Aludyne, an aluminum and iron parts supplier, has acquired Shiloh Industries' die casting division, the company said Tuesday.
The acquisition is part of Aludyne's plan to strengthen its ability to manufacture lighter vehicle components. The suburban Detroit supplier said pulling in CastLight will allow it to offer more "high-integrity, thin-walled components" to be used in electrified drivetrains, e-motor housings, battery trays and structural components.
Shiloh Industries manufactures body structure, chassis and propulsion system components. CastLight, its die casting solutions division, produces a slate of high-ductile aluminum and magnesium alloy products.
Aludyne, in a statement, said the combined business was expected to generate annual revenue of about $1 billion.
"We welcome the CastLight employees in North America, Europe and Asia to the Aludyne team," Aludyne CEO Andreas Weller said in a release. "Together we are a stronger company delivering innovative solutions to the mobility industry and meeting the needs of our customers globally."
Aludyne also said it plans to expand its customer base by adding facilities in the U.S., the Netherlands, Poland and China. It currently has 21 plants and four technical centers in nine countries and employs about 3,500 people.
Shiloh Industries has about 2,000 employees spread throughout operation centers in North America, Asia and Europe.