Euro-Industrial purchases Universal Automotive's brake system component foundry in Hungary. (Acquisitions).Euro-Industrial, Ltd. L.L.C., has purchased Alsip, Illinois-based Universal Automotive Industries Automotive Industries, Ltd. (Hebrew: תעשיות רכב נצרת עלית, תע"ר , Inc.'s interest in its Csepel, Hungary foundry operation. Universal Automotive is a manufacturer and distributor of brake rotors, drums, disc brake pads, relined brake shoes, wheel cylinders and brake hoses for the automotive aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. . Euro-Industrial's principal shareholder, Tad (Telephone Answering Device) An answering machine. M. Ballantyne, also holds interests in several other U.S. foundries. The sale was effective December 31. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Universal's Chief Financial Officer, Robert W. Zimmer, "The sale of the foundry removes a large burden of debt from Universal's core business activities." |
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