INDUSTRY NEWS
Nemak Expands Global Reach With J.L. French Purchase J.L. French Automotive Castings
Inc., Sheboygan, Wis., announced it has entered into a definitive agreement to be acquired by Nemak S.A. de C. V., Monterrey, Mexico. According to a statement released
by J.L. French, the transaction is sub- ject to customary closing conditions, including regulatory approval. Te purchase price was not disclosed. “We feel this acquisition will allow
J.L. French to thrive under the new ownership of a company that has a high stake in our success,” said Tom Musgrave, J.L. French’s chief executive officer, president and chairman. “Tis transaction will provide long-term financial support for J.L. French.” Nemak is a major supplier in the aluminum automotive components business, with a focus on engine blocks and cylinder heads. Nemak operates facilities in Asia, Europe, North America and South America. Te company em- ploys nearly 18,000 worldwide. “Tis acquisition offers attractive
growth opportunities in aluminum transmission components,” said Alvaro Fernandez Garza, president of Nemak parent company Alfa. “Furthermore, J.L. French’s technology will facilitate our entrance into other high value-added products, such as suspension and structural parts.” J.L. French supplies primarily auto- mobile components to the transporta- tion industry. Te company operates six manufacturing facilities throughout the world and employs more than 1,900. Its facilities are located in North America, Europe and Asia.
Nemak will add the J.L. French metalcasting facilities to its global network of automotive component supply plants, including the block and head facilities at its Monterrey, Mexico, headquarters.
Grede Acquires Virginia Casting Industries Grede Holdings LLC, South-
field, Mich., has acquired substan- tially all the assets of Virginia Cast- ing Industries LLC, Radford, Va. Renamed Grede Radford LLC,
the primarily automotive metalcast- ing facility becomes Grede’s 17th
in
North America. Te acquisition, the terms of which were not disclosed, is Grede’s third in the past 12 months. Current employment at the Radford
8 | MODERN CASTING May 2012
facility is 170. Te company said in a press release it expects to expand the facility to 270 employees in 2013. “The addition of Grede Radford to our manufacturing footprint is a perfect complement to our strong automotive portfolio of safety-criti- cal parts, including steering knuckles and lower control arms,” said Doug Grimm, Grede’s chairman, president and CEO. “It is very similar to our
St. Cloud, Minn., foundry.” Last April, Grede acquired No-
voCast and Teknik, both based in Monterrey, Mexico. Last November, the casting conglomerate acquired the Paxton Mitchell Corp., Omaha, Neb. Grede estimates its annual revenues
in excess of $1 billion and now has 5,270 employees among its 17 metal- casting facilities and four machining operations in North America.
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