The formation of a new automotive enterprise was announced with the launch of Chassix, a single integrated resource for precision chassis casting and machining solutions. Chassix was formed following Platinum Equity's purchase and subsequent integration of the Diversified Machine, Inc. (DMI) and SMW Automotive, LLC (SMW) businesses, resulting in the creation of a $1.2 billion global automotive supplier. Robert J. (Bob) Remenar will serve as President and CEO of the newly integrated business.
"There is a huge demand for high-quality, advanced casting and machining suppliers, particularly those that are skilled in casting traditional ductile iron as well as those able to meet the growing demand for precisely machined lightweight aluminum components," said Remenar. "The automotive industry was missing a truly global player with the full service capabilities and operations to serve manufacturers on global platforms, and now Chassix fills that role."
With expanded global resources, Chassix, currently based in Troy and Wixom, offers total in-house services. In addition to 24/7 design and engineering capabilities, the combined enterprise now has manufacturing operations in the U.S., Mexico, South America, Europe and China.
"The combination of these two large complementary businesses not only doubles our global footprint, a key advantage in this industry, but also marries two distinct areas of expertise: DMI's leadership in casting with SMW's leading 24/7 design and engineering expertise in machining," said Remenar. "Together they make a financially strong market leader with significant growth potential."
Platinum Equity purchased Diversified Machine, Inc. in December 2011 and then later SMW Automotive, LLC in January 2012. The newly integrated business serves a diverse customer base and has more than 3,600 employees in 25 locations in eight countries.
For more information contact:
Chassix
3221 W. Big Beaver Rd., Ste. 110
Troy, MI 48084
248-647-7833
www.chassix.com