ThyssenKrupp Budd Company has sold its one-third interest in Aventec, Aventec Mexicana and Aventec Ramos Arizpe, 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.
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Aventec, formed in 1998, designs and manufactures sheet metal stampings and assemblies, such as doors and bonnets (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.
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