Sofanou Inc., the U.S. arm of France's HBS Technologie, said Jan. 20 it purchased privately held Truesdell Enterprises Inc. of Auburn Hills, Mich., for undisclosed terms.
Truesdell, founded in 1979, manufactures custom profile tubing and injection molded parts for the automotive and truck vehicle industries in North America. It operates subsidiaries in El Paso, Texas, and Morgantown, Ky.
``Our headquarters will continue to be in Auburn Hills,'' said Glenn Ernst, Truesdell's vice president.
The company's new chief executive officer, Emmanuel Klinklin, said in a prepared statement that Truesdell is evaluating plans that call for future plant expansions, new facilities and new equipment. Ernst declined to elaborate on those plans in a Jan. 22 telephone interview. He said the firm's new management first wanted to brief Truesdell's employees.
Klinklin comes from HBS Technologie's Anteuil, France, operation and replaces Truesdell's former CEO, Tom Carey. Carey now heads Truesdell's El Paso plant.
Truesdell has annual sales of $18 million and employs 160, according to a company news release. It runs 43 lines at three plants totaling 153,500 square feet of space and uses 9 million pounds a year of polypropylene, polyethylene, PVC and nylon.
Last March, Anteuil-based HBS, Europe's leader in wiring harness insulation products for the automotive industry, acquired a 10 percent interest in Truesdell Enterprises along with 100 percent of the firm's United Kingdom subsidiary in Newtown, Wales.
Prior to the U.K. sale, Truesdell had invested $4.4 million in the 20,000-square-foot Newtown plant, to supply wiring harness tubing to major client Lucas SEI Wiring Systems Ltd., an affiliate of Sumitomo Electric Europe SA in London, the company said.
HBS operates plants in France, Wales, Tunisia, Spain, Portugal, Argentina and Turkey, and plans to expand further into Asia within three years.
The firm is traded on the Paris stock exchange and has annual sales of about $45 million.