Goshen Facility Part of Shiloh Industries Acquisition
(file photo courtesy of Shiloh Industries)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowShiloh Industries Inc. in Ohio has acquired two automotive facilities from Germany-based Benteler International, including one in Goshen. Financial details are not being disclosed, but Shiloh says the facilities will help in its effort to streamline operations to focus on lightweighting for the auto industry.
The Goshen facility, along with the other facility in Michigan, provide hot forming and welding services for Shiloh. John Stewart, founder and managing partner of Shiloh parent MiddleGround Capital tells Inside INdiana Business the company does not expect the acquisition to have a negative effect on jobs.
“We acquired the Benteler facilities because we believe the employees at the company and the investments made in the facilities are jobs worth preserving,” said Stewart. “All employees are now employees of Shiloh and we anticipate brining more business into the two facilities due to future programs with a variety of automotive OEMs.”
Lightweighting in the auto industry involves the use of lighter metal alloys to reduce the weight of vehicles while maintaining or improving performance.
Stewart says the work performed at the facilities adds to an “offering of talent and assets” in the lightweighting process that OEMs are looking for when trying to meet fuel emission standards and improve efficiency of electric vehicles.