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Article: Shopping spree; GDX buys sealing, molded goods sites from SaarGummi.(GDX Automotive)
- Article from:
- Rubber & Plastics News
- Article date:
- May 2, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Brad Dawson
GDX Automotive has acquired the Canadian and Mexican vehicle sealing, molded rubber products and glass encapsulation segments of Germany's SaarGummi GmbH.
The purchase boosts GDX's annual sales by about $80 million and expands its customer base measurably. The terms of the transaction, which closed April 18, weren't disclosed.
GDX said it acquired five plants in the Magog/Sherbrooke area of Quebec, about 70 miles east of Montreal, and a factory near Guadalajara, Mexico.
Buschfeld, Germany-based SaarGummi decided to sell these units as part of a consolidation of operations to Europe, South America and Asia, where it ...