Tower International Inc., a Livoia, Michigan-based company that designs and produces metal components and assemblies used by automotive vehicle manufacturers, divested itself of one of its operations in Brazil and two China-based joint ventures in the last quarter of 2015.
Tower International said the sales netted a profit of approximately $118 million.
Company officials are still considering selling Tower Europe; bidders have been invited to submit non-binding offers. A final decision on whether Tower Europe will be sold is expected to be reached by the end of the first quarter of 2016.
Stakeholders were reminded that none of Tower's fourth quarter divestures were included in the company's results from continuing operations in 2015; rather, they were listed as discontinued operations.
Organizations in this Story
Want to get notified whenever we write about Tower International, Inc. ?
Next time we write about Tower International, Inc., we'll email you a link to the story. You may edit your settings or unsubscribe at any time.Sign-up for Alerts
- Guatemalan businessman Fernando Jarquín implements vision for development
- Emiliano Salinas cuts ties with NXIVM
- Fernando Jarquin, Guatemala’s Pharmaceutical Innovator and Entrepreneur, Talks Business
- New Colombia Resources says Sannabis test was successful
- Grupo Exito aims to help support Colombia
- Codelco CEO calls for transparency, focus on production goals
- BCP offers tips on choosing master's degree program
- General Tire launches new tire for Andean market
- Latin America talks of boosting pork production, exports @CorferiasBogota
- AIR Worldwide team takes part in wind-engineering conference