Tower International sells Korean ops

Newswire

Dec 28 (Reuters) - Automobile parts maker Tower International Inc sold its South Korean operations to Seco, a privately owned Korean auto parts supplier, for about $47 million in cash. Livonia, Michigan-headquartered Tower said Seco will also assume debt of about $98 million, representing a deal enterprise value of about $145 million. The operations being sold include five manufacturing plants, a tooling plant and a technical center. Shares of ...

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