Mexico’s GIS to sell engine, foundry operations to Tupy

Nov 16, 2011 | 11:41 AM | Stephen Downer

Tags  Grupo Industrial Saltillo, Mexico, automotive, foundry, stephen downer

MEXICO CITY — Mexico’s Grupo Industrial Saltillo SAB de CV (GIS) has agreed to sell its gray iron engine block and cylinder head foundry business to Brazilian company Tupy SA for $439 million.

The deal includes Cifunsa Diesel SA de CV, Technocast SA de CV and two other unnamed subsidiaries, GIS said in a news release posted on the Mexican Stock Exchange’s Web site.....

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