SOURCE: Shiloh Industries

Shiloh Industries

October 01, 2014 13:30 ET

Shiloh Industries Acquires Radar Industries; Expands Stamping Business Into Central Mexico

VALLEY CITY, OH--(Marketwired - Oct 1, 2014) - Shiloh Industries, Inc. (NASDAQ: SHLO), a leading supplier of lightweighting, noise and vibration solutions, today announced its acquisition of Warren, Michigan based, Radar Industries. The purchase leverages Radar Industries' tooling technologies, strong stamping capabilities, key customer relationships and expands Shiloh's existing manufacturing capacity to include Central Mexico and Michigan.

"Radar Industries is a perfect addition to Shiloh's strategic lightweighting portfolio," said Ramzi Hermiz, president and CEO, Shiloh Industries. "To broaden our best-in-class portfolio even further, we actively seek solutions that address industry pinch points, such as large tonnage stamping capacity and tool & die capability. This acquisition is another way for us to better service our growing global customer base."

The acquisition includes three metal stamping plants; two located in Warren, Mich. and the other in Celaya, Mexico. The deal includes a sales and technical center, also in Warren. Radar is comprised of approximately 325 workers in the U.S. and Mexico.

The automotive market in Central Mexico is experiencing rapid growth, both at the OEM and supplier level. It is estimated that light vehicle production in Mexico will expand by nearly one million units by 2017. Brad Tolley, Shiloh vice president, strategy and market development, further added that the time couldn't be better for the acquisition.

"Radar Industries has been a leader in metal forming and assembly, production design and engineering services," according to Dave Zmyslowski, president, Radar Industries. "My family and I are proud to have been part of growing the business started by my father nearly 60 years ago. We are looking forward to being part of the future success of Shiloh Industries."

Radar is known for its high-quality interior, chassis and powertrain components and a recognized leader in welding, including mig, tig, laser, projection and resistance.

"We remain focused on leading with technology and innovation and continue to strive for sustainable, profitable, global growth," added Hermiz. "The acquisition adds to our strong technology position, customer diversification and geographic needs by complementing our existing stamping, laser welding, aluminum and magnesium die casting footprint."

About Shiloh Industries, Inc. 
Shiloh Industries Inc. (NASDAQ: SHLO), is a leading global supplier of lightweighting and NVH solutions to the automotive, commercial vehicle and other industrial markets. The company offers the broadest portfolio of lightweighting solutions in the industry, capable of delivering solutions in steel, steel alloys, aluminum and magnesium. Shiloh delivers these solutions through design, engineering and manufacturing of first operation blanks, engineered welded blanks, complex stampings, modular assemblies and highly engineered aluminum and magnesium die casting and machined components serving the body-in-white, emission, powertrain, structural and seating needs of OEM and Tier 1 customers. Shiloh has locations across Asia, Europe and North America and approximately 3,000 employees. For more information visit www.shiloh.com.

Forward Looking Statement
Certain statements made by Shiloh Industries, Inc. in this release are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of management's assumptions and expectations. As a result, there can be no guarantee or assurance that these assumptions and expectations will in fact occur. Please refer to the investor page of www.shiloh.com for additional information on forward-looking statements.

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