Shiloh Industries, Valley City, Ohio, reports that it has entered into two definitive agreements with Brabant Alucast Services B.V. to acquire its Alucast facilities in Italy and Netherlands, enabling Shiloh to expand into aluminum and magnesium casting and stamping in Europe.
The acquisition complements the Company’s global footprint and provides for growth-capacity in Europe. The agreements underscore the Company’s commitment to address the growing demand for innovative lightweighting solutions in the European region.
Transactions are targeted to close on February 28, subject to receipt of all required regulatory approvals.
“The team members, products, and technologies 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. It also 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 $135 million in annualized sales revenue. It will also add approximately 600 talented employees to Shiloh’s existing staff of over 3600.
“The acquisition is critical to our future growth in Europe, and 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 believe this addition reinforces our position as a leading, global lightweighting provider.”
