STUTTGART, Germany — The Stuttgart-based MAHLE Group has acquired the total shares of Clemex Mexico S.A. de C.V. and its subsidiaries in Lerma, Mexico.
The company, which will continue to operate under the name Clemex Mexico S.A. de CV until early 2009 when it is merged into the MAHLE Group, produces engine bearings and bushings for the automotive aftermarket and global automotive OE manufacturers.
The company employs approximately 400 people and achieved sales of $16 million in 2007. All employees will be taken over to MAHLE.
Prof. Dr. Heinz K. Junker, chairman of the management board of the MAHLE Group, said, "This acquisition allows us to complete the restructuring of our U.S. bearings business and will significantly improve our North American bushings business. It gives us a platform for further growth in the North American light duty engine bearings market as a producer of high quality products at reasonable costs."