India's Sona Group has bought ThyssenKrupp's forging business, which supplies parts to the automotive industry. The unit, Praezisionsschmiede, has plants in the German cities of Remscheid, Duisburg and Munich and a plant - Precision Forge - in Selma, N.C. The acquisition takes effect retroactively as of Oct. 1, 2007. The acquisition is scheduled to close in late January.
Praezisionsschmiede develops and produces forged parts for cars and trucks. Their product range includes precision forgings, Hatebur products and heavy-duty components. Sona, which operates nine manufacturing facilities in India at five locations, specializes in the production of steering systems, rear axle components and forgings for transmissions, engines and drive trains.