LISI Group becomes sole owner of US company TERMAX LLC
Published on 02 July 2020
LISI Group announces the signing of an agreement to acquire the remaining 49% of TERMAX LLC’s equity. This transaction, initially planned for the first quarter 2021, enables LISI Group to become the sole owner of TERMAX LLC as of July 1st 2020.
"With TERMAX LLC, LISI AUTOMOTIVE has extended its global footprint in clip-fastening solutions in a lasting manner. The commercial and industrial synergies between our Clipped Solutions Business Group and Termax will continue to bear fruit. They will allow us to bring to a wider customer base the best development and production capabilities to offer innovative solutions in the areas of weight reduction, electrification and autonomous vehicle equipment", said François LIOTARD, Chief Executive Officer of LISI AUTOMOTIVE.
For our customers in North America and our employees, Termax will continue to operate under the Termax brand and under current management 100%, whilst being 100% part of LISI AUTOMOTIVE and able to offer the full range of Clipped Solutions products to its customers in North America and worldwide.
For more information on the combined range of clip products, view our automotive clip catalog here.