Metalsa Finalizes Purchase of Dana's Structural Components Business
Purchase strengthens Metalsa's position as a top global supplier of structural components to the automotive and commercial vehicle markets
MONTERREY, Mexico, March 8 /PRNewswire/ -- Metalsa, S.A. de C.V., a subsidiary of Grupo Proeza, has announced that it has finalized the purchase of several facilities included in the structural products business of Dana Holding Corporation (NYSE: DAN). The acquisition, announced in December 2009, increases Metalsa's position as a top supplier of structural components for light and commercial vehicles in the global market with manufacturing facilities and operations in key automotive regions globally.
"This is a significant step forward in our strategic growth," said Leopoldo Cedillo, CEO, Metalsa. "By combining the existing talent, innovation and reach of these organizations we see opportunities to expand globally within current and emerging automotive markets and strengthen our relationships with each of our existing and potential customers."
Today Metalsa has assumed control of 9 Dana manufacturing facilities that produce structural components for chassis and body structures in light and commercial vehicles, including accompanying administrative, technical and sales centers in Argentina, Australia, Brazil and the USA. The facility in Venezuela will be transferred pending government approvals from the Venezuelan government, expected to close by the second quarter of 2010. The purchase also includes Dana's interest in its Chassis Systems Limited joint venture in the United Kingdom with GKN Auto Structures.
Combined, the new organization includes 6,300 global employees and will have 16 manufacturing facilities and offices in key automotive regions of Asia, Australia, North and South America and Europe.
"We have a clear vision to be one of the world's top suppliers of structural components for light and commercial vehicles and this acquisition is a positive step forward in our strategic long-term growth," said Enrique Zambrano, CEO, of Grupo Proeza. "We look forward to welcoming our new team members into Metalsa and to continuing our strong cultural values, focus on innovation, quality and service to our global automotive customers."
Metalsa, a subsidiary of Grupo Proeza, manufactures structural components for the light and commercial vehicle markets. Products include chassis frames and body structural stampings and assemblies for passenger cars and light trucks as well as side rails and cross members for Class 5-8 commercial vehicles. The Company has presence in Argentina, Australia, Brazil, Canada, India, Japan, Mexico, USA, and the United Kingdom. Metalsa distinguishes itself by offering quality, differentiated service and innovation, competitiveness and customization to each customer. Founded in 1956, Metalsa has 6,300 employees. For additional information, please visit http://www.metalsa.com.mx.
Grupo Proeza is a privately-held Mexican group with five main business areas: Automotive, Foundry, Juices and Fruits, Information Technology and Health Care. Its corporate headquarters are located in Monterrey, Mexico and it employs 8,000 people. The Group has a global presence and provides services and sells its products around the world. For additional information, please visit http://www.proeza.com.mx
Dana is a world leader in the supply of axles; driveshafts; and structural, sealing, and thermal-management products; as well as genuine service parts. The company's customer base includes virtually every major vehicle manufacturer in the global automotive, commercial vehicle, and off-highway markets. Based in Maumee, Ohio, the company employs approximately 24,000 people in 26 countries and reported 2009 sales of $5.2 billion. For more information, please visit: www.dana.com.
SOURCE Metalsa, S.A. de C.V.
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