PULASKI, Tenn. — Magneti Marelli SpA, through its Farmington Hills, Mich., subsidiary, Magneti Marelli Suspensions USA, has acquired the International Steel Solutions LLC plant in Pulaski, Tenn. Specific terms of the transaction were not disclosed.
International Steel Solutions is a subsidiary of International Steel Solutions Holdings, a private operating company based in Southfield, Mich, which acquires, manages and develops portfolio companies in the industrial and automotive markets.
Magneti Marelli said it intends to use this facility to continue manufacturing shock absorbers and related suspension parts. The company 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.
Part of the Fiat Group, Magneti Marelli designs and produces advanced systems and components for the automotive industry. 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.