesses. The New York Times. Retrieved 17 March 2014.
- ^ "Business Day". Company Information. The New York Times. Retrieved 17 March 2014.
- ^ "Crain's New York Business". Top 250 Publicly Held Companies 2012. Crain's New York Business. Retrieved 17 March 2014.