[Congressional Record (Bound Edition), Volume 156 (2010), Part 13]
[Extensions of Remarks]
[Page 18424]
[From the U.S. Government Publishing Office, www.gpo.gov]




CONGRATULATING DIAMOND STANDARD ON EXCELLENCE IN CREATING AFTER-MARKET 
                                 PARTS

                                 ______
                                 

                            HON. STEVE COHEN

                              of tennessee

                    in the house of representatives

                       Tuesday, November 30, 2010

  Mr. COHEN. Madam Speaker, I rise today to congratulate Diamond 
Standard, a Memphis based company, for receiving an excellent rating 
from the Insurance Institute for Highway Safety (IIHS) for their after-
market bumpers. The IIHS, widely considered to be a leading authority 
on crash testing and auto safety, describes itself as ``an independent, 
nonprofit, scientific, and educational organization dedicated to 
reducing the losses--deaths, injuries, and property damage--from 
crashes on the nation's highways.'' IIHS found Diamond Standard's 
bumpers to be equivalent to factory equipment.
  Diamond Standard is truly an American company that shows the American 
dream is still alive and well. Owner and founder Mike O'Neal started 
his work in the automotive business as an employee for his father, John 
O'Neal, who owned a bumper re-chroming shop in West Memphis. In the 
1990's, Mike saw a demand for high-end, after-market bumpers. However, 
Diamond Standard did not officially begin selling its product until 
four years ago.
  Today, Diamond Standard and its sister companies have manufacturing 
and warehousing facilities in Ohio, Michigan, Oklahoma, Washington 
State, Pennsylvania, Arizona and Taiwan. Diamond Standard provides jobs 
for approximately 439 Americans, including 65 in Memphis.
  The collision replacement industry is estimated to generate more than 
$16 billion a year. Diamond Standard provides parts to nearly 15 
percent of companies within this industry. Because of the tremendous 
work they are doing, the company is worth an estimated $150 million a 
year. Mr. O'Neal has said that the Insurance Institute certification 
has the potential to double Diamond Standard's business in the next 24 
months.
  For the past 5-6 years Diamond Standard has invested about $2 million 
for research and testing to prove that its parts are comparable to 
those that are factory-made. Their recent invention of an after-market 
bumper that is comparable to a factory bumper is significant because it 
has never been done before. This new and safe bumper has the potential 
to lower bumper-replacement costs for hard working Americans.
  Diamond Standard has given Memphis much of which to be proud. Its 
investment in research and development, revolutionary innovation and 
operational expansion is truly emblematic of the American 
entrepreneurial spirit. Madam Speaker, I ask the House to join me in 
congratulating Diamond Standard for the excellent rating they received 
for their after-market bumpers and for the bright future Diamond 
Standard will surely have.

                          ____________________