TROY, MI — ThyssenKrupp Budd has completed the sale of its North American automotive body and chassis operations to Martinrea International of Vaughan, Ontario, Canada. Martinrea, a Tier 1 automotive supplier, produces metal parts, assemblies, modules and fluid management systems. The transaction was announced October 16.
The purchase price was $275 million, including $95 million in cash and the remainder in assumed liabilities. Annual sales from the sold operations were approximately $1.25 billion. The names of the sold facilities will be changed to reflect Martinrea ownership.
Plants affected include those in Hopkinsville and Shelbyville, KY; Kitchener, Ontario, and Hermosillo, Mexico. In addition, six plants operated by ThyssenKrupp Fabco and three operated by ThyssenKrupp Budd Systems were part of the transaction.
The Hopkinsville plant produces chassis frame modules, components and suspension assemblies. The Kitchener facility builds full sized chassis frames and frame components, bumpers and bumper reinforcements. The Shelbyville plant produces sheet metal automotive body stampings and assemblies, such as doors and fenders. The Hermosillo facility assembles chassis products, such as engine cradles.