CIE Automotive has signed the acquisition of Newcor, Inc., a company specialised in the design and manufacture of high precision machined products for the automotive sector, including engine, powertrain and transmission components.
Headquartered in Rochester Hills, Michigan, Newcor Newcor operates three manufacturing facilities located in Clifford, Corunna and Owosso, Michigan (USA). Customers include automotive OEMs and Tier 1 suppliers, with a significant footprint in the US.
The transaction enables CIE Automotive to extend its technological and product portfolio in the United States of America, as well as to reinforce its footprint with strategic customers, all pursuant to the announced increased in automotive investments in such territory.
Jesús María Herrera, CIE Automotive CEO, “Newcor helps to strengthen CIE Automotive in the machining technology, which is a high demand technology in the NAFTA region and specially in the United States of America, an area with special growth potentialities”. The transaction fits into the growth and diversification strategy of CIE Automotive as outlined in the Strategic Plan 2016-2020.
Antón Pradera, CIE Automotive Chairman, “CIE Automotive believes in NAFTA as a whole and will use its investment flexibility to optimise resources and to offer the best possible solutions to our customers worldwide.”
