NEW YORK -- The Renco Group’s wholly owned subsidiary, Inteva Products, LLC, has completed its acquisition of Delphi's Global Interiors and Closures businesses. The transaction includes the entire book of business, manufacturing operations, intellectual property, supplier contracts and joint venture interests.
Under the terms of the transaction, Delphi's Global Interiors and Closures businesses and its workforce will now become part of Inteva. Inteva is a global engineering and manufacturing company offering interior and closure solutions for vehicles ranging from entry level compacts and luxury sedans to pick-ups and commercial vehicles. Inteva has 17 facilities on three continents, and more than 90 years of product experience.
Ira Rennert, founder and chief executive officer of Renco, commented, "Under the strong leadership team led by Inteva CEO Lon Offenbacher, we are excited by the opportunity this acquisition has presented to invest in a low-cost automotive supplier with global growth opportunities. Inteva's engineering, design and manufacturing capabilities and global footprint position the company well for long-term profitable growth."
For more information about Inteva, visit: http://www.intevaproducts.com.