Budd Mexico JV
SILAO, Mexico - Budd Co. has formed a joint venture with Hirotec Corp. and Sumitomo Corp. to design and manufacture automotive sheet-metal stampings and assemblies for carmakers in Mexico. The partners will have equal shares in the Silao-based venture, Aventec SA de CV. Hirotec is a tooling and die specialist, and makes door parts for all Mazda cars built in Japan.
Hall acquires Grayman
SHREWSBURY, UK - Hall Engineering Holdings has conditionally agreed to acquire Grayman Tooling and Pressings Ltd. from parent company Saltofix Ltd. for £2.9 million ($4.7 million). Llanfyllin-based Grayman manufactures automotive stampings and parts, and would operate as part of Hall's Stadco subsidiary.
Textron buys German firm
PROVIDENCE, Rhode Island -US-based Textron has bought German fastener manufacturer Suekosim Verbindungselemente Group for $53 million. Suekosim's main customers are Daimler-Benz, Volkswagen, Opel and BMW.
TRW acquires Fickensher
CLEVELAND, Ohio - TRW Inc. has acquired German plastic mold tools manufacturer Fickenscher & Co. GmbH for an undisclosed sum. Fickenscher's 1997 sales were DM22 million ($12 million). The company has patented technology which complements TRW's fastening systems.
Manuli increases stake in Murray
MILAN, Italy - Manuli Rubber Industries SpA has acquired a further 48.5 percent stake in Murray Europe SpA, bringing its total shareholding in the Italian company to 81.8 percent. Murray Europe assembles automotive air conditioning and power-steering hose assemblies.
Manuli will buy the remainder of the shares, and values Murray Europe at around $2 million.
Tomkins buys US tire-valve maker
LONDON - UK-based Tomkins will buy Schrader-Bridgeport International Inc., a US tire-valve maker, for $256 million. Schrader-Bridgeport, based in Deerfield, Illinois, made an operating profit of $23.3 million on sales of $175.9 million last year, and has plants in the USA, Mexico, Brazil, France, UK and India.
Visteon buys Polish parts companies
WARSAW, Poland - Visteon has acquired two automotive component companies from Warsaw-based Pol-Mot Holding. The firms, Pol-Mot Praszka and Pol-Mot ZEM, will be renamed Visteon Poland SA and Visteon ZEM SA, respectively.
Visteon Poland makes air brakes, oil and water pumps and coil springs, and employs 1,620. Visteon ZEM makes wiper systems and blower system motors, and employs 620.