CIE Automotive says it will purchase Inteva Roof Systems for US$755m on closing.
Inteva has more than 4,400 employees and had estimated 2018 sales at around US$1bn. The US supplier operates 16 sixteen manufacturing facilities and six R&D centres in seven different countries (US, Mexico, Germany, Slovakia, Romania, China and India).
Go deeper with GlobalData
Its customer portfolio includes main automotive OEMs, with a significant footprint of Chinese companies.
CIE said the deal would allow it to reinforce its commitment for comfort systems as well as increase its footprint in the sunroof segment, highlighting its complementarity on customers, geographies and products with Advanced Comfort Systems (ACS), the sunroof unit which CIE integrated in 2009.
“Inteva Roof Systems contributes to strengthening our style-aesthetics-and-comfort-oriented products portfolio, a segment with important growth perspectives, as well as to prove our bet and commitment to design, high technological level engineering, processes and products with high complexity,” said CIE CEO, Jesús María Herrera.
CIE added the transaction fits into its growth and diversification strategy outlined in the Strategic Plan 2016-2020.
