In April 2011, a subsidiary of Tower International acquired substantially all of the assets of W Industries. The Transaction was consistent with Tower International’s strategy to expand into the defense, aerospace, and industrial markets.
W INDUSTRIES, INC.
W Industries, Inc. (“W Industries” or the “Company”) founded in 1981 and based in Detroit, MI, is a leader in the engineering, cutting, forming, machining, welding, finishing and assembly of complex metal components, structures and systems for the defense, aerospace, automotive, industrial products and energy markets. W Industries generated approximately $65 million of revenue in 2010 and employs over 250 individuals.
TOWER INTERNATIONAL, INC.
Tower International, Inc. (“Tower International”) (NYSE: TOWR) operates as an integrated manufacturer of engineered structural metal components and assemblies to automotive original equipment manufacturers (OEMs) worldwide. It provides body-structure stampings, frames, and other chassis structures, as well as welded assemblies for small and large cars, crossovers, pickups, and sport utility vehicles.