GIS acquires the 92% of ACE

Category: News
Published: 2015-12-30

Grupo Industrial Saltillo (GIS) acquired the 92% of the shares of the European automotive Automotive Components Europe (ACE), with an investment of US$80 million. GIS is a Mexican company that designs, manufactures and commercializes products for various industrial and consumption sectors.

Jose Manuel Arana Escobar, CEO of GIS, pointed out that this operation will generate synergies and a better-practice exchange and will help to consolidate a greater competitive advantage to become a global company. ACE is one of the leading European companies that supplies steel and aluminum components. The integration of ACE will allow GIS to offer a global solution of auto parts supplying for the braking systems, will strengthen its capability of research and develop and will allow its entrance to the aluminum components smelting market.

Source: Cluster Industrial