Aug 6 2004
Spectra Premium Industries Inc. ("SPI"), a North American leader in the manufacture of automobile, light-truck and heavy-duty truck aftermarket parts, announces today the conclusion of the acquisition of 90% of interest in Trimag, L.P., ("Trimag") under the conditions expressed in the press release of July 7. Investissement Québec will own the other 10% of interest in Trimag.
Trimag, one of the most important North American manufacturers of high-pressure die cast magnesium alloy parts used in the automotive industry, with approximately 150 employees, has two plants covering a total surface of 140,000 sq. ft., one in Boisbriand, Quebec, which began operations in 2002, and the other in Haley, Ontario.
"We are very pleased to integrate Trimag with SPI, since this transaction should enable us to increase annual sales by more than $50 million with original equipment manufacturers ("OEM") for fiscal 2005-2006, besides positioning the Corporation in a sector that has great potential for growth", declared Mr. Jacques Mombleau, President and Chief Executive Officer of SPI.
Trimag is recognized for its engineering and design expertise and its know-how relative to the moulding process of magnesium parts. The very modern Boisbriand plant is notably equipped with two 3,500 ton presses, which positions Trimag as one of the few companies in North America having the infrastructure to produce magnesium parts on a large scale, such as instrument panel beams.
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