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The Mexican industrial group GIS has acquired Automotive Components Europe (ACE), the head of several automotive components suppliers, including the Polish aluminium foundry EBCC, the Czech iron foundry Feramo and the Biscayan iron foundry Fuchosa, as well as the group engineering division, also located in Biscay. This operation, valued at around 86 million euros, was concluded on 28 December 2015 and represents the group’s first acquisition outside Mexico.
As the Mexican group explained, the operation seeks to create a strong global platform for automotive components, in which ACE specialises in brake system components assembled on different brands in the sector.
Moreover, with this purchase, GIS adds cast aluminium parts and their machining to its current technological offer, and also values the contribution that the engineering, research and development division of the ACE group can make to its business.
The Basque group led by Fuchosa, whose main plant is in the Valley of Atxondo, is the European leader in disc brake anchors for cars, with a market share of more than 40%. This group has turnover of around 120 million euros a year, with a workforce of 200 persons, and produces some 45,000 tons of iron castings annually.