CIE Automotive acquires Inteva’s sunroof business for US$ 755 million, including Mexican plants
Auto parts supplier CIE Automotive announced earlier this week it has acquired the Roof Systems division of Michigan manufacturer Inteva for US$ 755 million, the Spain-based company said in a statement.
With more than 4,400 employees and estimated 2018 sales of approximately US$ 1 billion US dollars, Inteva’s roof business is positioned among the global Top-3 sunroof suppliers.
The division operates sixteen manufacturing facilities and 6 Research and Development centers in 7 different countries (USA, Mexico, Germany, Slovakian Republic, Romania, China and India). In Mexico Inteva operates production facilities in Puebla, Matamoros, Silao and a technical center in Ciudad Juarez. Roof operations are allocated in Puebla and Matamoros.
At the opening ceremony of the Silao site, in September 2017, Inteva officials revealed plans to add roof systems operations at that facility in the near future, but its not clear if the project materialized.
CIE Automotive said Inteva’s footprint, customers, geographies and products were complementary with its Advanced Comfort Systems division (ACS), the sunroof unit that CIE integrated in 2009, doubling its sales and significantly improving its results.
“Inteva’s Roof Systems contributes to strengthening our style-aesthetics-and-comfort-oriented products portfolio, a segment with important growth perspectives, as well as to prove once more our bet and commitment to design, high technological level engineering and processes and products with high complexity,” said Jesus Maria Herrera, CIE Automotive CEO.