June 5, 2006 -- ThyssenKrupp Budd Co. has sold its two aluminum foundries for an an undisclosed prices to a private equity group. The move is described in a news release as part of the firm’s restructuring plan, announced earlier this year. In May, parent company ThyssenKrupp AG said it faced about Euro 200 million ($258.6 million) in restructuring costs this year for its automotive division, which includes ThyssenKrupp Budd.
ThyssenKrupp Budd, Troy, MI, is an automotive supplier whose main product lines are sheet metal stampings and assemblies, composite autobody panels and pickup boxes, chassis modules and subframes, bumpers and bumper reinforcements.
The two foundries are in Kingsville and Warrensburg, MO.
Speyside Equity LLC, the equity group, is a Delaware company. It now owns the entire stock of ThyssenKrupp Stahl, among its other industrial investments.