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.
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