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Friday, August 29, 2014

Automotive Casting and Machining Suppliers Merge to Form Chassix

ChassixTwo Michigan-based automotive suppliers have merged their machining and casting services companies to form Chassix Inc., Automotive News reports.

Diversified Machine Inc. and SMQ Automotive Inc., both owned by Platinum Equity LLC, have integrated their casting and machining lines as Chassix to engage in worldwide expansion. The two companies’ combined revenue for 2012 was $1.2 billion, supported by factories in Michigan, Indiana, Ohio, Wisconsin, Georgia, as well as across South America, Europe, and Asia. Chassix plans to increase this figure by $200 million to $300 million in the coming year, while spending an additional $96 million in expansion.

Chassix has leased a new headquarters in Southfield, Mich., where it will oversee its international casting and machining operation, which employs 3,600 people, a number expected to increase by about 200 within two years.

“There is a huge demand for high quality, advanced casting and machining suppliers, particularly those that are skilled in casting traditional ductile iron as well as those able to meet the growing demand for precisely machined lightweight aluminum components,” said Robert Remenar, CEO of Diversified Machine, who will serve as CEO of Chassix. “The automotive industry was missing a truly global player with the full service capabilities and operations to serve manufacturers on global platforms, and now Chassix fills that role.”

Brian Lane

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