Over the past few months, members of Lisi Automotive’s leadership team have visited our various locations throughout North America, but this time it was Termax’s turn. On October 23 Termax’s management team got the chance to visit Lisi Automotive’s facilities in France and Germany for the first time. Members of the Termax team were given comprehensive tours of the historical facilities and were able to meet employees who are a driving force behind the company. Termax is truly excited to be part of this transition, as the acquisition will take us one step further in attaining a total global footprint and becoming a total vehicle fastening solutions provider.
The annual charity golf tournament, held by Termax on September 14, 2017, was a huge success. Termax employees, clients and suppliers got to spend a beautiful day having fun while raising over $25,000 for Educate-Trade-Create, a non-profit organization working with underprivileged youth in urban communities throughout Illinois.
Looking forward to next year’s event!
LISI GROUP (Euronext Paris ISIN code FR0000050353 – FII) announces that it has entered into a binding agreement to acquire 51% of the share capital of TERMAX LLC, a leading manufacturing and engineering company specializing in metal and plastic fastening systems for automotive interiors.
TERMAX LLC has grown significantly since inception in 1971 and continues to show good momentum. The company operates from a 11,100 square-meter production and development facility in Lake Zurich (Illinois, USA), another facility of 3,682 square meters in Suzhou (China) and a distribution platform in Queretaro (Mexico). It employs over 400 people and generated revenues of around 74 million US dollars in 2016.
“With TERMAX LLC, LISI AUTOMOTIVE is reinforcing its position worldwide in clip-fastening solutions. We will be present not only in Europe and Asia, but from now on also in North America. There are numerous synergy opportunities between our two companies, from a technical as well as from a sales standpoint. These will allow us to bring to a wider customer base the best development and production capabilities to offer innovative solutions in the areas of weight reduction, electrification and autonomous vehicle equipment “, said François LIOTARD, LISI AUTOMOTIVE Managing Director. Mike Smith, TERMAX Co-CEO, added: “For TERMAX, LISI AUTOMOTIVE stood out as the strategic partner of choice for our development, especially taking into account the many complementarities that exist between our two companies “.
The transaction is a two-step structured acquisition: the initial step involves the sale by TERMAX LLC’s shareholders of 51% of the share capital to LISI AUTOMOTIVE. Upon closing, which is subject to customary closing conditions and is expected during the fourth quarter of 2017, TERMAX LLC will be consolidated within LISI GROUP, with the objective of a positive impact on LISI GROUP’s results within the first full year of integration. As a second step, by fiscal year 2021, the current shareholders have committed to selling their remaining shares to LISI AUTOMOTIVE which will then own 100% of the share capital of TERMAX LLC.
TERMAX and LISI AUTOMOTIVE together can offer our customers a broader range of automotive interior, exterior and wire harness fasteners, and do so effectively world-wide.
“With TERMAX LLC, LISI AUTOMOTIVE is reinforcing its position worldwide in clip-fastening solutions. We will be present not only in Europe and Asia, but from now on also in North America.” -François LIOTARD, LISI AUTOMOTIVE Managing Director
FEATURES OF THE LOCK TOP
- A “lock top” includes two thicknesses of spring steel with toy tabs at the top.
- The “lock top” feature makes it difficult to damage the part during installation.
- Aids in more consistent insertion by forcing the operator to align the part when installing.
- Creates a more robust insertion and extraction due to increased stability at the tip.
FOR MORE INFORMATION
- New Product Announcement created by Melissa Lobkovich (Account Manager)
- For more information, please contact: email@example.com
Since 2012, Termax has been evolving into the Global Market of China through Sales, Engineering, and Distribution. Competitive pricing, local service, and value added parts has grown our operations over the past 4 years.
Termax is pleased to announce that we are growing again by launching manufacturing operations in Suzhou in November 2016.
“Creating the ability to produce value added fastening systems for self sustainability in the marketplace is the next step for growing operations in China” -Termax Management Team
Termax is planning our Grand Opening event mid November. Hope to see everyone there!
On August 31st, Termax had the opportunity to showcase our products at Ford Motor Company in Sante Fe, MX. Over 250 Engineers were able to review our current and Future Technologies for value added fastenings. Termax sends out their appreciation and thank for the warm welcome at Ford.