SACRAMENTO, Calif. (Oct. 23)—GenCorp Inc. has signed an agreement to acquire Laird Group´s Draftex International Car Body Seals Division for $188 million, Laird said. The Draftex unit generates annual sales of about $415 million and operates from a Germany-based headquarters and technical center, as well as 11 manufacturing plants in Germany, France, Spain, Czech Republic, China and the U.S. The move will position GenCorp as the world´s second largest automotive vehicle sealing supplier by almost doubling its current sales, the company said in a written release. Laird is in discussions regarding the sale of its automotive anti-vibration unit, Laird Chief Executive Ian Arnott said during a telephone interview.
GenCorp to buy Laird body sealing unit
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