Grede Completes Acquisition

Grede completes the acquisition of two foundries in Mexico.

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Grede Holdings LLC has completed the acquisition of two foundries in Mexico from Grupo Proeza. Grede acquired the NovoCast and Teknik foundries, both located near Monterrey, Mexico, for an undisclosed sum.

“The acquisition of the NovoCast and Teknik foundries is important for Grede because it expands our manufacturing footprint to allow us to supply key automotive, heavy truck and industrial customers in Mexico with a broad spectrum of ductile and gray iron components,” says Doug Grimm, chairman, president & CEO of Grede Holdings LLC.