MAHLE acquires Clemex Mexico S.A. de C.V
Stuttgart, June 9, 2008—The MAHLE Group announced today that MAHLE acquired the total shares of Clemex Mexico S.A. de C.V. and its subsidiaries in Lerma, Mexico.
The company, which will continue to operate under the name Clemex Mexico S.A. de CV until early 2009 when it is merged into the MAHLE Group, produces engine bearings and bushings for the automotive aftermarket and global automotive OE manufacturers.
The company employs approximately 400 people and achieved sales of USD 16.0 million (approx. EUR 10.3 million) in 2007. All employees will be taken over to MAHLE.
Prof. Dr. Heinz K. Junker, Chairman of the Management Board of the MAHLE Group, states: "This acquisition allows us to complete the restructuring of our U.S. bearings business and will significantly improve our North American bushings business. It gives us a platform for further growth in the North American light duty engine bearings market as a producer of high quality products at reasonable costs."
The MAHLE Group is one of the 30 largest companies in the automotive supply industry worldwide. As a leading manufacturer of components and systems for the combustion engine and related products, MAHLE ranks among the top 3 systems suppliers for piston systems, cylinder components, valve train systems, air management systems, and liquid management systems. MAHLE employs around 48,000 people at 110 production plants and seven research and development centers. In 2007, MAHLE achieved sales of over EUR 5 billion (USD 7.5 billion).