ROCHESTER HILLS, MI — DURA Automotive Systems has completed the sale of its North American jack and tool kit business to automotive supplier Autoline Industries Ltd. DURA had earlier announced plans to sell the business as part of a corporate restructuring program.
DURA’s jack and tool kit business has one U.S. plant located in Butler, IN, where it employs approximately 140 people. With annual revenues of approximately $25 million, business produces automotive bottle jacks, scissor jacks and related products for automotive jack tool kits. The jack and tool kit business’ capabilities also include metal stamping, and powder coat paint and assembly.
”The business has contributed nicely to DURA and offers attractive growth prospects,” said Larry Denton, chairman and chief executive officer of DURA. “Selling this business will bring DURA closer to achieving the company’s restructuring goals.”
Customers of DURA’s jack and tool kit business include General Motors, Nissan, Ford and Honda, among others.
Based in India, Autoline manufactures various auto parts, sheet metal components, silencers and exhaust systems for passenger cars, sports utility vehicles, commercial vehicles, two wheelers, three wheelers and tractors.
“This is our second strategic acquisition in the United States this year and now provides us with a manufacturing location that complements our global engineering center in Troy, MI, and our existing manufacturing locations in India,” said Gopal Patwardhan, chairman of Autoline. “We are excited with the enhanced ability to service our global automotive and non-automotive customers.”
