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Boston, MA 06/11/2013 (wallstreetpr) – The share prices of Motorcar Parts of America Inc. (NASDAQ:MPAA) had surged by 12.56 percent to close at $7.53 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $7.00 to $7.80 thereby pushing the company to hit new high levels. The shares of Motorcar Parts of America Inc. (NASDAQ:MPAA) had thereby adjusted to new 52 week high price level of $7.80 per share and 52 week low price level of the company is at $3.96 per share.

Motorcar Parts of America Inc. (NASDAQ:MPAA) is primarily engaged in the manufacture and sales of new and remanufactured components of automobile. The product lines of the company include brake calipers, steering components, hub assembly and bearings, master cylinders and clutches and clutch hydraulics. Motorcar Parts of America Inc. (NASDAQ:MPAA) serves component parts to almost all passenger and truck vehicles including agricultural and industrial applications.

Motorcar Parts of America Inc. (NASDAQ:MPAA) had recently announced that it had written off the company’s investment in Toronto based Fenwick Company, which was acquired by it in May, 2011 for $5 million in common stock. The company would thereby divest its stake in Fenco after which it plans to file for bankruptcy protection.

Fenwick Company is involved in the manufacture of brake components, axles and other under the car parts and operates under the Fenco brand name. Motorcar Parts of America Inc. (NASDAQ:MPAA) had for long struggled to integrate the operations of Fenwick into its own product lines and had finally resulted in $6.9 million operating loss in the third quarter of this fiscal year, thereby dragging down the financial performance of the Torrance based car components manufacturer.

This had resulted in the decision of Motorcar Parts of America Inc. (NASDAQ:MPAA) to shed off its stake in the Fenwick Company and thereafter file bankruptcy protection.

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While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. You may contact Brendan via his email (brendanbyrne@wallstreetpr.com) or his Google+ page (https://plus.google.com/u/0/116608759701551457422).