Mahle buys Mexican bearings supplier

By: Stephen Downer
MEXICO CITY -- German piston systems maker Mahle has acquired Mexican engine bearings and bushings manufacturer Clemex Mexico SA de CV and its subsidiaries for an undisclosed sum.
 
Clemex supplies global vehicle and aftermarket parts manufacturers. The supplier employs about 400 workers and posted 2007 sales of $16 million. All employees will be put on the Mahle payroll, the German company said Monday.
 
Clemex will retain its name until early 2009, when it will be merged into Mahle.
 
The acquisition completes the restructuring of Mahle's U.S. bearings operations and will "significantly improve" its North American bushings business, Chairman Heinz Junker said in a statement.
 
"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."
 
Mahle, of Stuttgart, says it is among the world's top three suppliers of cylinder components and piston, valvetrain, air management and liquid management systems.
 
In North America, Mahle Inc. ranks No. 46 on the Automotive News list of the top 150 suppliers, with estimated parts sales to automakers of $1.30 billion in its 2007 fiscal year.
 
Globally, Mahle employs 48,000 workers at 110 plants and seven r&d centers. It posted total revenue of about $7.5 billion in 2007. Clemex's headquarters are in Lerma, close to Mexico City.
From: Automotive News Europe

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