Magneti Marelli Expands North American Presence in Pulaski, Tennessee
PULASKI, Tenn., Jan. 18 /PRNewswire/ -- Magneti Marelli, SpA, through its subsidiary, Magneti Marelli Suspensions USA, LLC, located in Farmington Hills, MI, announced today that it has acquired the International Steel Solutions, LLC plant in Pulaski, Tennessee. Specific terms of the transaction were not disclosed. Magneti Marelli intends on using this facility to continue manufacturing shock absorbers and related suspension parts. Magneti Marelli will be hiring a significant number of the current employees at the Pulaski facility, and has committed to increase those numbers in the next two years as it grows the business and expands the product line. The addition of this plant will allow Magneti Marelli to take advantage of the trained talent and skills of local workers, while giving the Company an opportunity to increase its North American product line and distribution facilities.
Magneti Marelli designs and produces advanced systems and components for the automotive industry. With 67 production facilities (80 production units), 10 R&D centers and 28 application centers in 18 countries, 33,000 employees and a turn over of 5.4 billion Euros in 2008, the group supplies all the leading carmakers in Europe, North and South America and the Far East. Its business areas include: powertrain, lighting, electronic systems, suspensions and shock absorber systems, exhaust systems, aftermarket parts and services, plastic component and modules, and motorsport. Magneti Marelli is part of the Fiat Group.
International Steel Solutions, LLC is a subsidiary of International Steel Solutions Holdings, LLC, a private operating company based in Southfield, MI. which acquires, manages and develops portfolio companies in the Industrial and Automotive markets.
SOURCE Magneti Marelli