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Home arrow ECS Magazine arrow Metalcasting News arrow Hayes Lemmerz Sells Another Casting Facility
Hayes Lemmerz Sells Another Casting Facility Print E-mail

Released on July 5, 2007

Hayes Lemmerz International Inc., Northville, Mich., announced the sale of Hayes Lemmerz International-Wabash Inc., a wholly-owned subsidiary that operates its Wabash, Ind., facility.

Under the agreement, Harvey Industries LLC, a privately held company based in Michigan, has acquired all of the assets of the Hayes Lemmerz subsidiary. Financial terms of the transaction were not disclosed.

The Wabash facility employs about 325 and manufactures intake manifolds, cylinder heads, water pump housings and cast iron exhaust manifolds.

According to Curtis Clawson, president, CEO and chairman of the board at Hayes Lemmerz International, the company believes that focusing on other facilities will be more beneficial to its future at this time. Clawson also said that he believes the facility will remain intact and grow under Harvey Industries’ ownership.

“We believe this transaction will allow us to further optimize and enhance the business of manufacturing and machining complex aluminum castings,” said Jerome Harvey, president of Harvey Industries.

Hayes Lemmerz, which has recently reported sales increases and strong operator earnings, said that it does not expect the transaction to have a significant impact on its fiscal year 2007 performance. The company still operates 26 facilities with approximately 7,500 employees.

 
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