Tritech buys stake in Brazil auto parts firm

Article Abstract:

Tritech Precision Inc., an auto parts manufacturer, will acquire 65% of Mercedes Benz do Brasil unit, Magal Industrial e Comercio Ltda. Tritech, which is entering into the joint venture through its Amcan Castings Ltd. operation, will invest approximately C$15 million in cash and by way of equipment purchases to keep its stake in the venture. The joint venture, in which Mercedes will own 35%, is expected to manufacture aluminum and magnesium engine and transmission parts for Mercedes and other auto makers. The venture boasts of using high-pressure die casting technology to produce the aluminum and magnesium auto parts. The entry into the Brazil market is part of Tritech's move to strengthen its business worldwide.

Comment:

Will acquire 65% of Mercedes Benz do Brasil unit, Magal Industrial e Comercio Ltda, through its Amcan Castings Ltd unit

Asset sales & divestitures, Acquisitions & mergers, Gasoline Engine and Engine Parts Manufacturing, Brazil, Auto Gasoline Engines & Engine Parts, Tritech Precision Inc., Article, Mercedes-Benz do Brasil S.A.

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Big three in Canada redefined as Honda tops Ford: Japanese firm cranking out cars

Article Abstract:

Ford Motor Co. of Canada Ltd. would drop out of third position in vehicle production in Canada and be displaced by Honda of Canada Mfg in 2004. Union and industry officials predict that Ford's Oakville Assembly Plant is expected to splash production dramatically from year-earlier levels in the first half of 2005.

Canada, Production management, Motor vehicle parts and accessories, Automobile equipment and supplies industry, Automotive parts industry, Rankings, Ford Motor Company of Canada Ltd.

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