The Stuttgart-based MAHLE
Group has 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
$16 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, said, "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."