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
- El Salvador's Asesuisa discusses risk management, strategic direction with stakeholders
- Grupo Exito buying lettuce locally to support resocialization program
- Endo selling Mexico-based Grupo-Farmaceutico Somar
- AGUNSA operating Ingeniero Buitrago Port in Argentina
- Development Finance Agency approves credit appropriations
- Votorantim, Baesa aiding program to provide children with activities in Brazil
- Chilean tennis club wins Engie Interclub Championship Cup for second time
- M. Holland acquires Able International, Tril Export
- Banco de Venezuela sets aside $10,7 billion in loans to aid country's economy
- Century 21 Real Estates setting up shop in Argentina