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ATK New Ownership

For Immediate Release

September 21, 2007

ATK North America Announces New Ownership

Owners Include former Kia Motors President/CEO

SANTA ANA, CA —September 21, 2007—North American ATK, the largest private label engine remanufacturer in North America, recently announced new ownership. Peter M. Butterfield, former President and Chief Executive Officer of KIA Motors America and Ton Versteeg, President and CEO of VEGE de Mexico and VEGE Motodis have purchased the company from the founding family. The new owners also announced the purchase of the Mexico division of VEGE Motoren, previously a Netherlands based company.

Mr. Butterfield last served as CEO for Kia Motors America. While at Kia he grew the company to over 650 dealerships while doubling the revenue to over $5 billion. Under his leadership Kia was able to successfully achieve sales and volume records for four consecutive years. Butterfield also served as the EVP of Volvo Cars of North America, where he led the company to all-time volume and sales records. He is often featured as an automotive expert by numerous news outlets, including the Bloomberg World Financial Report. Butterfield sits on numerous boards of directors, including not-for-profit organizations. Butterfield received his BA in Psychology from Northern Illinois University and graduated from the Harvard Business School Advanced Management Program.

Mr. Versteeg started his career at age 18, where he participated in building the first off-shore plant for VEGE in Tunisia. Starting in 1981, Versteeg was instrumental in building the VEGE de Mexico facility in Monterey as well as starting VEGE Motodis, the Mexican distribution arm of VEGE de Mexico. Over the past 20 years, Versteeg has established the culture and foundation for these quality driven organizations. He has since managed VEGE de Mexico as the President of Operations. Under his leadership, the manufacturing plant continues to expand its volume and product scope and remains the only ISO/TS 16949 and ISO 14001 certified remanufacturing plant in North America. Versteeg graduated with an engineering degree from Automotive University Apeldoorn, the Netherlands, and currently sits on various boards of directors.

About ATK/VEGEATK North America and VEGE de Mexico maintain a combined 75 year history in the remanufacturing industry. Founded in Holland in 1936, VEGE Motoren pioneered the remanufacturing industry and was the first to offer “new car” style warranties to compliment their product. Today, ATK/VEGE has three corporate offices and employs approximately 500 employees from over seven countries. The company remanufactures and distributes a full line of domestic and import engines, transmissions, cylinder heads, and crank shafts. With seven warehouses spread across the US and another five in Mexico, the company takes pride in maintaining an average of 1.9 day delivery time. ATK/VEGE is the only remanufacturer to hold the internationally known ISO/TS 16949 quality certification and was recently named the recipient of 2007 Customer Service Leader of the Year by independent research group Frost & Sullivan.

Contact: ATK North America, Shannon Empting (800) 421-3746

 
Copyright ATK North America

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