Chassix Completes Acquisition of BENTELER Automotive Farsund's Lightweight Aluminum Low Pressure Casting Business

SOUTHFIELD, Mich., March 21, 2018 /PRNewswire/ -- Chassix, Inc., a global automotive supplier of safety-critical casting and machining solutions, today announced that it has completed the previously announced acquisition of BENTELER Automotive Farsund's lightweight aluminum low pressure automotive casting business. BENTELER Automotive Farsund's casting business consists of a highly automated aluminum foundry in Farsund, Norway, designing and producing safety critical, lightweight aluminum structural castings.

"We are pleased to have completed our acquisition of the Bentler Automotive Farsund business, as this acquisition accelerates our vertical integration in Europe, provides customer and product diversification and further enhances our technical capabilities in our business," said Doug DelGrosso, Chassix's President and CEO. "We welcome the Farsund team to Chassix and look forward to working collaboratively to continue to provide high quality, innovative products to our collective customers."

For BENTELER, the decision to sell BENTELER Automotive Farsund was the result of an in-depth analysis of the company's business portfolio. BENTELER will continue to develop lightweight solutions for its customers. Doing so, BENTELER will leverage its in-house core business of steel and aluminum processing based on more than 140 years of experience. When needed, BENTELER will source aluminum casting products through the cooperation with external partners such as Chassix. CEO Laurent Favre explains: "The automotive market is rapidly changing. Our ability to anticipate trends and to offer relevant solutions for upcoming opportunities will be key to our companies' success. The divestment of the BENTELER Automotive plant in Farsund will allow us to further develop our core business." Hence, BENTELER will continue to develop electric mobility and provide full system solutions which automotive customers increasingly outsource. At the same time, BENTELER will keep on investing into growing markets such as China and will leverage future trends such as digitalization and cooperation with start-ups.

The Farsund business will operate under the name Chassix Norway AS.

About Chassix:
Headquartered in Southfield, Michigan, Chassix is a leading global, vertically integrated manufacturer of aluminum and iron cast and machined chassis, powertrain and sub-frame automotive components, forming strength in the industry by providing tailor-made engineering and manufacturing solutions for safety-critical products through strong, long standing customer relationships with our innovative and collaborative global teams uniquely positioned to capitalize on adjacent markets and light weighting industry trends.

Chassix had 2016 sales of $1.2 billion. It operates 23 manufacturing facilities and 4 technical centers in 7 countries, employing more than 4,000 people.

About BENTELER
BENTELER is a leading global company that develops, produces and sells products, systems and services for the automotive, energy and engineering sectors. We are a family-owned firm now in the fourth generation. Our 30,000 employees at 153 locations in 40 countries are passionate about excellence in manufacturing and distribution - in close proximity and collaboration with our customers. Sales in 2016 amounted to 7,423 Million Euros.

The three Business Divisions BENTELER Automotive, BENTELER Steel/Tube and BENTELER Distribution are organized under the strategic management holding company BENTELER International AG in Salzburg, Austria. With our technological expertise and strong focus on successful implementation, we develop solutions that make the difference – for customers, employees and society. And we make them happen.

BENTELER. The family of driven professionals. Since 1876.

About BENTELER Automotive
BENTELER Automotive is the strategic development partner for automotive manufacturers with a high level of innovation skills and problem-solving expertise. With about 24,000 employees and 72 plants in 25 countries, we develop tailored solutions for our customers: Our products include automotive system solutions and modules for chassis, body, engine and exhaust systems as well as systems for electric vehicles.

SOURCE Chassix, Inc.