Feb 4 2011
Revstone Industries, LLC is pleased to announce its intent to acquire Tisamatic S. de. R.L. de C.V. ("Tisamatic") from Industrias Xignux S.A. de C.V. ("Xignux").
Tisamatic produces high precision iron castings for the automotive sector, in addition to home appliances, cast iron connections, and soil pipes. The transaction is currently under due diligence, and is expected to close in the first half of the year.
The acquisition of the gray and ductile iron foundry would strengthen Revstone's position in Mexico, allowing the company to move upstream in a vertical that already includes stamping, fineblanking, machining, and sub-assembly capabilities. Revstone would further expect to benefit from the facility's proximity to a large and growing base of customers for iron castings, many of whom have strong existing relationships with both companies.
Robert Carney, President of Revstone Mexico said, "The acquisition of Tisamatic would be a significant addition to the Revstone portfolio of businesses and would further our strategy to offer the broadest range of world class processes and services to our customers." For Xignux, the deal would provide an opportunity to focus on its electrical and food businesses.
Source: http://www.revstone.com/