Noble International to Purchase Laser Welding International
Noble International has signed a purchase agreement to acquire Laser Welding International Inc. (LWI). LWI, based in Clinton Township, Mich., is a supplier of laser-welded blanks (LWB) to General Motors. According to Noble’s COO Tim Emmitt, the acquisition of LWI will help expand Noble’s presence with General Motors. The company plans to integrate LWI into Noble Metal Processing over the next several months, Emmitt said.
Keystone Automotive Acquires Toronto-Based Quinte Bumper & Fender
Keystone Automotive Industries has acquired Quinte Bumper & Fender, a privately held company based in Ontario, Canada, that distributes automobile collision replacement parts. Quinte recorded sales of approximately $6.5 million during its most recent fiscal year. Terms of the transaction were not disclosed. The acquisition is a continuation of Keystone’s strategy to expand throughout Canada, according to Charles Hogarty, president and CEO of Keystone.
Universal Automotive Acquires Three Brands from TRW Automotive’s Kelsey-Hayes Subsidiary
Universal Automotive has purchased several business assets of TRW Automotive’s Kelsey-Hayes subsidiary. The Livonia, Mich.-based businesses sold for $11 million in cash plus additional contingent payments. Universal has acquired the Autospecialty, ValuMaxx and Power Stop brands from Kelsey-Hayes. It also has entered into a licensing agreement for the use of the TRW trademark for premium quality brake rotors and drums and a supply agreement for TRW suspension products.
Thomas Group Names New CEO
Professional services firm Thomas Group has named James “Jim” Taylor CEO and president of the company, effective Jan. 13. Taylor succeeds John Hamann as CEO. For the last three years, Taylor has served as Thomas Group’s executive vice president and CFO. He has been credited for successfully returning Thomas Group to profitability following the 2001 consulting industry downturn and global recession. Taylor will remain CFO on an interim basis while assuming his new responsibilities.
Roush Acquires Mountune Racing
As part of its strategy to expand its European engineering operations Roush has acquired England-based Mountune Racing Limited. The company said this acquisition will also address the growing demand for small-displacement, high-performance engines in the U.S. Mountune Racing will become a wholly owned division of Roush, and will be located within Roush’s Brentwood, England, facility.
Metaldyne Completes Purchase of New Castle Machining and Forge
The transfer of full ownership of New Castle Machining and Forge to Metaldyne Corp. is now complete. Since January 2003, the New Castle operation has been managed as a joint venture between Metaldyne and DaimlerChrysler. The transfer of ownership represents Metaldyne’s final step in the acquisition of New Castle Machining and Forge, according to Thomas Amato, Metaldyne’s vice president of corporate development.