BOUCHERVILLE, Quebec — Spectra Premium Industries Inc. (SPI), a North American manufacturer of automobile, light-truck and heavy-duty truck aftermarket parts, has completed its acquisition of a 90 percent of interest in Trimag, L.P. Investissement Quebec will own the other 10 percent of interest in Trimag.
Trimag is a North American manufacturer of high-pressure die cast magnesium alloy parts used in the automotive industry. The company, which employees approximately 150 people, has two plants, one in Boisbriand, Quebec, which began operations in 2002, and the other in Haley, Ontario.
According to Jacques Mombleau, president and CEO of SPI, the acquisition should enable the company to increase annual sales by more than $50 million with original equipment manufacturers for fiscal year 2005-2006.
Spectra said the acquisition of Trimag will have not have much of an impact on SPI’s net income for the current fiscal year, but should however contribute favorably to the consolidated results of SPI as of fiscal 2005-2006, as new contracts entering into production by the end of year 2004 will increase the utilization rate of both plants. The Boisbriand plant is expected to operate at full capacity as of the summer of 2005, as a new supply contract for instrument panel beams for a General Motors plant located in China will have entered into production.
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