Reynosa plant remains under ownership of Kongsberg Automotive
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EDIT: On Friday March 24 we incorrectly stated Kongsberg Automotive sold a Reynosa, Tamaulipas plant. Proper corrections has been made to this article.
Norway-based automotive parts manufacturer Kongsberg Automotive announced it has completed the sale of its “North American Headrest/Armrest business” to Futuris Automotive, informed the company in a statement.
According to company officials, Kongsberg's factory in Milan, Tennessee, was sold to Futuris Automotive for an undisclosed amount. Kongsberg also owns a plant in Reynosa, Tamaulipas dedicated to seat components, but this facility will remain under the company's ownership.
Kongsberg Automotive and Futuris Group entered into a sales and purchase agreement on January 6, 2017. With the closing of the deal having taken place on recent days, all contracts, employees, and other assets have been transferred to Futuris.
Kongsberg announced in November 2016 it had decided to divest its Headrest and Armrest business in order to focus its Interior Segment on the Seat Climate and Support systems and Light Duty Cable products.
Futuris Group is a Tier 1 global seating and interiors supplier and is located across 5 countries, the United States, Mexico, China, Thailand and Australia.
The company operates two manufacturing plants located at Acuna and Piedras Negras, in the Northern state of Coahuila, as well as two warehouses in Del Rio and Eagle Pass, Texas.