Hayes Lemmerz International (MM) (NASDAQ:HAYZ)
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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/