Tower Automotive, Inc. (NYSE: TWR) announced today that it has completed the acquisition of the remaining 60 percent equity interest in Metalurgica Caterina S.A. (“Caterina”), a supplier of structural stampings and assemblies to the Brazilian automotive market. This remaining interest was acquired for consideration of approximately $42 million. Tower Automotive acquired the initial 40 percent equity interest in Caterina in March 1998.
Tower Automotive, Inc., produces a broad range of assemblies and modules for vehicle structures and suspension systems for the automotive manufacturers, including Ford, DaimlerChrysler, GM, Honda, Toyota, Nissan, Auto Alliance, Fiat, BMW and Volkswagen. Products include body structural assemblies such as pillars and package trays, control arms, suspension links, engine cradles and full frame assemblies. The company is based in Grand Rapids, Mich., and has its corporate office in Minneapolis, Minn.
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