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Article: MSX International buys stake in Warren tool, design company.(MSX International acquires minority stake in MTE Groups L.L.C.)(Brief Article)
- Article from:
- Crain's Detroit Business
- Article date:
- May 14, 2001
- Author:
CopyrightCOPYRIGHT 2001 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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MSX International Inc. this spring acquired a minority stake in the Warren tooling and design company MTE Groups L.L.C. but says it has no current plans to take a majority stake in the company.
Auburn Hills-based MSX, a major international contract engineering company, on March 29 announced that it had acquired an undisclosed minority interest in MTE. But David Crittenden, MSX's director of corporate development, said a move to gain a majority stake in MTE is a remote possibility.
In the past, MSX has acquired minority interests in companies and in some cases later secured majority stakes. This was the case in 1999 when MSX acquired a 30 percent stake in ...