Hayes Lemmerz Completes Acquisition of Metaalindustrie Bergen B.V.
23 April 1999
Hayes Lemmerz International Completes Acquisition of Metaalindustrie Bergen B.V., a World Class Machining Supplier in The NetherlandsROMULUS, Mich., April 22 -- Hayes Lemmerz International, Inc. , the world's largest supplier of wheels as well as brake and suspension components to the transportation industry, today announced that its subsidiary Metaalgieterij Giesen B.V. (MGG) has successfully completed the acquisition of Metaalindustrie Bergen B.V. (MIB). Terms of the transaction were not disclosed. The acquisition is expected to expand Hayes Lemmerz's machining capacity in Europe and to enable MGG to grow its business in finished aluminum cast products for the automotive, heavy truck and heating industries. MIB is a full service machining supplier, specializing in the machining of large aluminum castings for a variety of automotive and industrial applications and is located in Bergen, Netherlands. MIB has 24 state-of-the- art machining centers at its 40,000-square-foot manufacturing facility and has approximately 100 employees. "This is an important strategic step for MGG," said Harrie Giesen, Managing Director of MGG in making the announcement. "With the acquisition of MIB, we now have expanded in-house manufacturing capability and capacity to provide our customers finished machined castings." This world class operation provides a strong base for expansion as we grow MGG sales, as well as sales of other Hayes Lemmerz aluminum products in Europe." Hayes Lemmerz International, Inc., with the completion of its acquisition of CMI International, is one of the world's leading global suppliers of automotive and commercial highway wheels, brakes, suspension, structural and other light weight components. Together, the company has pro forma sales of close to $2.5 billion with 40 plants, 10 joint ventures and over 15,000 employees worldwide. For more information about Hayes Lemmerz International, please be sure to visit the web site at http://www.hayes-lemmerz.com. CONTACT: Bill Shovers of Hayes Lemmerz International, 734-941-2000; or Peter Collins of Rubenstein Associates, 212-843-8050, for Hayes Lemmerz International, Inc.