Anstro 

Purchased in July 1999 and subsequently integrated with IBI's shim production, Anstro is a leading Tier II supplier of aftermarket parts for disc brakes. The Company supplies the world's leading brake component manufacturers (Dana, Federal Mogul, Morse, etc.) with one of the broadest lines of replacement parts, servicing disc brakes exclusively. The Company offers a complete line of brake parts, including shims, back plates, and hardware kits, that are mass-produced parts of brake systems and require replacement as brake pads deteriorate from use (approximately every 30,000-35,000 miles driven). The breadth of its product line, combined with its technical and engineering expertise and "first to market" reputation, has enabled the Company to develop and maintain strong relationships with the leading friction manufacturers in the industry.

Products
With an active product line of over 3,000 SKUs, the Company offers one of the most extensive product lines in the industry, carrying virtually every type of disc system. The majority of Anstro's products represent a smaller component of the overall braking system (i.e., shims, hardware). As demonstrated by the chart below, the majority of the division's revenues are from shims, which are sound and vibration dampening parts attached to back plates. Following the integration with IBI, Anstro became the #1 producer of shims in the industry (43% market share). In addition to shims, the Company produces back plates, which are eventually attached to friction material, and connection hardware. Within its primary product categories, shims and hardware, the Company has established meaningful market share positions, which have increased steadily over time.
Customers
The Company sells its products to friction manufacturers that in turn incorporate the component into the final product, which are sold to both the OEM and aftermarket segments. For example, as seen in the charts below, the division's primary customers, Dana, Federal Mogul, and Morse, incorporate Anstro's products into their own braking systems that are sold under branded labels, such as Raybestos, Wagner, Bendix, and Friction Master. The customers are primarily multinational, industrial companies, which represent the largest percentage of the brake components market. They directly serve the Tier 1 OEM market, the OES market, and the aftermarket channel. 

With a reputation for superior reverse engineering that enables the Company to be "first to market" with replacement parts following the introduction of new or refined braking systems, Anstro has been successful in securing and increasing its shares with its top customers. Given the wide proliferation of braking systems - typically a slightly different design on the introduction of new vehicles to the market, the Company's customers view the "first to market" capability as the distinguishing factor in purchasing decisions. In being first to market, the Company allows its customers to introduce replacement brake parts to its end customers (i.e., auto part retailers) and the aftermarket prior to the expiration of the OEM product lifecycle. This positions Anstro to secure additional shares from customers through product line fills and repeat sales from a particular component introduction.

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