Chassix, Inc., a global automotive supplier of precision casting and machining solutions, signed a definitive agreement to acquire BENTELER Automotive Farsund’s lightweight aluminum low-pressure automotive casting business.
BENTELER Automotive Farsund’s casting business consists of a highly automated aluminum foundry in Farsund, Norway, designing and producing lightweight aluminum structural castings. The company’s casting business produces safety critical components, such as sub frames, swing arms, steering knuckles and rear hubs for luxury brand automotive customers.
The BENTELER Automotive Farsund’s casting business has an experienced management and technical team, providing innovative products of superior quality. Overall, approximately 275 employees are employed by BENTELER Automotive Farsund.
The acquisition of BENTELER Automotive Farsund’s casting business accelerates our vertical integration in Europe, provides customer and product diversification, and further enhances our technical capabilities in our core business. The Farsund business is strategically aligned with the Chassix growth plan and provides a strong team to further develop our core competencies of casting and machining chassis, powertrain and sub-frame solutions for global customers.—Doug DelGrosso, president and CEO, Chassix
BENTELER will continue to develop lightweight solutions as this is an important trend in the automotive industry and in doing so, the company will leverage its in-house competence of steel and aluminum processing based on 141 years of experience.
Casting is not a core competency and only done at the site in Farsund. When needed, BENTELER will source aluminum casting products through cooperation with external partners.
The divestment of BENTELER Automotive Farsund will allow us to further invest into our core business and leverage upcoming opportunities. We will pursue our strategic plan and will continue to develop electric mobility and provide full system solutions which automotive customers increasingly outsource. At the same time, we will systematically leverage future trends such as digitalization, cooperation with start-ups and invest into growing markets such as China.—Laurent Favre, CEO BENTELER Automotive
The sales agreement was signed on 26 October 2017. An approval of the anti-trust authorities is not required. However, several conditions with regard to customer and supplier contracts still need to be completed before the transfer can be effected.