Hayes Lemmerz Sells Equipment and Engineering Division

Hayes Lemmerz International, Inc has sold its wholly owned Equipment and Engineering subsidiary, located in Au Gres, Michigan. The equipment business was sold to Todd G Carlson and former Hayes Lemmerz employee Daniel D Minor. The business will be renamed CMI – Equipment and Engineering, Inc. Terms of the transaction were not disclosed.

Hayes Lemmerz bought CMI in February 1999 for $605 million. Some sources speculate that this purchase was one reason why Hayes Lemmerz had Chapter 11 status between December 2001 and June 2003. CMI engineers and manufacturers a wide range of foundry equipment and systems for moulding, coremaking, melting and finishing operations. It has approximately 50 employees.

“This division has a broad customer base and an excellent reputation in the marketplace,” said John A Salvette, Vice President of Business Development. “The divestiture is part of our strategy to streamline Hayes Lemmerz, and still retaining CMI – Equipment and Engineering as a valued supplier.”

“I am excited about this transaction,” commented CMI – Equipment and Engineering, Inc.’s President Daniel Minor. “This will encourage continued growth in the business. We look forward to continuing to support Hayes Lemmerz while creating greater opportunities to secure business with a wider range of equipment users.”