July 6, 2007 — Hayes Lemmerz International Inc. has sold its Wabash, IN, powertrain components plant to Harvey Industries LLC, a privately held company. Jerome Harvey, president of Harvey Industries said the purchase "will allow us to further optimize and enhance the business of manufacturing and machining complex aluminum castings."
The terms of the sale have not been announced.
The Wabash plant produces aluminum intake manifolds, cylinder heads, water pump housings, differential carriers, cast iron exhaust manifolds. It has about 325 employees, according to Hayes Lemmerz. Harvey Industries is acquiring all the assets.
"This transaction will further enhance Hayes Lemmerz' goal to strengthen our financial position and to focus on initiatives in select geographic regions that will improve the growth of our company," stated chairman, president, and CEO Curtis Clawson.
Hayes Lemmerz International operates 26 plants worldwide producing automotive and commercial highway wheels, brakes, and powertrain components.