Under the agreement, Intraco, a privately held company based in Troy, Mich., will serve as the exclusive marketing arm of Hastings piston rings, valve-spring inserts, valve seals and related accessories in the Latin American and Middle Eastern markets.
The alliance represents a substantial opportunity for Hastings to increase sales in three key international markets, said Mark Johnson, Hasting’s chairman and CEO.
It also represents an expansion of the Hastings-Intraco relationship. Hastings has worked with Intraco for years in the Middle East, marketing and selling Casite branded vehicle chemicals worldwide, he said.
The Intraco deal is the latest in a series of marketing and distribution alliances Hastings has made recently.
The company signed an agreement in March 2001 to become the exclusive marketer and distributor of Zollner brand pistons and ACL brand engine components in the United States and Mexico.
In November 2001, Hastings became the exclusive U.S. and Mexican marketer and distributor of ACL engine components, including bearings, gaskets and import pistons.