Tupy set to purchase Mexican foundries

摘要

Tupy S.A., a Brazilian metal caster is set to purchase two Mexican foundries controlled by Grupo Industrial Saltillo. These foundries are Cifunsa Diesel, in Saltillo, and Technocast in Ramos Arizpe, produce cast iron engine blocks and cylinder heads for automotive and commercial truck markets, agricultural and construction machinery, marine engines, and other industrial engines.The deal is of $439 million, as being stated by Tupy which must be approved by various regulatory agencies. Grupo Saltillo said the businesses are being sold as part of a plan to reorganize its holdings and reduce debt, and to seek business expansion opportunities.