US: ThyssenKrupp Budd Company sells castings operations
Automotive industry supplier ThyssenKrupp Budd Company has announced the sale of its aluminium castings operations as part of a restructuring plan announced earlier this year.
ThyssenKrupp Stahl Company, a subsidiary which produces aluminium castings at foundries in Kingsville and Warrensburg, Missouri, has been sold to an equity holding concern. The sale price was not disclosed. ThyssenKrupp Stahl employs 813 people.
The sale is in line with restructuring plans ThyssenKrupp of Germany announced for its North American automotive segment.
Speyside Equity, a Delaware company, now owns the stock of ThyssenKrupp Stahl as well as other industrial investments.
ThyssenKrupp Budd currently supplies approximately 100 vehicle models with sheet metal stampings and assemblies, composite body panels and pickup boxes, chassis modules and sub-frames, bumpers and bumper reinforcements.
ThyssenKrupp Budd operates 30 facilities with around 10,000 employees in North America.