Tesma to buy Davis Industries

Newswire

(Figures in U.S. dollars) MONTREAL, Dec 18 (Reuters) - Tesma International Inc. said on Thursday it will buy privately held U.S. automotive supplier Davis Industries, Inc. Details of the deal were not disclosed, but Tesma said Davis reported sales of approximately $129 million in fiscal 2003. Closing the deal is expected on Jan. 2, 2004, and Tesma intends to fund the acquisition through cash and the assumption of certain Davis debt. Tesma said the transaction will be immediately ...

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