ACAT GLOBAL BUYS STAKE IN OLIVER RACING PARTS
Catalytic converter manufacturer invests in Grand Rapids connecting rod builder
Advanced Clean Air Technologies Global (ACAT), manufacturers of lightweight catalytic converter substrates, has made a significant investment in Oliver Racing Parts (formerly Oliver Connecting Rods), the Grand Rapids, Mich. – based manufacturer of high-performance connecting rods.
The first phase of ACAT’s investment has cleaned up Oliver’s balance sheet, eliminating all debt. A second phase of investment will include equipment upgrades and adding key personnel to the company, according to ACAT CEO Joseph A. Moch.
“Oliver Racing Parts complements ACAT nicely,” said Moch. “Both companies are dedicated to manufacturing well-engineered, high-quality performance products for original equipment and aftermarket use, and both are made in the U.S.A. It’s a great fit.”
“ACAT’s investment will keep our company moving forward,” said Bruce Baldwin, founder of Oliver Connecting Rods., “This enables us to build up inventories and ensure product availability, our product line will expand to cover the growing market for premium high-performance connecting rods, and Oliver will have the resources to solidify our position as one of the world’s best connecting rod manufacturer.
The second phase of ACAT’s investment is expected to occur over the next six to twelve months, bringing machinery and new equipment upgrades to convert Oliver’s operation into a state-of-the-art manufacturing facility. Plans also call for Oliver to hire four to eight additional full-time employees and expand the company’s product line of high-performance connecting rods.
Oliver Racing Parts, which celebrates its 30th anniversary in 2013, manufactures connecting rods made from aircraft-quality steel for motorsports applications. Oliver Racing Parts feature the exclusive Parabolic Beam™ connecting rods, which offer the highest strength-to-weight ratio of any connecting rod on the market and deliver consistent performance in a wide variety of racing applications, from monster trucks to land speed racing to sprint cars and more.
About ACAT Global
ACAT Global LLC of Charlevoix, Mich., utilizes patented and proprietary technology and processes to manufacture the world’s lightest, smallest and most effective metallic catalytic converter substrates. The substrates, which use up to 30 percent less raw materials than the competition, improve efficiency while reducing pollutants emitted by internal combustion engines, fuel cells or any power source that creates emissions (from motorcycles to industrial facilities, such as power plants and oil refineries). ACAT Global strives to help clients meet their emissions reduction goals by providing solutions that comply with North American (U.S. Environmental Protection Agency and the California Air Resources Board) and worldwide emissions policies. For more information, visit http://www.acatglobal.com/
About Oliver Racing Parts
Oliver Racing Parts, founded in 1983 and headquartered in Grand Rapids, Mich., is an American manufacturer of connecting rods for motorsports applications. Oliver Racing Parts, which celebrates its 30th anniversary in 2013, manufactures connecting rods, machined by American craftsmen using American Mill-Certified aircraft-quality steel. Oliver Racing Parts feature the exclusive Parabolic Beam™ connecting rods, which offer the highest strength-to-weight ratio of any connecting rod on the market and deliver consistent performance in a wide variety of racing applications, including Late Models on Dirt and Asphalt, 410 Sprints, 360 Sprints, Modifieds, Drag Racing, Offshore, Truck Pulling, Tractor Pulling, Monster Trucks, Baja Off-Road Racing, Land Speed Racing at the Bonneville Salt Flats and more. For more information, visit http://www.oliverconnectingrods.com/ .