Hayes Lemmerz Announces Sale of its Equipment and Engineering Division
02 July 2005 - 12:00AM
PR Newswire (US)
Hayes Lemmerz Announces Sale of its Equipment and Engineering
Division NORTHVILLE, Mich., July 1 /PRNewswire-FirstCall/ -- Hayes
Lemmerz International, Inc. (NASDAQ:HAYZ) today announced the sale
of its wholly- owned Equipment and Engineering subsidiary, located
in Au Gres, Michigan. The equipment business was sold to Todd G.
Carlson and former Hayes Lemmerz employee Daniel D. Minor. The
business will be renamed CMI - Equipment and Engineering, Inc.
Terms of the transaction were not disclosed. The business engineers
and manufacturers a wide range of foundry equipment and systems for
molding, coremaking, melting and finishing operations. It has
approximately 50 employees. "This division has a broad customer
base and an excellent reputation in the marketplace," said John A.
Salvette, Vice President of Business Development. "The divestiture
is part of our strategy to streamline Hayes Lemmerz, and still
retaining CMI - Equipment and Engineering as a valued supplier." "I
am excited about this transaction," commented CMI - Equipment and
Engineering, Inc.'s President Daniel Minor. "This will encourage
continued growth in the business. We look forward to continuing to
support Hayes Lemmerz while creating greater opportunities to
secure business with a wider range of equipment users." Hayes
Lemmerz International, Inc. is one of the world's leading global
suppliers of automotive and commercial highway wheels, brakes,
powertrain, suspension, structural and other lightweight
components. The Company has 41 facilities and over 11,000 employees
worldwide. More information about Hayes Lemmerz International,
Inc., along with a complete list of current and archived press
releases, is available at http://www.hayes-lemmerz.com/ .
DATASOURCE: Hayes Lemmerz International, Inc. CONTACT: Marika P.
Diamond of Hayes Lemmerz International, Inc., +1-734-737-5162 Web
site: http://www.hayes-lemmerz.com/
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