- Strategic acquisition will strengthen Metalsa's global
footprint and capabilities in automotive and commercial vehicle
markets
MONTERREY, Mexico, Nov. 26, 2012 /PRNewswire/ --
Metalsa, S.A. de C.V. has announced its agreement to acquire the
global assets of ISE Automotive GmbH, a portfolio company of the
Private Equity Fund Nordwind Capital. The acquisition is
subject to the standard conditions of completion, including
regulatory and other approvals, and is expected to be finalized
within 60 days. Terms of the proposed agreement were not
disclosed.
Once complete, the acquisition will strengthen Metalsa's
position as a global automotive supplier of structural components
to the light and commercial vehicle markets and further expand its
customer base and global footprint into new regions.
Under the terms of the agreement, Metalsa, a subsidiary of Grupo
Proeza, will assume control of eight ISE Automotive manufacturing
facilities, including four in Germany, and one each in China, South
Africa, Turkey and the
United States. ISE Automotive's product portfolio includes
body and chassis modules, hinges and transmission components and
safety systems, which complement Metalsa's current business and
expand upon its manufacturing processes. In addition, Metalsa
will acquire ISE Automotive engineering centers in Germany and Hungary.
Overall, approximately 2,500 employees will join the Metalsa
organization as part of the arrangement. Metalsa currently
has 9,000 employees in Argentina,
Australia, Brazil, Germany, India, Japan,
Mexico, Thailand, Russia, the United
Kingdom, USA and
Venezuela.
"This strategic acquisition is a logical next step for Grupo
Proeza and Metalsa to reach its vision 2020 as we continue to
diversify our product portfolio and expand our operations
globally," said Enrique Zambrano,
CEO, of Grupo Proeza. "With the proposed acquisition, we will
expand our manufacturing footprint supporting our customers in key
automotive regions, while gaining technological capabilities to
support additional business on a global scale."
The acquisition is part of Metalsa's strategy for the business
and is in alignment with its current business, adding a
complementary product portfolio while leveraging each
organization's commitment to innovation, quality and customer
service within the global automotive components market.
"We look forward to integrating the talented ISE Automotive team
into the Metalsa family, and are confident that we will have a
bright future together as we move forward to better serve our
customers," said Leopoldo Cedillo,
CEO, Metalsa. "Additionally, we expect to receive explicit
support from current ISE customers to finalize the acquisition
process."
About Metalsa S.A. de C.V.
Metalsa, a subsidiary of Grupo Proeza, manufactures structural
components for the light and commercial vehicle markets. Products
include chassis frames and body structural stampings and assemblies
for passenger cars and light trucks as well as chassis frames, side
rails and crossmembers for heavy trucks and buses. The Company has
presence in Argentina,
Australia, Brazil, Germany, India, Japan,
Mexico, Thailand, Russia, USA,
Venezuela and a joint venture in
the United Kingdom. Metalsa
distinguishes itself by offering quality, differentiated service
and innovation, competitiveness and customization to each customer.
Founded in 1956, Metalsa has approximately 9,000 employees
globally. For additional information, please visit
http://www.metalsa.com
About Grupo Proeza
Grupo Proeza is a privately-held Mexican group with three
businesses: Metalsa, Citrofrut and Zanitas. Its corporate
headquarters are located in Monterrey,
Mexico and it employs 11,000 people. The Group has a global
presence and provides services and sells its products around the
world. For additional information, please visit
http://www.proeza.com.mx.