Remy International, Inc. Business Report FY ended Dec. 2012

Business Highlights

Financial Overview 

(in million USD)
  FY ended Dec. 31, 2012 FY ended Dec. 31, 2011 Rate of change (%) Factors
Net Sales 1,133.5 1,195.0 (5.1) 1)
Operating Income 97.9 121.0 (19.1) -

1) Net Sales
-Net sales decreased by USD 61.4 million, or 5.1%, to USD 1,133.5 million for the year ended December 31, 2012, from USD 1,195 million for the year ended December 31, 2011. Volume accounted for USD 30.4 million of the decrease while mix and pricing contributed another USD 26.5 million, partially offset by metals recovery of USD 9.4 million. 


-The Company announced the signing of a long-term supply agreement with DMA in Istanbul, Turkey. DMA will use the Company's HVH250 motor as the traction motor in the 5-passenger all electric sedan, which will be available during the third quarter of 2012. The DMA all electric sedan will deliver a driving range of about 200 miles and achieve a top speed of 110mph (180kph). DMA is a joint venture between Promeks Dis Ticaret, A.S., and Derindere Otomotiv, A.S. DMA has been involved in the research and development of electric vehicles for over six years. (From a press release on June 13, 2012)

-The Company's Electric Motor Division and VIA Motors announced a joint agreement to supply powertrains for the VIA Extended-Range Electric Vehicle (eREV). VIA offers a full lineup of extended-range electric trucks, vans and SUVs called VTRUX, each equipped with the Company's eREV powertrain. The Company will integrate its HVH motor into the VIA eREV powertrain. (From a press release on June 11, 2012)

-The Company announced the signing of an agreement to supply its HVH250 electric motors to Quantum Fuel Systems Technologies Worldwide Inc. Quantum will use the motors in its Ford "F-150" PHEV program. Quantum will install the Company's HVH250 electric machine as the traction motor into a parallel hybrid system that delivers an all-electric range of 35 miles and a hybrid operational range of 400 miles. (From a press release on May 15, 2012)

-The Company and the U.S.-based Enova Systems, Inc. signed a long-term electric motor supply agreement. Under the five year agreement, the Company will provide its High Voltage Hairpin (HVH) motors to Enova for its all electric drive systems. (From a press release on March 7, 2012)

Business Partnership

-The Company announced the completion of a project with Benteler Engineering to develop a new concept heavy-duty hybrid truck for MAN. The vehicle, called the "Metropolis", will use the Company's HVH410 electric traction motor and generator. The "Metropolis" is capable of performing heavy-duty transport tasks, such as refuse collection, without emissions and almost completely without noise. MAN enlisted Benteler as the system integrator for the "Metropolis", which was presented at the IAA 2012 Commercial Vehicles Motor Show in Hannover, Germany. (From a press release on August 27, 2012)

-The Company's Electric Motor Division and AMP Electric Vehicles announced that their collaboration, an all-electric AMP GCE, made its debut at the 2012 North American International Auto Show in Detroit, USA. This model combines two of the Company's HVH 250 electric motors. (From a press release on January 20, 2012)

Plant Closure

-The Company announced its intention to close Mezokovesd, Hungary plant. Production will be transferred to other facilities by the end of 2012. (From a press release on August 8, 2012)


R&D Expenditures

(in million USD)
  FY ended Dec. 31, 2012 FY ended Dec. 31, 2011 FY ended Dec. 31, 2010
Total 26.0 26.5 17.5

-The Company has over 300 engineers focused on design, application and manufacturing.

Investment Activities

Capital Expenditure

(in million USD)
  FY ended Dec. 31, 2012 FY ended Dec. 31, 2011 FY ended Dec. 31, 2010
Overall 24.5 21.2 19.1

Investment Outside USA

-The Company announced that they were building a manufacturing plant and engineering center in the Wuhan Economic and Technological Development Zone (WEDZ) in Wuhan, Hubei Province, China. The Company will form a Wholly Foreign Owned Enterprise (WFOE) to manage its operations. The Company intends to use the facility for hybrid motor engineering and manufacturing. The new operation will also house engineering labs and manufacturing for heavy-duty starters and alternators. (From a press release on May 21, 2012)