Southfield-based Chassix Inc., a global automotive supplier of precision casting and machining solutions, today announced the signing of a definitive agreement to acquire Benteler Automotive Farsund’s lightweight aluminum low pressure automotive casting business.
The company’s casting business consists of a highly automated aluminum foundry in Farsund, Norway where aluminum structural castings are designed and produced.
“The acquisition of Benteler Automotive Farsund’s casting business accelerates our vertical integration in Europe, provides customer and product diversification, and further enhances our technical capabilities in our core business,” says Doug DelGrosso, president and CEO of Chassix. “The Farsund business is strategically aligned with the Chassix growth plan and provides a strong team to further develop our core competencies of casting and machining chassis, powertrain, and sub-frame solutions for global customers.”
Benteler Automotive’s casting facility produces safety critical components including sub frames, swing arms, steering knuckles, and rear hubs for luxury brand automotive customers. The company currently employs approximately 275 employees, including an experienced management and technical team.
Following the acquisition, Benteler will continue to develop lightweight solutions to support automotive trends and leverage its in-house knowledge of steel and aluminum processing based on 141 years of experience. When necessary, the company will source aluminum casting products through cooperation with external partners.
An approval of anti-trust authorities is not required, but several conditions regarding customer and supplier contracts still need to be completed before the transfer can be effected.