Shiloh Industries to Acquire Brabant Alucast Facilities in Verrés, Italy and Oss, Netherlands
February 07 2018 - 8:00AM
Shiloh Industries, Inc. (NASDAQ:SHLO), a leading global supplier of
lightweighting, noise and vibration solutions, has entered into two
definitive agreements with Brabant Alucast Services B.V. to acquire
each of Brabant Alucast Italy [site Verrés], and Brabant Alucast
Netherlands [site Oss].
The acquisition complements the Company’s global
footprint and expands into aluminum and existing magnesium casting
and stamping capabilities, as well as provides for necessary
growth-capacity, in Europe. The agreements underscore the Company’s
commitment to address the growing demand for innovative
lightweighting solutions in the European region and the
transactions are targeted to close on February 28, 2018, subject to
receipt of all required regulatory approvals.
“The team members, products and technologies in
Verrés and Oss will be instrumental in supporting our expanding
customer relationships,” said David Jaeger, senior vice president
and managing director, CastLight®. “This opportunity enhances our
global cross-car beam, front-end carrier and shock tower
businesses, as well as expands our structural aluminum body,
chassis and propulsion products already produced in North America
and Asia today.”
The acquisition will provide leading technologies
and processes representing over €110 million in annualized sales
revenue and add approximately 600 talented employees to Shiloh’s
existing staff of over 3,600.
“The acquisition is critical to our future growth
in Europe, and thus, brings better balance to our engineering and
manufacturing footprint allowing us to serve our customers on their
global platforms,” said Brad Tolley, senior vice president,
business development and technology. “We are excited to welcome
this talented team into our organization and believe this addition
reinforces our position as a leading, global lightweighting
provider.”
Investor Contact:
For inquiries, please contact Thomas Dugan, Vice
President Finance and Treasurer at: 1-330-558-2600 or at
investor@shiloh.com.
About Shiloh Industries:
Shiloh Industries, Inc. (NASDAQ:SHLO) is a global
innovative solutions provider focusing on lightweighting
technologies that provide environmental and safety benefits to the
mobility market. The Company designs and manufactures
products within body structure, chassis and powertrain systems,
leveraging one of the broadest portfolios in the industry. Shiloh’s
multi-component, multi-material solutions are comprised of a
variety of alloys in aluminum, magnesium and steel grades, along
with its proprietary line of noise and vibration reducing
ShilohCore acoustic laminate products. The strategic
BlankLight®, CastLight® and StampLight® brands combine to maximize
lightweighting solutions without compromising safety or
performance. The Company has over 3,600 dedicated employees with
operations, sales and technical centers throughout Asia, Europe and
North America.
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