TRW sells braking units
CLEVELAND - TRW Inc. of Cleveland plans to sell one of its Livonia, Mich., braking cast products plants and a foundry in Canada to American Commercial Industries Inc. Price and terms were not disclosed.
TRW's divestitures follow a review of its braking manufacturing facilities around the world. The Livonia plant makes drums and rotors. Its Eureka foundry in Woodstock, Ontario, produces gray iron castings used to make brake rotors, drums and hubs.
American Commercial of Troy, Mich., is part of the American Commercial Holdings group, which owns interests in the automotive, heavy-duty truck, steel and construction industries. The company's products include stampings, chassis baffles and plugs and remanufactured automotive parts.
FABRISTEEL BUYS TRW UNIT
DETROIT - FabriSteel Products Inc. has agreed to acquire the Nelson Stud Welding business from TRW Inc. Terms were not disclosed.
Nelson, of Elyria, Ohio, produces stud-welded fasteners and fastener installation equipment. The company operates plants at 11 locations around the world. FabriSteel, of Taylor, Mich., supplies fasteners, installation equipment, and cold-rolled steel wire for the auto industry.
FabriSteel was acquired in 1998 by Citicorp Venture Capital Ltd.
SUPERIOR WINS D/C DEALS
VAN NUYS, Calif. - Superior Industries International Inc. has won two $5 million wheel contracts from DaimlerChrysler and is bidding on more contracts valued at $30 million.
The contracts for Dodge and Chrysler wheels are in addition to the more than $300 million in new and replacement original equipment aluminum wheel contracts announced in recent months for the Van Nuys company.
SPRING MAKER ADDS PLANT
MEXICO CITY - Sanluis Rassini Corp., a Mexico City supplier of coil springs, opened a coil spring plant in Piedras Negras, Coahuila, Mexico.
The plant supplies coil springs for General Motors, DaimlerChrysler and Nissan Motor Manufacturing Corp. Sanluis Rassini is a large supplier of leaf springs to North America.