Metalsa Finalizes ISE Automotive Acquisition
Integration begins immediately to combine capabilities and serve new customers
MONTERREY, Mexico--May 6, 2013: Metalsa, S.A. de C.V., a subsidiary of Grupo Proeza, today announced the company has finalized its acquisition of ISE Automotive from Nordwind Capital. Terms of the agreement were not disclosed.
The acquisition strengthens Metalsa's position as a global supplier of structural components for the automotive and commercial vehicle markets and enhances the company's strong operations and manufacturing capabilities with new processes and competencies. It includes eight manufacturing facilities and two engineering centers, bringing Metalsa's global operational footprint to 16 countries and providing growth opportunities with several new customers.
The integration also expands Metalsa's business into new regions, including China, Hungary, Germany, Turkey and South Africa, and strengthens its presence in the United States.
Integration of the two companies, which begins immediately, brings ISE Automotive's robust product offering, including body and chassis structures and modules, hinges and transmission components and safety ROPS systems into Metalsa's product portfolio, complementing its current business with automotive and commercial vehicle manufacturers. The integration will combine best practices from both organizations to serve Metalsa's newly expanded customer base.
"We appreciate the support of our new and existing customers as we combine our organizations," said Leopoldo Cedillo, Metalsa CEO. "This acquisition provides a number of new opportunities for our customers in the global automotive and commercial vehicle industries."
The acquisition is of strategic value for Metalsa's long-term business plan, leveraging its global commitment to innovation, quality and customer service to reach its Vision 2020.
Approximately 2,500 ISE employees join the Metalsa organization, expanding the Metalsa team to more than 11,000 employees in nearly every major automotive market worldwide.
"We are excited to welcome all the new team members to our Metalsa family and to introduce a new, stronger Metalsa to our customers," said Cedillo. "We will integrate our collective talent, know-how and capabilities to provide added value and experience to new and existing customers moving forward."