News

Automotive supplier buys US casting company.

Issued at 2012-08-21



 L French Automotive Castings Inc, Sheboygan, Wisconsin (USA) 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 subject to customary closing conditions, including regulatory approval. The 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. “This transaction will provide long-term financial support for J L French with an automotive supplier parent company.”
Nemak is a major supplier in the aluminium automotive components business, with a focus on engine blocks and cylinder heads. Nemak operates facilities in Asia, Europe, North America and South America and employs nearly 18,000 worldwide.

“This acquisition offers attractive growth opportunities in aluminium 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 automobile components to the transportation industry. The company operates six manufacturing facilities throughout the world and employs more than 1,900. Its facilities are located in North America, Europe and Asia.


Source: Foundry Trade Journal



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