TROY, Mich., April 30, 2013 –
The formation of a new automotive enterprise was announced today with the
launch of Chassix, the automotive industry’s largest single integrated resource
for precision chassis casting and machining solutions. Chassix was formed following Platinum
Equity’s purchase and subsequent integration of the Diversified Machine, Inc.
(DMI) and SMW Automotive, LLC (SMW) businesses, resulting in the creation of a
$1.2 billion global automotive supplier.
Robert J. (Bob) Remenar will serve as president and CEO of the newly integrated
business.
“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
Remenar. “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.”
With expanded global
resources, Chassix, currently based in Troy and Wixom, is among the only
casting and machining suppliers to offer total in-house services, enabling an
unmatched level of responsiveness to customer needs. In addition to 24/7 design and engineering
capabilities, the combined enterprise now has manufacturing operations in the
U.S., Mexico, South America, Europe and China.
“The combination of these
two, large complementary businesses not only doubles our global footprint – a
key advantage in this industry – but also marries two distinct areas of
expertise: DMI’s leadership in casting
with SMW’s leading 24/7 design and engineering expertise in machining,” added Remenar. “Together they make a financially strong
market leader with significant growth potential.”
Platinum Equity purchased Diversified
Machine, Inc. in December 2011 and then later SMW Automotive, LLC in January
2012. The newly integrated business serves
a diverse customer base and has over 3,600 employees in 25 locations in eight countries.
The new Chassix name
reflects the automotive chassis components that have been the bedrock of the
DMI and SMW product lines, while the “X” implies a multiplier of the new
company’s size and strength as well as their mission to exceed customer
expectations. The brand will be represented with a red, black and gray color
palette to emphasis speed, strength and determination.
“Chassix is built on the
history and achievements of two successful industry players with solid
reputations and distinct expertise,” added Remenar. “Together, we have market-leading capacity
and capabilities that will allow us to provide the strength, service and
solutions that our customers demand.”
About
Chassix
Chassix
represents a $1.2 billion, privately held automotive supplier of precision
casting and machining solutions. The brand was launched in 2013 following the
integration of SMW Automotive, LLC and Diversified Machine, Inc. The newly combined business is focused on
delivering high quality, precision ductile iron and aluminum chassis
components, with over 3,600 employees in 25 locations in every key region of
the world.
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