-- Integration begins immediately to combine capabilities and serve new customers
MONTERREY, Mexico, May 6, 2013 /PRNewswire/ -- 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."
About Metalsa S.A. de C.V.
Metalsa, a subsidiary of Grupo Proeza, manufactures structural components for the light and commercial vehicle markets. Products include light duty frames, space frames, suspension modules, body structures, safety systems, hinges, transmission modules and fuel tanks for passenger cars and light trucks as well as chassis frames, side rails and crossmembers for heavy trucks and buses. Founded in 1956, the company has presence in Argentina, Australia, Brazil, China, Germany, Hungary, India, Japan, Mexico, Russia, South Africa, Thailand, Turkey, United States, Venezuela and a joint venture in the United Kingdom. Metalsa distinguishes itself by offering quality, differentiated service and innovation, competitiveness and customization to each customer. With the acquisition, Metalsa has approximately 11,000 employees globally. For additional information, please visit http://www.metalsa.com.
About Grupo Proeza
Grupo Proeza is a privately-held Mexican group with three businesses: Metalsa, Citrofrut and Zanitas. Its corporate headquarters are located in Monterrey, Mexico and it employs 13,000 people. The Group has a global presence and provides services and sells its products around the world. For additional information, please visit http://www.proeza.com.mx.
SOURCE Metalsa, S.A. de C.V.