ThyssenKrupp Budd Sells Mexican Interest
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TROY, Mich., May 16: ThyssenKrupp Budd Company has announced the sale of its one-third interest in Aventec S.A. de C.V., Aventec Mexicana S.A., de C.V. and Aventec Ramos Arizpe, S.A. de C.V., three joint venture companies based in Mexico.
The ThyssenKrupp Budd shares were purchased by the two other joint venture partners, Hirotec Corporation and Sumitomo Corporation and their group companies. The sale price was not disclosed.
Aventec, formed in 1998, designs and manufactures sheet metal stampings and assemblies, such as doors and hoods, for automotive manufacturers in Mexico. Aventec's operations are based in Silao and Ramos Arizpe, Mexico.
The sale is in line with the decision of ThyssenKrupp to divest its North American body and chassis stamping operations. Aventec was ThyssenKrupp's last remaining body stamping activity in the North American market.
The Aventec companies are part of ThyssenKrupp Technologies, an international manufacturer of advanced-technology plants, components and machinery as well as a vendor to the automotive industry. As a global market leader in innovative systems and engineering capabilities, ThyssenKrupp Technologies supplies systems, modules, specialty machinery and components in addition to related services. The segment, with headquarters in Essen, Germany, has annual revenues of $18.3 billion and 68,500 employees worldwide.
Source: ThyssenKrupp USA
CONTACT: Christian Koenig of ThyssenKrupp USA, +1-248-643-3512
