LISI AUTOMOTIVE continues its development with the acquisition of the assets of the American company Hi-Vol Products
Veröffentlicht am 14 September 2018
LISI Group announces the signing of an agreement with ARCH Global Precision LLC for the acquisition of 100% of the assets of HiVol Products LLC, a leading US manufacturer of mechanical safety components for the automotive industry with a recognized expertise in brake system fitting screws and components for direct injection petrol engines.
Established in 1951, Hi-Vol Products has experienced significant growth in recent years by developing stainless steel distribution components for the new generation of direct injection gasoline engines. It now has two production sites in Livonia (Michigan, USA) with strong skills in cold forging, machining and high speed automatic control. With approximately 130 employees, it achieved a turnover of nearly 40 million dollars in 2017.
"With Hi-Vol Products, LISI AUTOMOTIVE strengthens its global position in mechanical safety components. The two Livonia sites will reinforce the LISI AUTOMOTIVE Safety Mechanical Components Business Group, already present in Europe, China and Mexico. This acquisition will allow us to accelerate our development in the United States and benefit from a strong technical base in North America."said François LIOTARD, CEO of LISI AUTOMOTIVE.
This operation remains subject to the realization of the usual closing conditions. It should be finalized by the end of September. The assets of Hi-Vol Products LLC will be incorporated into LISI AUTOMOTIVE Hi-Vol established in the United States.