Vendor Supply Chain Financing Programme Launched by MPA

The firm Motorcar Parts of America, Inc. announced the establishment of a vendor supply chain finance programme aimed at improving cash flow and terms of payment for the company’s valued vendors. According to MPA, a FinTech business that provides services to suppliers in over 80 countries and numerous currencies would be in charge of managing the platform. The business said that in order to facilitate the extension of terms for its accounts payable, it is enlisting the help of a syndicate of supply chain finance groups.

With the firm keeping its non-recourse accounts payable approach, the online platform will give suppliers visibility into the payment of authorized invoices in the future and the opportunity to acquire early payment choices.

“This supply chain finance program’s introduction enhances our strategy emphasis on reducing the need for working capital and finding ways to boost cash flow. As this program’s planned rollout progresses, we look forward to sharing more benchmarks,” chairman, president, and CEO Selwyn Joffe stated.

Regarding American Auto Parts

Automotive aftermarket components are produced, remanufactured, and distributed by Motorcar Parts of America, Inc. (MPA) for use in domestic and foreign passenger cars, light trucks, and heavy-duty vehicles. These parts include alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, turbochargers, and diagnostic testing equipment. Its administrative offices are in California, Tennessee, Mexico, Singapore, Malaysia, and Canada; its facilities are spread across California, New York, Mexico, Malaysia, China, and India. Its goods are distributed throughout the US, Canada, and Mexico to retail automobile businesses and professional repair industries. Additionally, the company’s affiliate for electrical vehicles creates and provides testing solutions for the efficiency, robustness, and production of different electric power.

Forward-looking statements are protected by the Private Securities Litigation Reform Act of 1995, which established a “safe harbour”. The news release’s assertions that aren’t historical facts are forward-looking statements that reflect the company’s current assumptions and opinions about upcoming events and how they could affect it. These forward-looking statements are subject to change in response to a number of variables and contain a number of substantial risks and uncertainties, some of which are without the company’s control. Regarding further risks and uncertainties affecting the firm, reference is also made to the Risk Factors listed in the Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2023 and in the Forms 10-Q submitted with the SEC. The business makes no commitment to publicly update or modify any forward-looking statements, regardless of whether additional data comes to light.