Behr buys heat-transfer business
SOUTHFIELD, USA - Federal-Mogul Corp. has sold its South African heat-transfer business to Behr GmbH, the Stuttgart-based manufacturer of engine cooling systems and air conditioning products. The heat-transfer business had sales of $56 million last year. Terms of the deal were not disclosed.
Robert Sherefkin/Karalynn Ott
Valeo to offload Prismatic unit
PARIS - Valeo will sell its Brazilian glass-making business as part of a restructuring of its operations in South America. European group Holophane will acquire Valeo's 80 percent stake in vehicle headlight glass manufacturer Prismatic for an undisclosed sum. Valeo also intends to close its engine cooling and security systems operations in Buenos Aires, Argentina, and shut another engine cooling plant in Betim, Brazil.
Hayes' Dutch unit acquires supplier
DETROIT - A subsidiary of Hayes Lemmerz International Inc. of Romulus, Michigan, USA, has completed its acquisition of Metaalindustrie Bergen BV of the Netherlands. The acquisition is expected to help the Hayes Lemmerz subsidiary, Metaalgieterij Giesen BV of the Netherlands, increase its machining capacity and speed its growth in Europe. The subsidiary makes finished aluminum cast products for the automotive and heavy-truck industries.
Bosal to operate new facility
Bosal's £5 million (euro 7.6 million, $8.1 million) plant in Tredegar, Wales, will begin operating in June. The 12,500-square-meter factory will manufacture exhaust systems, exhaust manifolds and towbars. Two hundred thousand towbars are expected to be produced in the first full year of production. Bosal also has manufacturing plants in Preston, England, and distribution centers in Preston and London.
US expansion for GKN Sinter Metals
LONDON - GKN Sinter Metals has acquired US powder metal parts producer Fairview Sintered Metals Inc. The new company will be known as GKN Sinter Metals-St Mary's. Fairview produces powder metal bearings, bushings and other structural components for customers in the automotive and industrial equipment industries. Fairview, based in St Mary's, Pennsylvania, employs 140 people and had revenues of $13 million last year.
GKN Sinter Metals, part of UK industrial giant GKN plc, uses powdered metal and a baking process to manufacture parts for General Motors, Daimler-Chrysler, Ford Motor Co. and others. It has annual sales in excess of $600 million. GKN Sinter Metals will also invest $40 million to expand and renovate its plant in Romulus, Michigan, USA. A new technology center is also planned.