CIE Automotive acquires Maquinados de Precision and Cortes de Precision.

CIE Automotive, an industrial group specializing in supplying components for the automotive market acquires Maquinados de Precision de Mexico and Cortes de Precision de Mexico. Financial terms were not disclosed. The closing of the transaction is subject to the fulfillment of the usual conditions in this type of transactions, including the authorization of the antitrust Mexican authorities. "The rationale of this integration is mainly the use of the productive assets, which complement the Group's machining activities in Mexico and which will allow us an important future physical and commercial expansion in this and other technologies. This transaction also reinforces CIE Automotive's commitment to the Mexican automotive market." Jesus Maria Herrera, CIE Automotive.