Dura Automotive Systems, Inc. has sold its Gordonsville, TN seat mechanism and hood latch operation to Magna International, Inc.
THE TRANSACTION
On May 29th, 2009, Dura sold its automotive seat mechanism and hood latch operation located in Gordonsville, TN along with supporting equipment from its Stockton, IL facility (the “Company”) to Magna. The Company designs, engineers, and manufactures seat tracks, seat adjuster mechanisms, seat recliner mechanisms, hood latches, and other components sold into the North American automotive market. These products are complex mechanical assemblies for which the Company has proprietary designs and has customized efficient, vertically integrated, and automated manufacturing processes.
Our Client
DURA AUTOMOTIVE SYSTEMS, INC.
Dura Automotive Systems, Inc. (“DURA”) is a leading independent designer and manufacturer of shifter and cable systems, seating control systems, engineered assemblies, structural and safety systems, modular glass systems and exterior trim systems for the global automotive industry. DURA is headquartered in Rochester Hills, Michigan, USA with over 9,000 employees and 33 locations worldwide.
Transaction Partner
MAGNA INTERNATIONAL, INC.
Magna International, Inc. (“Magna”) designs, develops and manufactures technologically advanced systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers ("OEMs") of cars and light trucks. Magna’s capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; as well as complete vehicle engineering and assembly. With approximately 70,000 employees in 240 manufacturing operations and 86 product development, engineering and sales centers in 25 countries, Magna is one of the most diversified global automotive suppliers.
CONTACT
Automotive & Truck
Automotive & Truck
RECENT DPP TRANSACTIONS
