INKSTER, Mich., Dec. 1 /PRNewswire/ -- EaglePicher Corporation
(EaglePicher) today announced that it has completed the transaction to sell
Hillsdale Automotive (Hillsdale) to Cerion, LLC. Terms of the deal were not
disclosed.
Hillsdale, headquartered in Inkster, Mich., will be renamed Metavation.
As a leader in precision-machined and assembled powertrain and chassis
components to the automotive industry, the company produces high-quality,
competitively-priced parts including dampers for noise, vibration and
harshness (NVH) applications, slip yokes, knuckles and other components for
engine, transmission and chassis applications. It has manufacturing facilities
in Hillsdale, Mt. Pleasant, Vassar and Traverse City, Michigan; and one in San
Luis Potosi, Mexico. Hillsdale's sales were approximately $100 million in the
fiscal year ending November 30, 2007.
Cerion is a privately-held American manufacturing company focused on
acquiring and operating small and medium-size machining operations in the
Midwest. Cerion's management team, led by CEO Dave Doster, has extensive
experience in automotive manufacturing.
"Hillsdale has a solid reputation in the automotive industry," said Dave
Doster, Cerion's chief executive officer. "This transaction provides a great
opportunity to apply its world-class machining and assembly expertise to
adjacent industries, customers and markets. In addition to continuing to
satisfy our core automotive customers, we see good opportunity for growth
because of the company's innovative product and process technology,
value-added engineering solutions and reputation for quality."
"I am pleased that this transaction aligns Hillsdale with a strategic
partner and offers growth opportunities in a range of manufacturing sectors,"
said David Treadwell, president and CEO of EaglePicher. "The employees of
Hillsdale under the leadership of John Hrit have done a great job of turning
the company into a world class quality machining company. I would like to
recognize and thank them for their hard work. They will be a great asset to
the Cerion family."
Over the last two years EaglePicher companies have focused on operational
excellence and technological innovation throughout its business portfolio. It
has also identified strategic players who could grow a particular business.
"Cerion is an excellent example of that effort," said Treadwell.
About EaglePicher Corporation
EaglePicher Corporation, based in Inkster, Mich., operates businesses in
automotive, defense, space, commercial power, and medical. Its other companies
include Wolverine Advanced Materials, LLC; EaglePicher Technologies, LLC;
EaglePicher Medical Power, LLC, and EP Minerals, LLC. For more information,
visit www.eaglepicher.com.
About Cerion
Headquartered in Plymouth, Mich., Cerion, LLC is a privately-held American
manufacturing company focused on acquiring and operating small and medium-size
machining operations in the Midwest.
About Metavation
Based in Inkster, Mich., Metavation, LLC is a leader in precision-machined
and assembled powertrain and chassis components to the automotive industry.
The company produces high-quality, competitively-priced parts including
dampers for noise, vibration and harshness (NVH) applications, slip yokes,
knuckles and other components specific to engines, drivelines, chassis and
transmissions. It has manufacturing facilities in Hillsdale, Mt. Pleasant,
Vassar and Traverse City, Michigan; and one in San Luis Potosi, Mexico.
Metavation is owned by Cerion, LLC.
SOURCE EaglePicher Corporation
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