Release time : 2015-06-15 08:37:50
Mahle GmbH (Germany) has acquired Clevite Mexico SA de CV (Clemex; Mexico) and its subsidiaries.
Founded in 1959, Clevite de Mexico is Mexico's largest manufacturer of engine Water Pump Bearings, bushings and gaskets, under the Clemex brand. ISO9002 and QS9000 certified, customers include OEMs such as GM, Ford, Chrysler, Mercedes and Nissan, along with a strong aftermarket presence worldwide.
The company reportedly posted 2007 sales of approximately USD $17 million and employs 400 workers. Its plant is in Lerma.
Clevite Mexico's President, Ricardo Vidale, was involved in the original NAFTA negotiations and is participating in Central and South America free trade negotiations.
The company will be absorbed into Mahle and renamed Mahle Mexico in 2009.
Clevite Mexico was once part of the original Clevite Needle Ball Bearings manufacturing organization which, after spinoffs and sales, has come under Mahle, and Mahle's Clevite branded products. The other largest remaining piece of Clevite is owned by Daido.
Mahle acquired the Clevite bearing business from Dana in 2006.
Even as it made the acquisition, Mahle warned the Dana engine bearing plants faced significant challenges, and likely restructuring.
Earlier this year, Mahle announced plans to close its underutilized thin wall High Speed Bearings plant in Caldwell, Ohio by the end of 2009. Approximately 330 workers will lose their jobs.
Announcing the Caldwell move, Dan Moody, Mahle's Bearing Product Group VP, said: "A decision to close an operation is an extremely difficult one, and we regret the impact upon our affected employees. However, this is a necessary strategic business decision that will realign our investment and capacity to enhance the long-term competitiveness and performance of our bearings business."
Of the Mexican acquisition, Mahle's Management Board Chair, Heinz Junker, said: "This acquisition allows us to complete the restructuring of our US bearings business and will significantly improve our North American bushings business. It gives us a platform for further growth in the North American light duty engine bearings market as a producer of high quality products at reasonable costs."
Mr. Junker did not go into detail about how the Clevite Mexico operations will inherit or supplant Mahle's other thinwall bearing manufacturing operations in the U.S.