November 30, 2006
Martinrea International Inc. (TSX:MRE), a leader in the production of quality metal parts, assemblies and modules and fluid management systems focused primarily on the automotive sector, completed the purchase of the North American automotive body and chassis operations of ThyssenKrupp Budd Company of Troy, Michigan. The purchase price for the transaction was approximately US$275 million, comprised of US$95 million in cash and the balance in assumed liabilities. The cash portion of the transaction was funded from credit funding sources arranged by Martinrea. The acquired operations cover 13 plants throughout North America, with over 3500 employees, as well as a technical centre in Michigan.
Wildeboer Dellelce LLP represented Martinrea with a team that included Robert Wortzman, Robert Fonn, Chris Partridge, Lisa Cunningham, Ashleigh Frankel (corporate/securities), Kevin Fritz (tax) and David Fedy (real estate).