BBS acquires Hayes Lemmerz Belgie

Jun 17, 2008 (Datamonitor via COMTEX) -- HAYZ | Quote | Chart | News | PowerRating -- BBS International, a producer of lightweight wheels for sports and passenger cars, has acquired Hayes Lemmerz Belgie, a subsidiary of automotive and commercial wheels supplier Hayes Lemmerz International in Hoboken, Belgium.

Under the agreement, BBS has acquired all of the outstanding shares of stock of Hayes Lemmerz Belgie including its factory in Hoboken. The Hoboken factory produces cast aluminum wheels for passenger cars and employs approximately 315 people.

BBS International is a subsidiary of Punch International, a diversified industrial holding company. In addition, Punch Property International, the property investment company of the Punch group, has entered into a definitive agreement with Hayes Lemmerz International Georgia to purchase the real estate assets and certain equipment of the Hayes Lemmerz subsidiary located in Gainesville, in the US state of Georgia.

Curtis Clawson, president, CEO and chairman of Hayes Lemmerz International, said: "The Hoboken and Gainesville divestitures reflect continued progress in Hayes Lemmerz's overall strategy to reduce costs, realign capacity and increase the focus on leading-cost, high-growth regions."

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